Carnival (NYSE:CCL) Given New $28.70 Price Target at Sanford C. Bernstein
by Sarita Garza · The Markets DailyCarnival (NYSE:CCL – Get Free Report) had its price target dropped by equities researchers at Sanford C. Bernstein from $33.00 to $28.70 in a report released on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Sanford C. Bernstein’s target price suggests a potential upside of 18.83% from the company’s previous close.
A number of other equities analysts also recently commented on CCL. Stifel Nicolaus decreased their target price on Carnival from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Argus reiterated a “buy” rating and set a $35.00 price target on shares of Carnival in a research report on Monday, December 22nd. William Blair reissued an “outperform” rating on shares of Carnival in a report on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on Carnival from $33.00 to $34.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Finally, Zacks Research lowered Carnival from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Twenty research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.49.
Get Our Latest Analysis on CCL
Carnival Price Performance
Shares of CCL opened at $24.15 on Monday. The firm has a market cap of $29.93 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.07 and a beta of 2.42. The stock has a 50 day moving average of $28.95 and a 200-day moving average of $28.82. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 1.82. Carnival has a 52 week low of $15.07 and a 52 week high of $34.03.
Carnival (NYSE:CCL – Get Free Report) last posted its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. As a group, analysts forecast that Carnival will post 1.77 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Auto Owners Insurance Co lifted its holdings in shares of Carnival by 2,954.0% in the fourth quarter. Auto Owners Insurance Co now owns 19,851,000 shares of the company’s stock valued at $60,625,000 after buying an additional 19,201,000 shares during the period. Viking Global Investors LP bought a new position in shares of Carnival during the 4th quarter valued at about $429,448,000. Holocene Advisors LP grew its stake in shares of Carnival by 184.3% in the 2nd quarter. Holocene Advisors LP now owns 10,289,947 shares of the company’s stock worth $289,353,000 after purchasing an additional 6,669,935 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Carnival by 2,432.8% in the 4th quarter. Pacer Advisors Inc. now owns 6,689,954 shares of the company’s stock worth $204,311,000 after purchasing an additional 6,425,822 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Carnival by 99.6% in the 3rd quarter. Wellington Management Group LLP now owns 12,159,619 shares of the company’s stock worth $351,535,000 after purchasing an additional 6,066,336 shares in the last quarter. 67.19% of the stock is currently owned by institutional investors.
Carnival Company Profile
Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company’s core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.
Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.