Carnival (NYSE:CCL)‘s stock had its “buy” rating reaffirmed by equities research analysts at Tigress Financial in a report issued on Friday, December 22nd.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Carnival from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Tuesday, September 5th. Barclays lifted their price target on shares of Carnival from $67.00 to $73.00 and gave the company an “equal weight” rating in a report on Thursday, December 21st. Credit Suisse Group downgraded shares of Carnival from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $78.00 to $70.00 in a report on Friday, September 15th. Morgan Stanley upgraded shares of Carnival from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $65.94 to $68.00 in a report on Wednesday, December 6th. Finally, SunTrust Banks restated a “buy” rating and issued a $84.00 target price (up from $72.00) on shares of Carnival in a report on Tuesday, December 19th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Carnival currently has a consensus rating of “Buy” and a consensus target price of $72.78.
Carnival (NYSE CCL) opened at $69.69 on Friday. 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 has a one year low of $52.65 and a one year high of $69.89. The firm has a market cap of $49,900.00, a price-to-earnings ratio of 19.41, a P/E/G ratio of 1.17 and a beta of 0.73.
Carnival (NYSE:CCL) last released its earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Carnival had a net margin of 14.88% and a return on equity of 11.78%. Carnival’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 EPS. research analysts expect that Carnival will post 4.24 earnings per share for the current year.
In other Carnival news, CEO Arnold W. Donald sold 90,903 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $67.41, for a total value of $6,127,771.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arnold W. Donald sold 5,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $65.43, for a total transaction of $327,150.00. Following the completion of the sale, the chief executive officer now directly owns 115,572 shares of the company’s stock, valued at $7,561,875.96. The disclosure for this sale can be found here. Insiders have sold a total of 354,545 shares of company stock worth $23,694,789 over the last quarter. 23.80% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Carnival by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 28,919,554 shares of the company’s stock worth $1,896,255,000 after purchasing an additional 934,311 shares during the period. BlackRock Inc. lifted its position in shares of Carnival by 2.0% in the 2nd quarter. BlackRock Inc. now owns 28,469,248 shares of the company’s stock worth $1,866,728,000 after purchasing an additional 550,116 shares during the period. Investec Asset Management LTD lifted its position in shares of Carnival by 6.5% in the 2nd quarter. Investec Asset Management LTD now owns 4,961,591 shares of the company’s stock worth $325,332,000 after purchasing an additional 303,161 shares during the period. Alliancebernstein L.P. lifted its position in shares of Carnival by 316.9% in the 2nd quarter. Alliancebernstein L.P. now owns 4,236,266 shares of the company’s stock worth $277,772,000 after purchasing an additional 3,220,191 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Carnival by 14.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,525,084 shares of the company’s stock worth $227,614,000 after purchasing an additional 436,941 shares during the period. 75.91% of the stock is owned by institutional investors.
Carnival Company Profile
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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