Carnival Corp. (CCL) – Investment Analysts’ Recent Ratings Changes
Several brokerages have updated their recommendations and price targets on shares of Carnival Corp. (NYSE: CCL) in the last few weeks:
- 9/21/2016 – Carnival Corp. was given a new $53.40 price target on by analysts at Bank of America Corp.. They now have a “buy” rating on the stock.
- 9/12/2016 – Carnival Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Carnival is well positioned as a global leader in the cruise industry backed by solid prospects. The company’s brand building efforts along with other promotional activities are driving bookings. Meanwhile, its strategy to tap into the fast growing Asian market and commencing of sailing to Cuba bode particularly well. Additionally, improved consumer spending power, new onboard product offerings coupled with various strategic initiatives are expected to drive onboard yield gains. Notably, estimates have been mostly stable lately ahead of Carnival’s third-quarter 2016 earnings release. Meanwhile, the company has positive record of earnings surprises in recent quarters. However, negative currency translation and macroeconomic issues and increased marketing expenses remain potent headwinds. Nonetheless, efforts to lower fuel consumption and costs should drive earnings as fuel is a major component for cruise companies.”
- 9/8/2016 – Carnival Corp. is now covered by analysts at Sanford C. Bernstein. They set a “market perform” rating and a $51.00 price target on the stock.
- 9/2/2016 – Carnival Corp. was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating. They now have a $48.00 price target on the stock, down previously from $54.00.
- 7/24/2016 – Carnival Corp. had its “overweight” rating reaffirmed by analysts at Morgan Stanley.
Carnival Corp. (NYSE:CCL) opened at 45.82 on Thursday. The stock has a market cap of $34.14 billion, a PE ratio of 15.79 and a beta of 0.84. The company’s 50 day moving average is $46.36 and its 200 day moving average is $47.77. Carnival Corp. has a one year low of $40.52 and a one year high of $55.77.
Carnival Corp. (NYSE:CCL) last posted its quarterly earnings results on Tuesday, June 28th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.39 by $0.10. Carnival Corp. had a net margin of 14.00% and a return on equity of 10.37%. The company earned $3.70 billion during the quarter. During the same quarter last year, the firm earned $0.25 EPS. The company’s revenue was up 3.2% on a year-over-year basis. On average, equities research analysts expect that Carnival Corp. will post $8.11 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 26th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.06%. The ex-dividend date was Wednesday, August 24th. Carnival Corp.’s dividend payout ratio (DPR) is presently 48.44%.
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
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