Carnival (NYSE:CCL) Trading Up 6.3%

Carnival Corp (NYSE:CCL) shares were up 6.3% on Monday . The company traded as high as $16.80 and last traded at $16.78, approximately 35,925,955 shares were traded during mid-day trading. A decline of 25% from the average daily volume of 47,784,871 shares. The stock had previously closed at $15.78.

A number of equities research analysts have recently weighed in on CCL shares. Redburn Partners lowered shares of Carnival from a “buy” rating to a “neutral” rating in a report on Monday, June 22nd. Wedbush reiterated a “buy” rating and set a $26.00 price target on shares of Carnival in a research note on Wednesday, May 6th. Credit Suisse Group initiated coverage on shares of Carnival in a research note on Thursday, May 21st. They set a “neutral” rating and a $12.00 price target on the stock. Cfra cut their price target on shares of Carnival from $42.00 to $11.00 and set a “sell” rating on the stock in a research note on Tuesday, April 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Carnival from $16.00 to $20.00 in a research note on Thursday, June 11th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $21.50.

The company has a debt-to-equity ratio of 0.40, a current ratio of 0.27 and a quick ratio of 0.23. The company has a market cap of $8.23 billion, a price-to-earnings ratio of -4.17 and a beta of 1.92. The business’s 50-day simple moving average is $16.73 and its 200-day simple moving average is $28.79.

Carnival (NYSE:CCL) last announced its earnings results on Thursday, June 18th. The company reported ($3.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.56) by ($1.74). The business had revenue of $700.00 million for the quarter, compared to analyst estimates of $737.81 million. Carnival had a positive return on equity of 0.06% and a negative net margin of 17.57%. The business’s revenue was down 85.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. As a group, sell-side analysts forecast that Carnival Corp will post -6.17 EPS for the current year.

In other Carnival news, Director Randall J. Weisenburger bought 1,250,000 shares of the business’s stock in a transaction on Monday, April 6th. The stock was bought at an average price of $12.09 per share, for a total transaction of $15,112,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.00% of the company’s stock.

Several large investors have recently bought and sold shares of the company. State Street Corp raised its position in shares of Carnival by 5.2% in the first quarter. State Street Corp now owns 18,875,172 shares of the company’s stock valued at $248,586,000 after buying an additional 927,732 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Carnival by 101.6% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 121,002 shares of the company’s stock valued at $1,594,000 after buying an additional 60,976 shares during the last quarter. Optimal Asset Management Inc. raised its position in shares of Carnival by 98.3% in the first quarter. Optimal Asset Management Inc. now owns 21,415 shares of the company’s stock valued at $282,000 after buying an additional 10,617 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Carnival by 6.5% in the first quarter. Public Employees Retirement Association of Colorado now owns 79,913 shares of the company’s stock valued at $1,052,000 after buying an additional 4,892 shares during the last quarter. Finally, Verus Capital Partners LLC raised its position in shares of Carnival by 545.7% in the first quarter. Verus Capital Partners LLC now owns 7,949 shares of the company’s stock valued at $105,000 after buying an additional 6,718 shares during the last quarter. 63.75% of the stock is owned by institutional investors and hedge funds.

About Carnival (NYSE:CCL)

Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.

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