Carnival Upgraded to Buy by Bank of America (CCL)
Carnival (NYSE:CCL) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $45.50 price target on the stock, up from their previous price target of $42.90. Bank of America’s price target suggests a potential upside of 25.55% from the company’s current price. The analysts noted that the move was a valuation call.
Shares of Carnival (NYSE:CCL) traded up 2.26% during mid-day trading on Thursday, hitting $37.06. The stock had a trading volume of 1,176,112 shares. Carnival has a 52 week low of $31.44 and a 52 week high of $41.89. The stock’s 50-day moving average is $37.18 and its 200-day moving average is $38.59. The company has a market cap of $28.796 billion and a P/E ratio of 25.76.
Carnival (NYSE:CCL) last issued its quarterly earnings data on Tuesday, June 24th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts expect that Carnival will post $1.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Wednesday, August 20th.
CCL has been the subject of a number of other recent research reports. Analysts at TheStreet upgraded shares of Carnival from a “hold” rating to a “buy” rating in a research note on Thursday, June 26th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Carnival in a research note on Wednesday, June 25th. They now have a $40.00 price target on the stock. Finally, analysts at Telsey Advisory Group reiterated a “” rating on shares of Carnival in a research note on Wednesday, June 25th. They now have a $42.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $40.54.
Carnival Corporation is a cruise company. The Company operates in two segments: North America and Europe, Australia & Asia (NYSE:CCL).
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