Argus Cuts Carnival (NYSE:CCL) Price Target to $35.00

Carnival (NYSE:CCL) had its price target cut by Argus from $40.00 to $35.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently commented on CCL. Citigroup lifted their target price on Carnival from $30.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Zacks Research lowered shares of Carnival from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Loop Capital reiterated a “hold” rating and set a $22.00 price objective on shares of Carnival in a research report on Monday, June 23rd. JPMorgan Chase & Co. raised their target price on shares of Carnival from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Finally, Stifel Nicolaus lifted their price target on shares of Carnival from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Seventeen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Carnival currently has a consensus rating of “Moderate Buy” and an average price target of $32.90.

Carnival Price Performance

CCL stock opened at $28.84 on Tuesday. The company has a fifty day simple moving average of $30.44 and a two-hundred day simple moving average of $25.42. Carnival has a 52 week low of $15.07 and a 52 week high of $32.80. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.10. The firm has a market capitalization of $33.67 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 0.60 and a beta of 2.68.

Carnival (NYSE:CCL) last announced its earnings results on Monday, September 29th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.11. The firm had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.09 billion. Carnival had a net margin of 10.07% and a return on equity of 27.86%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 EPS. Carnival has set its Q4 2025 guidance at 0.230-0.230 EPS. FY 2025 guidance at 2.140-2.140 EPS. Analysts anticipate that Carnival will post 1.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Carnival

In related news, Director Sir Jonathon Band sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total value of $371,875.00. Following the completion of the sale, the director owned 64,406 shares in the company, valued at approximately $1,916,078.50. The trade was a 16.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Carnival

Several hedge funds have recently made changes to their positions in CCL. Evolution Wealth Management Inc. purchased a new position in shares of Carnival during the second quarter valued at $25,000. Oliver Lagore Vanvalin Investment Group bought a new position in Carnival during the 2nd quarter worth about $28,000. N.E.W. Advisory Services LLC purchased a new position in Carnival during the 1st quarter valued at about $25,000. Graybill Wealth Management LTD. bought a new stake in shares of Carnival in the 1st quarter valued at about $26,000. Finally, Whipplewood Advisors LLC raised its holdings in shares of Carnival by 301.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 1,560 shares of the company’s stock valued at $44,000 after purchasing an additional 1,171 shares in the last quarter. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Carnival Company Profile

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.