Truist Financial Boosts Carnival (NYSE:CCL) Price Target to $31.00

Carnival (NYSE:CCL) had its price target lifted by Truist Financial from $29.00 to $31.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target would indicate a potential upside of 17.61% from the company’s previous close.

Several other research analysts also recently weighed in on CCL. Stifel Nicolaus upped their price target on Carnival from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. HSBC upgraded Carnival from a “hold” rating to a “buy” rating and decreased their target price for the stock from $33.60 to $30.10 in a research report on Monday, March 30th. Argus set a $35.00 price target on Carnival in a research note on Friday, June 26th. Wells Fargo & Company raised their price target on Carnival from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Finally, Tigress Financial lifted their price objective on Carnival from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.08.

Carnival Price Performance

Shares of CCL opened at $26.36 on Thursday. Carnival has a twelve month low of $23.45 and a twelve month high of $34.03. The company has a market capitalization of $36.10 billion, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 1.11 and a beta of 2.32. The firm has a 50 day moving average of $27.52 and a 200 day moving average of $28.06. The company has a quick ratio of 0.29, a current ratio of 0.33 and a debt-to-equity ratio of 1.80.

Carnival (NYSE:CCL) last announced its quarterly earnings results on Tuesday, June 23rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Carnival had a net margin of 11.24% and a return on equity of 26.11%. The firm had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.69 billion. During the same quarter last year, the firm posted $0.35 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Carnival has set its FY 2026 guidance at 2.220-2.220 EPS and its Q3 2026 guidance at 1.350-1.350 EPS. As a group, equities research analysts anticipate that Carnival will post 2.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Carnival

In other news, insider Bettina Alejandra Deynes sold 43,058 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the transaction, the insider directly owned 69,238 shares in the company, valued at approximately $1,945,587.80. This trade represents a 38.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.90% of the company’s stock.

Institutional Trading of Carnival

A number of hedge funds have recently bought and sold shares of CCL. Auto Owners Insurance Co raised its position 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. Viking Global Investors LP acquired a new stake in Carnival in the fourth quarter worth about $429,448,000. Pacer Advisors Inc. grew its stake in shares of Carnival by 2,432.8% during the fourth quarter. Pacer Advisors Inc. now owns 6,689,954 shares of the company’s stock worth $204,311,000 after acquiring an additional 6,425,822 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Carnival by 99.6% during the third quarter. Wellington Management Group LLP now owns 12,159,619 shares of the company’s stock worth $351,535,000 after acquiring an additional 6,066,336 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Carnival by 1,619.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,132,270 shares of the company’s stock worth $156,740,000 after purchasing an additional 4,833,723 shares during the last quarter. Hedge funds and other 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.