Carnival Co. & (NYSE:CCL) Reaches New 52-Week High – Still a Buy?

Carnival Co. & plc (NYSE:CCL)’s share price reached a new 52-week high on Monday . The company traded as high as $22.39 and last traded at $22.14, with a volume of 4117831 shares. The stock had previously closed at $20.91.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CCL. Truist Financial boosted their price objective on Carnival Co. & from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Morgan Stanley lifted their target price on Carnival Co. & from $15.00 to $16.50 and gave the company an “underweight” rating in a research report on Tuesday, October 1st. Citigroup raised their target price on shares of Carnival Co. & from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price target on shares of Carnival Co. & from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Tigress Financial lifted their price objective on shares of Carnival Co. & from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.53.

Carnival Co. & Price Performance

The stock has a 50 day moving average price of $18.19 and a 200-day moving average price of $16.76. The company has a debt-to-equity ratio of 3.10, a current ratio of 0.30 and a quick ratio of 0.26. The stock has a market capitalization of $24.32 billion, a price-to-earnings ratio of 32.17 and a beta of 2.69.

Carnival Co. & (NYSE:CCL) last issued its earnings results on Monday, September 30th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.10. Carnival Co. & had a net margin of 6.39% and a return on equity of 22.30%. The business had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the prior year, the business earned $0.86 earnings per share. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, analysts forecast that Carnival Co. & plc will post 1.33 earnings per share for the current year.

Institutional Trading of Carnival Co. &

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Park Avenue Securities LLC purchased a new stake in shares of Carnival Co. & in the 1st quarter valued at approximately $458,000. Kingswood Wealth Advisors LLC acquired a new position in Carnival Co. & during the first quarter worth $231,000. Brookstone Capital Management grew its stake in shares of Carnival Co. & by 232.8% in the first quarter. Brookstone Capital Management now owns 49,973 shares of the company’s stock valued at $817,000 after buying an additional 34,959 shares in the last quarter. Oxinas Partners Wealth Management LLC raised its holdings in shares of Carnival Co. & by 16.9% in the 1st quarter. Oxinas Partners Wealth Management LLC now owns 76,204 shares of the company’s stock valued at $1,245,000 after buying an additional 11,000 shares during the period. Finally, Silverlake Wealth Management LLC boosted its holdings in Carnival Co. & by 43.3% during the 1st quarter. Silverlake Wealth Management LLC now owns 62,953 shares of the company’s stock valued at $1,029,000 after acquiring an additional 19,012 shares during the period. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

About Carnival Co. &

Carnival Corporation & plc engages in the provision of leisure travel services in North America, Australia, Europe, Asia, and internationally. The company operates through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations, private islands, and a solar park, as well as owns and operates hotels, lodges, glass-domed railcars, and motor coaches.