Carnival Corp. Downgraded to “Neutral” at Merrill Lynch (CCL)
Carnival Corp. (NYSE:CCL) was downgraded by research analysts at Merrill Lynch from a “buy” rating to a “neutral” rating in a report released on Wednesday, StockRatingsNetwork.com reports.
Carnival Corp. (NYSE:CCL) traded down 5.33% during mid-day trading on Wednesday, hitting $32.70. The stock had a trading volume of 23,729,596 shares. Carnival Corp. has a 52-week low of $32.06 and a 52-week high of $39.95. The stock has a 50-day moving average of $36.59 and a 200-day moving average of $35.05. The company has a market cap of $25.343 billion and a price-to-earnings ratio of 17.89. Carnival Corp. also saw some unusual options trading on Tuesday. Traders purchased 10,086 put options on the company. This represents an increase of approximately 660% compared to the typical volume of 1,327 put options.
Carnival Corp. (NYSE:CCL) last announced its earnings results on Tuesday, September 24th. The company reported $1.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.30 by $0.08. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter last year, the company posted $1.53 earnings per share. Carnival Corp.’s revenue was up .9% compared to the same quarter last year. On average, analysts predict that Carnival Corp. will post $1.55 earnings per share for the current fiscal year.
A number of other firms have also recently commented on CCL. Analysts at JPMorgan Chase & Co. cut their price target on shares of Carnival Corp. (NYSE:CCL) from $34.00 to $32.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Carnival Corp. (NYSE:CCL) in a research note to investors on Wednesday. They now have a $36.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Carnival Corp. (NYSE:CCL) in a research note to investors on Wednesday. They now have a $39.00 price target on the stock, down previously from $40.00.
Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $164.83.
Carnival Corporation is a cruise company. The Company operates in two segments: North America and Europe, Australia & Asia (NYSE:CCL).
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