Barclays upgraded shares of Carnival (NYSE:CCL) from an equal weight rating to an overweight rating in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The firm currently has $77.00 price target on the stock.
A number of other equities research analysts also recently issued reports on CCL. Morgan Stanley increased their target price on shares of Carnival from $68.00 to $70.00 and gave the stock an equal weight rating in a research report on Friday, February 2nd. Stifel Nicolaus increased their target price on shares of Carnival from $80.00 to $81.00 and gave the stock a buy rating in a research report on Monday, March 19th. ValuEngine upgraded shares of Carnival from a hold rating to a buy rating in a research report on Friday, February 2nd. Deutsche Bank increased their target price on shares of Carnival to $70.00 and gave the stock a hold rating in a research report on Wednesday, December 20th. Finally, Buckingham Research reiterated a buy rating and issued a $84.00 target price (up previously from $80.00) on shares of Carnival in a research report on Wednesday, December 20th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $74.33.
Carnival (CCL) traded down $1.79 during mid-day trading on Friday, reaching $64.41. 5,608,124 shares of the company’s stock were exchanged, compared to its average volume of 3,085,133. Carnival has a 12 month low of $57.39 and a 12 month high of $72.70. The company has a current ratio of 0.18, a quick ratio of 0.14 and a debt-to-equity ratio of 0.29. The stock has a market cap of $35,362.16, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.09 and a beta of 0.80.
Carnival (NYSE:CCL) last released its earnings results on Thursday, March 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Carnival had a net margin of 14.73% and a return on equity of 12.04%. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. analysts expect that Carnival will post 4.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, February 23rd were paid a $0.45 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.79%. Carnival’s payout ratio is presently 21.92%.
In related news, CEO Arnold W. Donald sold 8,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $71.66, for a total value of $573,280.00. Following the transaction, the chief executive officer now directly owns 102,150 shares in the company, valued at approximately $7,320,069. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arnold W. Donald sold 3,000 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $68.00, for a total transaction of $204,000.00. Following the completion of the transaction, the chief executive officer now owns 132,376 shares in the company, valued at $9,001,568. The disclosure for this sale can be found here. Insiders sold a total of 333,364 shares of company stock worth $22,422,561 over the last quarter. 23.80% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of CCL. BlackRock Inc. grew its stake in Carnival by 8.8% in the 4th quarter. BlackRock Inc. now owns 29,804,490 shares of the company’s stock valued at $1,978,124,000 after buying an additional 2,421,339 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Carnival in the 4th quarter valued at $101,712,000. Capital Growth Management LP acquired a new position in Carnival in the 3rd quarter valued at $65,539,000. Deutsche Bank AG grew its position in Carnival by 95.2% in the 4th quarter. Deutsche Bank AG now owns 1,846,447 shares of the company’s stock worth $122,543,000 after purchasing an additional 900,472 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in Carnival by 48.7% in the 4th quarter. Two Sigma Advisers LP now owns 2,569,310 shares of the company’s stock worth $170,525,000 after purchasing an additional 841,421 shares during the last quarter. Institutional investors and hedge funds own 76.72% of the company’s stock.
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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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