Carnival (NYSE:CCL) Receives Buy Rating from SunTrust Banks

Carnival (NYSE:CCL)‘s stock had its “buy” rating reaffirmed by analysts at SunTrust Banks in a report issued on Tuesday, December 19th, The Fly reports. They presently have a $84.00 price objective on the stock, up from their prior price objective of $72.00. SunTrust Banks’ price objective points to a potential upside of 20.53% from the company’s current price. SunTrust Banks also issued estimates for Carnival’s Q1 2018 earnings at $0.41 EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $2.63 EPS, Q4 2018 earnings at $0.81 EPS, Q1 2019 earnings at $0.52 EPS, Q2 2019 earnings at $0.52 EPS, Q3 2019 earnings at $2.93 EPS, Q4 2019 earnings at $0.97 EPS and FY2019 earnings at $4.94 EPS. The analysts noted that the move was a valuation call.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Carnival from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Thursday, September 21st. Stifel Nicolaus restated a “buy” rating and set a $79.00 price objective (up previously from $74.00) on shares of Carnival in a research report on Wednesday, September 27th. Nomura restated a “buy” rating and set a $75.00 price objective on shares of Carnival in a research report on Friday, September 29th. Instinet reiterated a “buy” rating and issued a $75.00 price target on shares of Carnival in a research report on Monday, October 2nd. Finally, Morgan Stanley upgraded shares of Carnival from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $65.94 to $68.00 in a research report on Wednesday, December 6th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.78.

Shares of Carnival (NYSE:CCL) traded up $0.89 during midday trading on Tuesday, hitting $69.69. 3,243,963 shares of the company traded hands, 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 debt-to-equity ratio of 0.29, a current ratio of 0.18 and a quick ratio of 0.14. Carnival has a one year low of $52.65 and a one year high of $69.89.

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

In related news, CEO Arnold W. Donald sold 3,000 shares of Carnival stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $68.00, for a total transaction of $204,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Arnaldo Perez sold 15,166 shares of Carnival stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total transaction of $1,009,903.94. 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 90 days. Company insiders own 23.80% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Bristol Advisors LLC raised its holdings in shares of Carnival by 110.8% in the 4th quarter. Bristol Advisors LLC now owns 7,800 shares of the company’s stock valued at $518,000 after purchasing an additional 4,100 shares in the last quarter. Appleton Partners Inc. MA grew its position in shares of Carnival by 7.8% in the 4th quarter. Appleton Partners Inc. MA now owns 70,895 shares of the company’s stock worth $4,705,000 after buying an additional 5,160 shares during the last quarter. First Citizens Bank & Trust Co. grew its position in shares of Carnival by 7.5% in the 4th quarter. First Citizens Bank & Trust Co. now owns 52,159 shares of the company’s stock worth $3,462,000 after buying an additional 3,642 shares during the last quarter. Sit Investment Associates Inc. purchased a new position in shares of Carnival in the 4th quarter worth approximately $14,100,000. Finally, New England Research & Management Inc. grew its position in shares of Carnival by 26.1% in the 4th quarter. New England Research & Management Inc. now owns 30,950 shares of the company’s stock worth $2,054,000 after buying an additional 6,400 shares during the last quarter. Institutional investors and hedge funds own 75.91% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Carnival (NYSE:CCL)

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