Carnival (NYSE:CCL) Stock Rating Upgraded by HSBC

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

A number of other research firms have also recently commented on CCL. Sanford C. Bernstein lifted their price target on shares of Carnival from $26.00 to $33.00 and gave the stock a “market perform” rating in a report on Tuesday, January 6th. Morgan Stanley raised Carnival from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $33.00 to $31.00 in a report on Thursday, March 19th. UBS Group boosted their target price on Carnival from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, January 12th. William Blair reaffirmed an “outperform” rating on shares of Carnival in a research report on Tuesday, March 3rd. Finally, Bank of America lifted their price objective on Carnival from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Twenty analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Carnival has a consensus rating of “Moderate Buy” and a consensus price target of $34.69.

Carnival Stock Performance

Shares of CCL opened at $24.15 on Monday. The stock has a 50 day moving average of $28.95 and a 200 day moving average of $28.82. The company has a current ratio of 0.30, a quick ratio of 0.26 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 company has a market capitalization of $29.93 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.07 and a beta of 2.42.

Carnival (NYSE:CCL) last announced its quarterly earnings data 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 analyst estimates of $6.13 billion. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that Carnival will post 1.77 earnings per share for the current year.

Hedge Funds Weigh In On Carnival

A number of large investors have recently made changes to their positions in the stock. Auto Owners Insurance Co lifted its holdings in Carnival by 2,954.0% during the 4th quarter. Auto Owners Insurance Co now owns 19,851,000 shares of the company’s stock worth $60,625,000 after purchasing an additional 19,201,000 shares in the last quarter. Viking Global Investors LP purchased a new position in Carnival during the 4th quarter valued at about $429,448,000. Holocene Advisors LP increased its position in shares of Carnival by 184.3% during the second quarter. Holocene Advisors LP now owns 10,289,947 shares of the company’s stock valued at $289,353,000 after buying an additional 6,669,935 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Carnival by 2,432.8% in the fourth quarter. Pacer Advisors Inc. now owns 6,689,954 shares of the company’s stock worth $204,311,000 after buying an additional 6,425,822 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Carnival by 99.6% in the third quarter. Wellington Management Group LLP now owns 12,159,619 shares of the company’s stock worth $351,535,000 after buying an additional 6,066,336 shares in the last quarter. 67.19% of the stock is owned by institutional investors.

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.