Truist Financial Sticks to Their Hold Rating for Carnival (CCL)
In a report released yesterday, Patrick Scholes from Truist Financial maintained a Hold rating on Carnival, with a price target of $31.00.
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Scholes covers the Consumer Cyclical sector, focusing on stocks such as Carnival, Choice Hotels, and Norwegian Cruise Line. According to TipRanks, Scholes has an average return of 9.8% and a 58.82% success rate on recommended stocks.
In addition to Truist Financial, Carnival also received a Hold from Bernstein’s Richard Clarke in a report issued on July 20. However, on July 15, Bank of America Securities reiterated a Buy rating on Carnival (NYSE: CCL).
Based on Carnival’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $6.66 billion and a net profit of $537 million. In comparison, last year the company earned a revenue of $6.33 billion and had a net profit of $565 million
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CCL in relation to earlier this year. Last month, Bettina Alejandra Deynes, the CHRO of CCL sold 43,058.00 shares for a total of $1,209,929.80.
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