Credit Suisse Group upgraded shares of Carnival (NYSE:CCL) from a neutral rating to an outperform rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has $70.00 target price on the stock, up from their previous target price of $66.05.
Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered Carnival from a hold rating to a sell rating in a report on Tuesday, November 28th. Deutsche Bank reaffirmed a hold rating and set a $61.00 price objective (down previously from $62.00) on shares of Carnival in a report on Wednesday, September 27th. Stifel Nicolaus raised their price objective on Carnival from $79.00 to $80.00 and gave the stock a buy rating in a report on Wednesday, December 20th. SunTrust Banks reaffirmed a buy rating and set a $84.00 price objective (up previously from $72.00) on shares of Carnival in a report on Tuesday, December 19th. They noted that the move was a valuation call. Finally, Buckingham Research reaffirmed a buy rating and set a $84.00 price objective (up previously from $80.00) on shares of Carnival in a report on Wednesday, December 20th. Seven equities research 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 company. The company has an average rating of Buy and an average price target of $72.78.
Shares of Carnival (NYSE CCL) traded up $0.89 during mid-day trading on Tuesday, hitting $69.69. The company’s stock had a trading volume of 3,243,963 shares, compared to its average volume of 3,170,000. The stock has a market capitalization of $49,900.00, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 1.17 and a beta of 0.73. Carnival has a 12 month low of $52.65 and a 12 month high of $69.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.14 and a current ratio of 0.18.
Carnival (NYSE:CCL) last issued its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.12. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.15 billion. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 earnings per share. research analysts forecast that Carnival will post 4.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were given a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.58%. This is an increase from Carnival’s previous quarterly dividend of $0.40. Carnival’s dividend payout ratio (DPR) is presently 44.57%.
In other news, CEO Arnold W. Donald sold 6,000 shares of Carnival stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $68.00, for a total transaction of $408,000.00. Following the completion of the sale, the chief executive officer now directly owns 115,572 shares in the company, valued at approximately $7,858,896. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Arnold W. Donald sold 3,000 shares of Carnival stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $68.00, for a total transaction of $204,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 354,545 shares of company stock valued at $23,694,789. 23.80% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Pathstone Family Office LLC lifted its position in shares of Carnival by 200.0% during the 2nd quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock valued at $2,493,000 after acquiring an additional 38 shares during the period. YorkBridge Wealth Partners LLC lifted its position in shares of Carnival by 1.4% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after acquiring an additional 40 shares during the period. Security National Bank of Sioux City Iowa IA lifted its position in shares of Carnival by 0.5% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 13,390 shares of the company’s stock valued at $878,000 after acquiring an additional 65 shares during the period. Scotia Capital Inc. lifted its position in shares of Carnival by 0.4% during the 2nd quarter. Scotia Capital Inc. now owns 16,604 shares of the company’s stock valued at $1,089,000 after acquiring an additional 71 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Carnival by 0.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,096 shares of the company’s stock valued at $1,055,000 after acquiring an additional 93 shares during the period. Institutional investors own 75.91% of the company’s stock.
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.
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