Citigroup Issues Pessimistic Forecast for Carnival Co. & (NYSE:CCL) Stock Price

Carnival Co. & (NYSE:CCL) had its price target lowered by research analysts at Citigroup from $31.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 40.91% from the stock’s previous close.

A number of other analysts also recently weighed in on CCL. Stifel Nicolaus increased their price target on shares of Carnival Co. & from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial increased their target price on shares of Carnival Co. & from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, January 24th. The Goldman Sachs Group boosted their price target on shares of Carnival Co. & from $24.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. William Blair restated an “outperform” rating on shares of Carnival Co. & in a research report on Monday, March 10th. Finally, Barclays lifted their target price on Carnival Co. & from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.72.

Carnival Co. & Trading Up 1.7 %

Shares of CCL traded up $0.35 on Monday, reaching $21.29. 9,401,152 shares of the company’s stock were exchanged, compared to its average volume of 23,676,539. Carnival Co. & has a 12 month low of $13.78 and a 12 month high of $28.72. The stock has a market capitalization of $24.79 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 0.73 and a beta of 2.66. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 2.80. The business has a 50 day moving average price of $24.19 and a two-hundred day moving average price of $23.04.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings data on Friday, March 21st. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.11. Carnival Co. & had a return on equity of 24.13% and a net margin of 7.66%. The business had revenue of $5.81 billion during the quarter, compared to analysts’ expectations of $5.74 billion. During the same period in the previous year, the firm earned ($0.14) earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. Research analysts anticipate that Carnival Co. & will post 1.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CCL. FMR LLC increased its position in shares of Carnival Co. & by 186.6% in the fourth quarter. FMR LLC now owns 9,898,906 shares of the company’s stock valued at $246,681,000 after acquiring an additional 6,444,444 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Carnival Co. & by 33.7% during the 4th quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company’s stock worth $569,423,000 after purchasing an additional 5,761,489 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Carnival Co. & by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 117,095,566 shares of the company’s stock worth $2,918,022,000 after purchasing an additional 4,458,329 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Carnival Co. & during the 4th quarter worth approximately $100,845,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Carnival Co. & by 228.8% in the 4th quarter. AQR Capital Management LLC now owns 4,689,305 shares of the company’s stock valued at $116,857,000 after buying an additional 3,263,204 shares during the last quarter. Institutional investors own 67.19% of the company’s stock.

Carnival Co. & Company Profile

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.