Wealthquest Corp Invests $36,000 in Carnival Corporation (NYSE:CCL)

Wealthquest Corp bought a new position in shares of Carnival Corporation (NYSE:CCL) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,831 shares of the company’s stock, valued at approximately $36,000.

A number of other large investors have also modified their holdings of CCL. Private Advisor Group LLC grew its holdings in shares of Carnival by 26.6% during the fourth quarter. Private Advisor Group LLC now owns 86,837 shares of the company’s stock worth $2,164,000 after buying an additional 18,269 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Carnival in the fourth quarter valued at about $205,000. Wealthspire Advisors LLC purchased a new stake in shares of Carnival in the fourth quarter valued at about $277,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Carnival in the fourth quarter valued at about $52,000. Finally, IFP Advisors Inc grew its holdings in shares of Carnival by 26.3% in the fourth quarter. IFP Advisors Inc now owns 7,599 shares of the company’s stock valued at $189,000 after purchasing an additional 1,580 shares during the period. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Analyst Upgrades and Downgrades

CCL has been the subject of a number of analyst reports. BNP Paribas initiated coverage on shares of Carnival in a report on Thursday, March 27th. They issued an “outperform” rating and a $26.00 price objective for the company. Truist Financial set a $27.00 price objective on shares of Carnival in a report on Monday. Northcoast Research initiated coverage on shares of Carnival in a report on Friday, April 25th. They issued a “neutral” rating for the company. Hsbc Global Res raised shares of Carnival from a “moderate sell” rating to a “hold” rating in a report on Friday, May 16th. Finally, Stifel Nicolaus upped their price objective on shares of Carnival from $33.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.68.

Carnival Stock Down 0.7%

Shares of CCL opened at $25.51 on Thursday. The stock has a market capitalization of $29.76 billion, a PE ratio of 13.79, a P/E/G ratio of 0.57 and a beta of 2.58. Carnival Corporation has a 1 year low of $13.78 and a 1 year high of $28.72. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.21 and a current ratio of 0.34. The company’s 50-day simple moving average is $21.89 and its 200-day simple moving average is $22.83.

Carnival (NYSE:CCL) last issued its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.11. The business had revenue of $6.33 billion for the quarter, compared to analysts’ expectations of $6.20 billion. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. Analysts forecast that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Carnival Company Profile

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.