Carnival (NYSE:CCL) Raised to Buy at HSBC

Carnival (NYSE:CCL) was upgraded by research analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a $30.10 price objective on the stock, down from their previous price objective of $33.60. HSBC’s target price would suggest a potential upside of 24.62% from the company’s previous close.

Several other brokerages have also recently weighed in on CCL. The Goldman Sachs Group reduced their price objective on shares of Carnival from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Carnival from $33.00 to $34.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Mizuho boosted their target price on Carnival from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday. TD Cowen reaffirmed a “buy” rating on shares of Carnival in a research note on Tuesday, January 13th. Finally, Wells Fargo & Company raised their price objective on Carnival from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Twenty research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.69.

Carnival Stock Performance

NYSE:CCL opened at $24.15 on Monday. The stock’s 50-day moving average is $28.95 and its 200-day moving average is $28.82. Carnival has a 1-year low of $15.07 and a 1-year high of $34.03. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 1.82. The stock has a market cap of $29.93 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 1.07 and a beta of 2.42.

Carnival (NYSE:CCL) last posted its earnings results on Friday, March 27th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. Carnival had a net margin of 11.48% and a return on equity of 26.92%. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.13 billion. During the same period last year, the company earned $0.13 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Carnival will post 1.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. grew its holdings in Carnival by 70.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 696,693 shares of the company’s stock worth $21,277,000 after buying an additional 287,413 shares in the last quarter. World Investment Advisors lifted its stake in Carnival by 65.1% during the 4th quarter. World Investment Advisors now owns 24,451 shares of the company’s stock valued at $747,000 after acquiring an additional 9,644 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Carnival by 23.8% during the 4th quarter. Corient Private Wealth LLC now owns 276,752 shares of the company’s stock worth $8,452,000 after acquiring an additional 53,275 shares during the last quarter. Auto Owners Insurance Co grew its stake in shares of Carnival by 2,954.0% in the 4th quarter. Auto Owners Insurance Co now owns 19,851,000 shares of the company’s stock worth $60,625,000 after acquiring an additional 19,201,000 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Carnival by 26.7% in the 4th quarter. Hsbc Holdings PLC now owns 1,806,036 shares of the company’s stock worth $55,245,000 after acquiring an additional 380,391 shares in the last quarter. Institutional investors own 67.19% of the company’s stock.

About Carnival

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.