Zurcher Kantonalbank Zurich Cantonalbank Has $10.31 Million Holdings in Carnival Corporation (NYSE:CCL)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Carnival Corporation (NYSE:CCL) by 5.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 528,015 shares of the company’s stock after purchasing an additional 29,035 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Carnival were worth $10,312,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CCL. Graybill Wealth Management LTD. bought a new stake in shares of Carnival during the 1st quarter worth about $26,000. Measured Risk Portfolios Inc. bought a new stake in shares of Carnival during the 4th quarter worth about $29,000. Orion Capital Management LLC bought a new stake in shares of Carnival during the 4th quarter worth about $30,000. Dunhill Financial LLC boosted its stake in shares of Carnival by 1,125.0% during the 1st quarter. Dunhill Financial LLC now owns 1,862 shares of the company’s stock worth $36,000 after acquiring an additional 1,710 shares in the last quarter. Finally, Wealthquest Corp bought a new stake in shares of Carnival during the 1st quarter worth about $36,000. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Price Performance

Carnival stock opened at $30.11 on Thursday. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30. The company has a market capitalization of $35.15 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.66 and a beta of 2.61. Carnival Corporation has a one year low of $13.78 and a one year high of $31.01. The business has a 50 day simple moving average of $26.44 and a 200 day simple moving average of $23.51.

Carnival (NYSE:CCL) last posted its earnings results on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. The business had revenue of $6.33 billion during the quarter, compared to the consensus estimate of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%. Carnival’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $0.11 EPS. On average, sell-side analysts forecast that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup upped their price target on Carnival from $30.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Morgan Stanley increased their target price on Carnival from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, June 26th. Truist Financial increased their target price on Carnival from $27.00 to $31.00 and gave the company a “hold” rating in a research note on Monday, July 21st. Loop Capital restated a “hold” rating and set a $22.00 target price on shares of Carnival in a research note on Monday, June 23rd. Finally, Hsbc Global Res upgraded Carnival from a “moderate sell” rating to a “hold” rating in a research note on Friday, May 16th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.71.

About Carnival

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.