Carnival Corp. Downgraded by Jefferies Group to Underperform (CCL)
Carnival Corp. (NYSE:CCL) was downgraded by analysts at Jefferies Group from a “hold” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $33.00 target price on the stock, up from their previous target price of $31.00. Jefferies Group’s target price indicates a potential downside of 18.13% from the stock’s previous close.
Carnival Corp. (NYSE:CCL) traded down 0.06% on Tuesday, hitting $40.285. The stock had a trading volume of 2,759,665 shares. Carnival Corp. has a 52-week low of $31.44 and a 52-week high of $41.89. The stock has a 50-day moving average of $40.05 and a 200-day moving average of $36.64. The company has a market cap of $31.261 billion and a P/E ratio of 29.00.
Carnival Corp. (NYSE:CCL) last announced its earnings results on Thursday, December 19th. The company reported $0.04 earnings per share (EPS) for the quarter. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts predict that Carnival Corp. will post $1.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 14th. Investors of record on Friday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, February 19th.
Other equities research analysts have also recently issued reports about the stock. Analysts at HSBC upgraded shares of Carnival Corp. from a “neutral” rating to an “overweight” rating in a research note on Thursday, February 6th. They now have a $43.50 price target on the stock, up previously from $33.00. Separately, analysts at Numis Securities Ltd upgraded shares of Carnival Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, January 28th. Finally, analysts at SunTrust upgraded shares of Carnival Corp. from a “reduce” rating to a “neutral” rating in a research note on Monday, January 13th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Carnival Corp. presently has a consensus rating of “Hold” and a consensus price target of $173.85.
Carnival Corporation is a cruise company. The Company operates in two segments: North America and Europe, Australia & Asia (NYSE:CCL).
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