Carnival Corp. Stock Rating Reaffirmed by Zacks (CCL)
Carnival Corp. (NYSE:CCL)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Monday, ARN reports. They currently have a $34.00 target price on the stock. Zacks‘ target price would suggest a potential upside of 4.84% from the company’s current price.
Zacks‘ analyst wrote, “Carnival’s third-quarter fiscal 2013 adjusted earnings of $1.38 per share beat the Zacks Consensus Estimate by 6.2% but were 9.8% lower than the year-ago quarter earnings due to margin shortfall. Total revenue in the quarter inched up 0.9%, beating the Zacks Consensus Estimate by 1.9%. Penetration into the high-potential Asian and Australian markets, several marketing initiatives to fix operational issues and reduction in fuel consumption position it well for the long term. However, an overall muted guidance for revenue yield, cruise costs and earnings for fiscal 2013 is a concern. A sluggish European economy and lower consumer confidence in both North America and Europe threaten bookings. Moreover, higher operating costs owing to increased marketing spend remain a major threat to margin expansion. System-wide operating scenario is not expected to improve before the second half of 2014. Thus, we maintain our Neutral recommendation on the stock.”
Carnival Corp. (NYSE:CCL) traded down 0.55% on Monday, hitting $32.252. The stock had a trading volume of 1,699,431 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 $35.75 and a 200-day moving average of $34.92. The company has a market cap of $24.995 billion and a price-to-earnings ratio of 22.85.
Carnival Corp. (NYSE:CCL) last issued its quarterly earnings data 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 in the previous year, the company posted $1.53 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts predict that Carnival Corp. will post $1.55 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CCL. Analysts at SunTrust initiated coverage on shares of Carnival Corp. in a research note to investors on Friday. They set a “reduce” rating and a $26.00 price target on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Carnival Corp. to $31.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Finally, analysts at HSBC cut their price target on shares of Carnival Corp. from $37.50 to $33.00 in a research note to investors on Tuesday, October 1st. They now have a “neutral” rating on the stock. Five 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 stock. The stock currently has a consensus rating of “Hold” and an average target price of $157.03.
Carnival Corporation is a cruise company. The Company operates in two segments: North America and Europe, Australia & Asia (NYSE:CCL).
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