Truist Financial Forecasts Strong Price Appreciation for Carnival Co. & (NYSE:CCL) Stock

Carnival Co. & (NYSE:CCL) had its price objective raised by Truist Financial from $20.00 to $29.00 in a report released on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential upside of 13.02% from the stock’s previous close.

Several other equities analysts have also issued reports on CCL. Tigress Financial lifted their target price on shares of Carnival Co. & from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. Bank of America boosted their target price on Carnival Co. & from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Stifel Nicolaus raised their price target on shares of Carnival Co. & from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Morgan Stanley increased their target price on Carnival Co. & from $15.00 to $16.50 and gave the company an “underweight” rating in a research note on Tuesday, October 1st. Finally, Mizuho lifted their target price on Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Carnival Co. & currently has an average rating of “Moderate Buy” and an average price target of $24.44.

Carnival Co. & Trading Up 0.9 %

NYSE CCL opened at $25.66 on Monday. The firm has a market capitalization of $29.62 billion, a PE ratio of 22.91 and a beta of 2.66. The stock’s 50 day moving average is $21.84 and its 200 day moving average is $18.43. Carnival Co. & has a twelve month low of $13.78 and a twelve month high of $25.80. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 3.10.

Carnival Co. & (NYSE:CCL) last announced its earnings results on Monday, September 30th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.10. The firm had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.82 billion. Carnival Co. & had a net margin of 6.39% and a return on equity of 22.30%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. Research analysts forecast that Carnival Co. & will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Sir Jonathon Band sold 17,500 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $21.72, for a total value of $380,100.00. Following the transaction, the director now directly owns 65,789 shares in the company, valued at $1,428,937.08. The trade was a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.00% of the stock is currently owned by insiders.

Institutional Trading of Carnival Co. &

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCL. Ashton Thomas Securities LLC purchased a new stake in Carnival Co. & during the 3rd quarter valued at approximately $25,000. Family Firm Inc. bought a new stake in Carnival Co. & in the 2nd quarter worth approximately $26,000. Hantz Financial Services Inc. purchased a new stake in shares of Carnival Co. & during the 2nd quarter worth approximately $30,000. Assetmark Inc. boosted its position in shares of Carnival Co. & by 1,431.5% during the 3rd quarter. Assetmark Inc. now owns 1,654 shares of the company’s stock valued at $31,000 after acquiring an additional 1,546 shares during the last quarter. Finally, CVA Family Office LLC increased its position in Carnival Co. & by 163.9% in the third quarter. CVA Family Office LLC now owns 1,940 shares of the company’s stock worth $36,000 after purchasing an additional 1,205 shares during the last quarter. Institutional investors own 67.19% of the company’s stock.

Carnival Co. & Company Profile

Carnival Corporation & plc engages in the provision of leisure travel services in North America, Australia, Europe, Asia, and internationally. The company operates through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations, private islands, and a solar park, as well as owns and operates hotels, lodges, glass-domed railcars, and motor coaches.