Morningstar Assigns “BBB” Credit Rating to Carnival (CCL)
Carnival (NYSE:CCL) has been given a “BBB” credit rating by analysts at Morningstar. The credit rating agency’s “BBB” rating suggests that the company is a moderate default risk. They also issued a neutral credit outlook for the company and gave their stock a three star rating.
A number of other analysts have also recently weighed in on CCL. Analysts at TheStreet upgraded shares of Carnival to a “buy” rating in a research note on Wednesday, August 20th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Carnival in a research note on Monday, August 11th. They now have a $38.00 price target on the stock. Finally, analysts at Bank of America upgraded shares of Carnival from a “neutral” rating to a “buy” rating in a research note on Thursday, August 7th. 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Carnival has an average rating of “Buy” and an average target price of $40.38.
Carnival (NYSE:CCL) opened at 38.21 on Thursday. 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 $37.01 and a 200-day moving average of $38.2. The company has a market cap of $29.689 billion and a price-to-earnings ratio of 26.97.
Carnival (NYSE:CCL) last posted its quarterly earnings results 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 $1.75 EPS for the current fiscal year.
Carnival Corporation is a cruise company. The Company operates in two segments: North America and Europe, Australia & Asia (NYSE:CCL).
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