Morgan Stanley Boosts Carnival Co. & (NYSE:CCL) Price Target to $16.50

Carnival Co. & (NYSE:CCL) had its price objective increased by investment analysts at Morgan Stanley from $15.00 to $16.50 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s target price indicates a potential downside of 6.83% from the company’s previous close.

Several other analysts have also issued reports on CCL. Stifel Nicolaus boosted 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. Citigroup boosted their target price on shares of Carnival Co. & from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft raised their price target on Carnival Co. & from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday, June 26th. Truist Financial boosted their price objective on Carnival Co. & from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Finally, Mizuho raised their target price on Carnival Co. & from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.84.

Carnival Co. & Price Performance

Carnival Co. & stock opened at $17.71 on Tuesday. The company has a current ratio of 0.28, a quick ratio of 0.24 and a debt-to-equity ratio of 3.99. The business’s 50 day simple moving average is $16.56 and its 200 day simple moving average is $16.27. Carnival Co. & has a 12 month low of $10.84 and a 12 month high of $19.74. The company has a market cap of $19.88 billion, a price-to-earnings ratio of 27.25 and a beta of 2.69.

Carnival Co. & (NYSE:CCL) last posted its quarterly earnings results on Monday, September 30th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.10. Carnival Co. & had a return on equity of 15.22% and a net margin of 3.86%. The company had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. Sell-side analysts forecast that Carnival Co. & will post 1.21 EPS for the current year.

Hedge Funds Weigh In On Carnival Co. &

A number of institutional investors have recently made changes to their positions in CCL. Richardson Capital Management LLC purchased a new position in Carnival Co. & in the first quarter worth $26,000. Family Firm Inc. bought a new position in shares of Carnival Co. & during the 2nd quarter valued at about $26,000. Hantz Financial Services Inc. purchased a new position in shares of Carnival Co. & during the 2nd quarter valued at about $30,000. ICA Group Wealth Management LLC purchased a new stake in Carnival Co. & in the fourth quarter worth approximately $31,000. Finally, BNP Paribas bought a new position in shares of Carnival Co. & during the 1st quarter valued at $32,000. Institutional investors own 67.19% of the company’s stock.

About Carnival Co. &

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.