Carnival Corporation (NYSE:CCL) was downgraded by equities researchers at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday, The Fly reports.

A number of other equities research analysts have also issued reports on CCL. Zacks Investment Research lowered shares of Carnival Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 8th. Stifel Nicolaus restated a “buy” rating and issued a $68.00 price objective on shares of Carnival Corporation in a report on Friday, June 16th. UBS AG restated a “buy” rating and issued a $76.00 price objective (up from $67.00) on shares of Carnival Corporation in a report on Thursday, August 17th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating on shares of Carnival Corporation in a report on Tuesday, August 15th. Finally, BidaskClub lowered shares of Carnival Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Carnival Corporation has an average rating of “Buy” and an average target price of $63.27.

Carnival Corporation (NYSE CCL) opened at 68.74 on Friday. The company has a 50-day moving average of $67.78 and a 200-day moving average of $63.29. The company has a market cap of $49.77 billion, a P/E ratio of 18.18 and a beta of 0.74. Carnival Corporation has a 52 week low of $45.46 and a 52 week high of $69.89.

Carnival Corporation (NYSE:CCL) last released its earnings results on Thursday, June 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. On average, equities research analysts predict that Carnival Corporation will post $3.74 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright and trademark laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/09/15/credit-suisse-group-downgrades-carnival-corporation-ccl-to-neutral.html.

In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the transaction, the insider now directly owns 150,860 shares of the company’s stock, valued at approximately $10,110,637.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of CCL. UBS Asset Management Americas Inc. grew its position in Carnival Corporation by 17.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,891,800 shares of the company’s stock worth $111,446,000 after purchasing an additional 281,960 shares during the last quarter. Commerce Bank grew its position in Carnival Corporation by 87.7% during the 1st quarter. Commerce Bank now owns 9,419 shares of the company’s stock worth $555,000 after purchasing an additional 4,402 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Carnival Corporation by 129.9% in the first quarter. Ameriprise Financial Inc. now owns 3,395,780 shares of the company’s stock valued at $201,341,000 after acquiring an additional 1,918,638 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Carnival Corporation by 56.1% in the first quarter. Toronto Dominion Bank now owns 112,036 shares of the company’s stock valued at $6,599,000 after acquiring an additional 40,257 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Carnival Corporation by 30.8% in the first quarter. Parametric Portfolio Associates LLC now owns 815,069 shares of the company’s stock valued at $48,016,000 after acquiring an additional 191,759 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Carnival Corporation Company Profile

Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.

The Fly

Analyst Recommendations for Carnival Corporation (NYSE:CCL)

Receive News & Ratings for Carnival Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival Corporation and related companies with MarketBeat.com's FREE daily email newsletter.