Wells Fargo & Company Cuts Carnival (NYSE:CCL) Price Target to $37.00

Carnival (NYSE:CCL) had its price objective lowered by stock analysts at Wells Fargo & Company from $40.00 to $37.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 51.65% from the company’s current price.

CCL has been the subject of a number of other reports. Citigroup boosted their price target on Carnival from $36.00 to $39.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Bank of America raised their target price on Carnival from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, January 12th. The Goldman Sachs Group cut their target price on Carnival from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. UBS Group increased their price target on Carnival from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Finally, Jefferies Financial Group upped their price objective on shares of Carnival from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Twenty equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.35.

Carnival Stock Up 0.9%

Shares of NYSE CCL traded up $0.21 on Monday, hitting $24.40. The company had a trading volume of 8,105,645 shares, compared to its average volume of 23,816,674. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82. Carnival has a 12-month low of $15.07 and a 12-month high of $34.03. The firm has a market capitalization of $30.23 billion, a P/E ratio of 10.76, a PEG ratio of 1.07 and a beta of 2.42. The business has a 50 day moving average of $28.95 and a two-hundred day moving average of $28.82.

Carnival (NYSE:CCL) last released its quarterly 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. The firm 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%.Carnival’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. As a group, equities research analysts forecast that Carnival will post 1.77 earnings per share for the current fiscal year.

Institutional Trading of Carnival

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCL. CVA Family Office LLC boosted its stake in shares of Carnival by 15.6% during the 4th quarter. CVA Family Office LLC now owns 2,597 shares of the company’s stock worth $79,000 after acquiring an additional 350 shares in the last quarter. Net Worth Advisory Group raised its holdings in Carnival by 2.9% during the 4th quarter. Net Worth Advisory Group now owns 12,383 shares of the company’s stock worth $378,000 after buying an additional 354 shares during the period. Triad Wealth Partners LLC lifted its stake in Carnival by 2.1% during the fourth quarter. Triad Wealth Partners LLC now owns 17,464 shares of the company’s stock valued at $533,000 after buying an additional 358 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Carnival by 3.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 10,540 shares of the company’s stock worth $322,000 after buying an additional 358 shares during the period. Finally, StoneX Group Inc. raised its holdings in shares of Carnival by 4.9% during the fourth quarter. StoneX Group Inc. now owns 7,935 shares of the company’s stock valued at $242,000 after acquiring an additional 368 shares during the period. 67.19% of the stock is owned by institutional investors and hedge funds.

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.