Carnival’s (NYSE:CCL) Buy Rating Reiterated at Buckingham Research

Buckingham Research restated their buy rating on shares of Carnival (NYSE:CCL) in a research report report published on Wednesday, December 20th, Marketbeat reports. They currently have a $84.00 price objective on the stock, up from their prior price objective of $80.00.

CCL has been the subject of a number of other research reports. Zacks Investment Research raised Carnival from a hold rating to a buy rating and set a $77.00 price objective for the company in a research note on Tuesday, September 5th. Credit Suisse Group lowered Carnival from an outperform rating to a neutral rating and dropped their price objective for the stock from $78.00 to $70.00 in a research note on Friday, September 15th. Stifel Nicolaus increased their price target on Carnival from $79.00 to $80.00 and gave the company a buy rating in a research note on Wednesday, December 20th. Finally, SunTrust Banks reissued a buy rating and set a $84.00 price target (up from $72.00) on shares of Carnival in a research note on Tuesday, December 19th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $72.78.

Carnival (CCL) traded up $0.89 during mid-day trading on Wednesday, hitting $69.69. The stock had a trading volume of 3,244,000 shares, compared to its average volume of 3,170,000. The stock has a market capitalization of $49,900.00, a PE ratio of 19.41, a P/E/G ratio of 1.17 and a beta of 0.73. The company has a quick ratio of 0.14, a current ratio of 0.18 and a debt-to-equity ratio of 0.29. Carnival has a 52-week low of $52.65 and a 52-week high of $69.89.

Carnival (NYSE:CCL) last posted its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. Carnival’s revenue for the quarter was up 8.2% compared to the same quarter last year. analysts expect that Carnival will post 4.24 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 24th were given a $0.45 dividend. This is a boost from Carnival’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.58%. Carnival’s dividend payout ratio (DPR) is presently 44.57%.

In related news, CEO Arnold W. Donald sold 90,903 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $67.41, for a total value of $6,127,771.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stein Kruse sold 60,665 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total value of $4,039,682.35. The disclosure for this sale can be found here. Insiders sold a total of 354,545 shares of company stock valued at $23,694,789 in the last three months. Insiders own 23.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in CCL. Almanack Investment Partners LLC. purchased a new position in shares of Carnival in the 2nd quarter valued at about $117,000. Grove Bank & Trust boosted its holdings in Carnival by 367.8% in the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock worth $131,000 after buying an additional 1,600 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Carnival by 109.4% in the 2nd quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock worth $171,000 after buying an additional 1,368 shares during the last quarter. Smithfield Trust Co. boosted its holdings in Carnival by 826.2% in the 3rd quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock worth $182,000 after buying an additional 2,520 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC boosted its holdings in Carnival by 1.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock worth $191,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.

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About Carnival

Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.

Analyst Recommendations for Carnival (NYSE:CCL)

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