Carnival Given Neutral Rating at Zacks (CCL)
Carnival (NYSE:CCL)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Monday. They currently have a $38.00 price objective on the stock. Zacks‘s price objective indicates a potential upside of 4.25% from the stock’s previous close.
Zacks’ analyst wrote, “Carnival Corp. posted better-than-expected second-quarter fiscal 2014 results with earnings of $0.10 per share easily beating the Zacks Consensus Estimate of $0.02 and increasing 43% year over year, thanks to higher revenues, better-than-expected revenue yields as well as lower-than-anticipated cruise costs. Revenues also surpassed the consensus mark by 1.4% Additionally reduction in fuel consumption is a bright spot in Carnival’s report card. Moreover, the brand-building efforts and other promotional activities are expected to bode well for the company. Also, the company’s strategy to grow beyond familiar itineraries and capitalize on Asian opportunities requires special mention. However, higher marketing spend remains a major threat to margin expansion. Meanwhile, the company expects revenue yield to slightly decline in fiscal 2014 on yearly basis, which remains a concern. We therefore have a Neutral recommendation on the stock.”
Shares of Carnival (NYSE:CCL) traded up 1.00% during mid-day trading on Monday, hitting $36.815. 1,433,031 shares of the company’s stock traded hands. Carnival 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 $37.06 and a 200-day moving average of $38.56. The company has a market cap of $28.605 billion and a P/E ratio of 25.91.
Carnival (NYSE:CCL) last released its 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. On average, analysts predict that Carnival will post $1.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders 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 2.74%. The ex-dividend date is Wednesday, August 20th.
A number of other firms have also recently commented on CCL. Analysts at Bank of America upgraded shares of Carnival from a “neutral” rating to a “buy” rating in a research note on Thursday. They now have a $45.50 price target on the stock, up previously from $42.90. They noted that the move was a valuation call. Separately, analysts at TheStreet upgraded shares of Carnival from a “hold” rating to a “buy” rating in a research note on Thursday, June 26th. 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 research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Carnival presently has an average rating of “Buy” and an average price target of $40.38.
Carnival Corporation is a cruise company. The Company operates in two segments: North America and Europe, Australia & Asia (NYSE:CCL).
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