Wells Fargo & Company Forecasts Strong Price Appreciation for Carnival Co. & (NYSE:CCL) Stock

Carnival Co. & (NYSE:CCL) had its price objective increased by Wells Fargo & Company from $25.00 to $30.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also weighed in on CCL. Barclays increased their price objective on shares of Carnival Co. & from $26.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Sanford C. Bernstein started coverage on Carnival Co. & in a research report on Tuesday, November 26th. They set a “market perform” rating and a $26.00 price target on the stock. Stifel Nicolaus boosted their price objective on Carnival Co. & from $27.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. The Goldman Sachs Group raised their target price on Carnival Co. & from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Mizuho lifted their price target on Carnival Co. & from $26.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.62.

Carnival Co. & Stock Down 3.5 %

CCL stock opened at $24.82 on Monday. The stock has a market capitalization of $28.65 billion, a PE ratio of 22.16 and a beta of 2.67. Carnival Co. & has a 52 week low of $13.78 and a 52 week high of $27.17. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 3.10. The firm has a 50 day moving average of $23.81 and a 200 day moving average of $19.38.

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

Insider Activity

In other Carnival Co. & news, Director Sir Jonathon Band sold 17,500 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $21.72, for a total transaction of $380,100.00. Following the completion of the transaction, the director now owns 65,789 shares of the company’s stock, valued at $1,428,937.08. This represents 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 through this hyperlink. Company insiders own 11.00% of the company’s stock.

Institutional Trading of Carnival Co. &

Large investors have recently made changes to their positions in the company. State Street Corp boosted its stake in Carnival Co. & by 5.9% during the 3rd quarter. State Street Corp now owns 41,426,562 shares of the company’s stock worth $765,563,000 after purchasing an additional 2,301,906 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Carnival Co. & during the second quarter worth about $466,838,000. Geode Capital Management LLC raised its holdings in Carnival Co. & by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 24,027,160 shares of the company’s stock valued at $442,515,000 after acquiring an additional 811,692 shares during the last quarter. Marshall Wace LLP grew its position in shares of Carnival Co. & by 510.5% in the second quarter. Marshall Wace LLP now owns 10,331,092 shares of the company’s stock valued at $193,398,000 after purchasing an additional 8,638,865 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Carnival Co. & by 43.6% in the second quarter. Renaissance Technologies LLC now owns 9,585,200 shares of the company’s stock valued at $179,435,000 after purchasing an additional 2,911,100 shares during the last quarter. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

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.