Recent Investment Analysts’ Ratings Changes for Carnival Corp. (CCL)
A number of firms have modified their ratings and price targets on shares of Carnival Corp. (NYSE: CCL) recently:
- 10/4/2016 – Carnival Corp. is now covered by analysts at Macquarie. They set a “neutral” rating and a $55.00 price target on the stock.
- 10/3/2016 – Carnival Corp. is now covered by analysts at HSBC. They set a “buy” rating and a $60.00 price target on the stock.
- 9/29/2016 – Carnival Corp. is now covered by analysts at Deutsche Bank AG. They set a “hold” rating and a $48.00 price target on the stock.
- 9/28/2016 – Carnival Corp. had its “buy” rating reaffirmed by analysts at Wells Fargo & Co..
- 9/27/2016 – Carnival Corp. had its price target lowered by analysts at Nomura from $62.00 to $59.00. They now have a “buy” rating on the stock.
- 9/27/2016 – Carnival Corp. had its price target raised by analysts at Buckingham Research from $53.00 to $55.00. They now have a “buy” rating on the stock.
- 9/27/2016 – Carnival Corp. had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $54.00 price target on the stock.
- 9/27/2016 – Carnival Corp. had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $60.00 price target on the stock.
- 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.
Shares of Carnival Corp. (NYSE:CCL) opened at 46.70 on Thursday. Carnival Corp. has a 1-year low of $40.52 and a 1-year high of $55.77. The company has a 50 day moving average price of $47.05 and a 200-day moving average price of $47.76. The stock has a market capitalization of $34.09 billion, a P/E ratio of 14.52 and a beta of 0.80.
Carnival Corp. (NYSE:CCL) last released its earnings results on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. Carnival Corp. had a return on equity of 10.76% and a net margin of 15.10%. The business had revenue of $5.10 billion for the quarter. During the same period last year, the business earned $1.75 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts forecast that Carnival Corp. will post $8.23 EPS for the current fiscal year.
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The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Wednesday, August 24th. Carnival Corp.’s payout ratio is 42.94%.
In other Carnival Corp. news, CFO David Bernstein sold 4,030 shares of Carnival Corp. stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $49.18, for a total transaction of $198,195.40. Following the sale, the chief financial officer now directly owns 47,256 shares of the company’s stock, valued at $2,324,050.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 22.00% of the company’s stock.
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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