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.
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