The Goldman Sachs Group Issues Positive Forecast for Carnival Co. & (NYSE:CCL) Stock Price

Carnival Co. & (NYSE:CCL) had its target price raised by The Goldman Sachs Group from $24.00 to $32.00 in a report published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research firms have also recently issued reports on CCL. Citigroup increased their price objective on Carnival Co. & from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Hsbc Global Res upgraded Carnival Co. & to a “moderate sell” rating in a research report on Tuesday, September 3rd. Morgan Stanley increased their price objective on Carnival Co. & from $15.00 to $16.50 and gave the stock an “underweight” rating in a research report on Tuesday, October 1st. Macquarie increased their price objective on Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, Bank of America increased their price objective on Carnival Co. & from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Carnival Co. & has an average rating of “Moderate Buy” and an average target price of $25.79.

Carnival Co. & Price Performance

Shares of NYSE CCL opened at $25.86 on Tuesday. The company has a debt-to-equity ratio of 3.10, a current ratio of 0.30 and a quick ratio of 0.26. The stock has a fifty day moving average price of $22.75 and a 200 day moving average price of $18.88. Carnival Co. & has a 1-year low of $13.78 and a 1-year high of $27.17. The company has a market cap of $29.84 billion, a PE ratio of 23.08 and a beta of 2.67.

Carnival Co. & (NYSE:CCL) last issued 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 22.30% and a net margin of 6.39%. The firm had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same period last year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Sell-side analysts forecast that Carnival Co. & will post 1.33 EPS for the current year.

Insider Activity

In related news, Director Sir Jonathon Band sold 17,500 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $21.72, for a total transaction of $380,100.00. Following the sale, the director now directly owns 65,789 shares in the company, valued at approximately $1,428,937.08. This trade represents a 21.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Carnival Co. &

Hedge funds have recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Carnival Co. & during the 2nd quarter worth approximately $466,838,000. Marshall Wace LLP increased its holdings in Carnival Co. & by 510.5% during the 2nd quarter. Marshall Wace LLP now owns 10,331,092 shares of the company’s stock worth $193,398,000 after purchasing an additional 8,638,865 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in Carnival Co. & by 8,431.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 6,644,000 shares of the company’s stock worth $122,781,000 after purchasing an additional 6,566,120 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Carnival Co. & by 43.6% during the 2nd quarter. Renaissance Technologies LLC now owns 9,585,200 shares of the company’s stock worth $179,435,000 after purchasing an additional 2,911,100 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Carnival Co. & by 2,400.1% during the 3rd quarter. International Assets Investment Management LLC now owns 3,010,189 shares of the company’s stock worth $556,280,000 after purchasing an additional 2,889,785 shares during the last quarter. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

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.