Nomura Lowers Carnival Corp. Price Target to $32.00 (CCL)
Investment analysts at Nomura dropped their price target on shares of Carnival Corp. (NYSE:CCL) from $36.00 to $32.00 in a note issued to investors on Wednesday, American Banking News reports. The firm currently has a “neutral” rating on the stock. Nomura’s price objective would indicate a potential downside of 7.35% from the stock’s previous close.
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 one year low of $32.06 and a one year high of $39.95. The stock’s 50-day moving average is $36.59 and its 200-day moving average is $35.05. The company has a market cap of $25.343 billion and a P/E ratio of 17.89. Carnival Corp. also was the target of some unusual options trading activity on Tuesday. Investors bought 10,086 put options on the company. This represents an increase of approximately 660% compared to the average volume of 1,327 put options.
Carnival Corp. (NYSE:CCL) last posted its quarterly earnings results on Tuesday, September 24th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the 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. Analysts expect that Carnival Corp. will post $1.55 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Merrill Lynch downgraded shares of Carnival Corp. (NYSE:CCL) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. Separately, 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. Finally, 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.
Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average 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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