Fintel reports that on July 18, 2023, Argus Research upgraded their outlook for Carnival (NYSE:CCL) from Hold to Buy .
Analyst Price Forecast Suggests 3.35% Downside
As of July 6, 2023, the average one-year price target for Carnival is 17.12. The forecasts range from a low of 7.07 to a high of $26.25. The average price target represents a decrease of 3.35% from its latest reported closing price of 17.71.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Carnival is 21,588MM, an increase of 44.12%. The projected annual non-GAAP EPS is 0.51.
What is the Fund Sentiment?
There are 1161 funds or institutions reporting positions in Carnival. This is an increase of 11 owner(s) or 0.96% in the last quarter. Average portfolio weight of all funds dedicated to CCL is 0.09%, an increase of 47.69%. Total shares owned by institutions decreased in the last three months by 4.09% to 587,240K shares. 
The put/call ratio of CCL is 1.12, indicating a bearish outlook.
What are Other Shareholders Doing?
Public Investment Fund holds 50,831K shares representing 4.03% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 31,154K shares representing 2.47% ownership of the company. In it's prior filing, the firm reported owning 30,451K shares, representing an increase of 2.26%. The firm increased its portfolio allocation in CCL by 18.96% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 23,406K shares representing 1.86% ownership of the company. In it's prior filing, the firm reported owning 23,286K shares, representing an increase of 0.51%. The firm increased its portfolio allocation in CCL by 22.53% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 23,382K shares representing 1.86% ownership of the company. In it's prior filing, the firm reported owning 23,150K shares, representing an increase of 0.99%. The firm increased its portfolio allocation in CCL by 17.95% over the last quarter.
Geode Capital Management holds 20,504K shares representing 1.63% ownership of the company. In it's prior filing, the firm reported owning 20,034K shares, representing an increase of 2.29%. The firm increased its portfolio allocation in CCL by 19.20% over the last quarter.
Carnival Background Information
(This description is provided by the company.)
Carnival Corporation & plc is one of the world's largest leisure travel companies with a portfolio of nine of the world's leading cruise lines. With operations in North America, Australia, Europe and Asia, its portfolio features Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, P&O Cruises (Australia), Costa Cruises, AIDA Cruises, P&O Cruises (UK) and Cunard.
Additional reading:
- Form of Performance-Based Restricted Stock Unit Agreement for the Carnival Corporation 2020 Stock Plan.
- Form of Time-Based Restricted Stock Unit Agreement for the Carnival Corporation 2020 Stock Plan.
- Amendment and Restatement Agreement dated May 25, 2023 in respect of the Multicurrency Revolving Facilities Agreement dated May 18, 2011, as most recently amended and restated on August 6, 2019 (and as otherwise amended from time to time), among Carnival Corporation, Carnival plc and Costa Crociere S.p.A., JPMorgan Chase Bank, N.A. as retiring arranger, Bank of America Europe Designated Activity Company as retiring facilities agent, and J.P. Morgan SE as new arranger and successor facilities agent.
- Form S-8 (Form Type) CARNIVAL CORPORATION CARNIVAL PLC (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered Securities
- CARNIVAL CORPORATION & PLC REPORTS SECOND QUARTER 2023 EARNINGS AND SETS SIGHTS ON 2026 SEA CHANGE PROGRAM
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
