Carnival Co. & (NYSE:CCL) recently received an upgrade from research analysts at Truist Financial, shifting the rating from “sell” to “hold.” This adjustment came in a research note that was issued to investors on September 19, 2023, and provides insight into the potential performance of the company’s stock. The analysts at Truist Financial have also increased their price target for Carnival Co. & to $17.00, up from the previous target of $16.00. With this new price target, it suggests a potential upside of 12.96% from the stock’s previous close.
Shares of NYSE CCL opened at $15.05 on Tuesday, indicating a starting point for the trading day following this update. It is important to note that Carnival Co. & has experienced significant fluctuations in its stock price over the past year. The one-year low stands at $6.11, while the one-year high reached $19.55.
As for its financials, Carnival Co. & holds a market capitalization of $16.85 billion and operates with a debt-to-equity ratio of 5.44.This indicates that the company leans more towards debt financing rather than equity financing.
Carnival Corporation & plc specializes in providing leisure travel services across various brands such as AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, Princess Cruises, P&O Cruises (Australia), P&O Cruises (UK), and Seabourn brand names.
Looking into previous earnings announcements, Carnival Co. & last reported its quarterly earnings data on Monday, June 26th.The results showed an earnings per share (EPS) of ($0.31) for the quarter, surpassing analysts’ consensus estimate of ($0.34) by $0.03.Additionally,the business generated revenue of $4.91 billion during the quarter, which exceeded analysts’ expectations of $4.79 billion. Comparatively, the same quarter last year saw Carnival Co. & with ($1.64) in earnings per share.
Analysts predict that Carnival Co. & will post a negative EPS of -0.13 for the current fiscal year.
This recent upgrade and price target adjustment from Truist Financial provide investors and market participants with valuable information to consider when forming their investment strategies regarding Carnival Co. & stock. It is essential to conduct thorough research and analysis before making any investment decisions, taking into account various factors such as financial performance, industry trends, and market conditions.
Updated on: 19/09/2023
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
We did not find social sentiment data for this stock
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Analysis and Investment Strategies Surrounding Carnival Corporation & plc (CCL)
In recent months, there has been a significant amount of activity among equities analysts regarding Carnival Corporation & plc (CCL). Multiple firms have provided their insights and opinions on the company’s stock, offering various price targets and ratings.
Susquehanna, for example, raised their price objective on Carnival Co. from $11.00 to $17.00 in a research note dated June 27th, 2023. Similarly, Bank of America increased the stock’s rating from “neutral” to “buy” and lifted the price target from $11.00 to $20.00 in a research note released on June 12th. Morgan Stanley also weighed in, increasing their price objective from $7.00 to $11.50 on June 27th.
Argus took things a step further by upgrading the shares of Carnival Co. from a “hold” rating to a “buy” rating and setting a target price of $21.00 for the company in their research report published on July 18th. Redburn Partners followed suit by upgrading the shares of Carnival Co., moving them from a “neutral” rating to a “buy” rating and establishing a price target of $23.00 in their research report issued on September 14th.
It’s worth noting that while two investment analysts rated the stock as “sell,” four assigned it as “hold,” and fourteen recommended it as a “buy.” This combination of ratings indicates confidence and optimism towards the future performance of Carnival Co.
Taking into account data obtained from Bloomberg, it is reported that Carnival Co. currently holds a consensus rating of “Moderate Buy,” with an average target price of $17.66.
Furthermore, hedge funds have also shown interest in Carnival Co.’s stock by either adding or reducing their stakes in the company.
For instance, Mach 1 Financial Group LLC acquired new shares during the first quarter, amounting to approximately $3,052,000. Aspire Private Capital LLC followed suit in the same quarter, acquiring a position valued at an astonishing $12,433,750,000.
Acadian Asset Management LLC jumped on board during the second quarter, purchasing shares worth $27,000. Meanwhile, Massmutual Trust Co. FSB ADV increased its holdings by 168.0% in the same period and now owns 1,530 shares – equivalent to $29,000 – after buying an additional 959 shares.
Finally, Farther Finance Advisors LLC concluded this trend of hedge fund activity by raising its position in Carnival Co. by 59.6% in the second quarter. The firm now owns 1,792 shares of the company’s stock valued at $34,000 after purchasing an additional 669 shares.
Collectively, these hedge funds represent ownership of approximately 55.54% of Carnival Co.’s stock.
As September 19th rolls around, it is evident that numerous equities analysts and hedge funds have shared their analysis and investment strategies concerning Carnival Corporation & plc (CCL). With varying price objectives and ratings offered by notable institutions such as Susquehanna and Bank of America, market participants are closely observing this dynamic company’s future potential.