Carnival (CCL) Upgraded to Outperform by Credit Suisse Group

Credit Suisse Group upgraded shares of Carnival (NYSE:CCL) from a neutral rating to an outperform rating in a research report released on Tuesday. Credit Suisse Group currently has $70.00 price target on the stock, up from their prior price target of $66.05.

Several other analysts have also recently commented on CCL. Instinet reissued a buy rating and issued a $75.00 price target on shares of Carnival in a report on Monday, October 2nd. Nomura reissued a buy rating and issued a $75.00 price target on shares of Carnival in a report on Friday, September 29th. Argus reissued a neutral rating and issued a $67.00 price target (down from $78.00) on shares of Carnival in a report on Thursday, September 28th. Stifel Nicolaus reissued a buy rating and issued a $79.00 price target (up from $74.00) on shares of Carnival in a report on Wednesday, September 27th. Finally, ValuEngine raised Carnival from a hold rating to a buy rating in a report on Sunday, December 31st. Seven investment 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’s stock. Carnival presently has a consensus rating of Buy and a consensus target price of $72.78.

Carnival (NYSE:CCL) traded up $0.89 during trading on Tuesday, reaching $69.69. The company’s stock had a trading volume of 3,243,963 shares, compared to its average volume of 3,170,000. Carnival has a 52 week low of $52.65 and a 52 week high of $69.89. The company has a quick ratio of 0.14, a current ratio of 0.18 and a debt-to-equity ratio of 0.29. The firm has a market cap of $49,900.00, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.17 and a beta of 0.73.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, November 22nd. This is a boost from Carnival’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.58%. Carnival’s payout ratio is currently 44.57%.

In related news, CEO Arnold W. Donald sold 6,000 shares of Carnival stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $68.00, for a total transaction of $408,000.00. Following the completion of the transaction, the chief executive officer now directly owns 115,572 shares of the company’s stock, valued at $7,858,896. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Arnold W. Donald sold 5,000 shares of Carnival stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $65.43, for a total value of $327,150.00. Following the transaction, 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. Over the last ninety days, insiders have sold 354,545 shares of company stock valued at $23,694,789. 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. Pathstone Family Office LLC increased its position in Carnival by 200.0% during the second quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock worth $2,493,000 after buying an additional 38 shares in the last quarter. YorkBridge Wealth Partners LLC increased its position in Carnival by 1.4% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock worth $191,000 after buying an additional 40 shares in the last quarter. Security National Bank of Sioux City Iowa IA increased its position in Carnival by 0.5% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,390 shares of the company’s stock worth $878,000 after buying an additional 65 shares in the last quarter. Scotia Capital Inc. increased its position in Carnival by 0.4% during the second quarter. Scotia Capital Inc. now owns 16,604 shares of the company’s stock worth $1,089,000 after buying an additional 71 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Carnival by 0.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,096 shares of the company’s stock worth $1,055,000 after buying an additional 93 shares in the last quarter. 75.91% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Carnival (NYSE:CCL)

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