Carnival (NYSE:CCL) was upgraded by stock analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday, The Fly reports.

A number of other research firms have also recently weighed in on CCL. UBS reiterated a “buy” rating and set a $76.00 price target (up from $67.00) on shares of Carnival in a report on Thursday, August 17th. Deutsche Bank reiterated a “hold” rating and set a $61.00 price target (down from $62.00) on shares of Carnival in a report on Wednesday, September 27th. Zacks Investment Research cut Carnival from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Argus reiterated a “neutral” rating and set a $67.00 price target (down from $78.00) on shares of Carnival in a report on Thursday, September 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $79.00 target price (up from $74.00) on shares of Carnival in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $67.71.

Shares of Carnival (NYSE CCL) opened at $65.94 on Wednesday. Carnival has a 52 week low of $50.77 and a 52 week high of $69.89. The stock has a market capitalization of $36,034.97, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.20 and a beta of 0.73. The company has a quick ratio of 0.16, a current ratio of 0.21 and a debt-to-equity ratio of 0.32.

Carnival (NYSE:CCL) last released its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.09. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Carnival had a return on equity of 12.15% and a net margin of 15.53%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.92 EPS. sell-side analysts anticipate that Carnival will post 3.7 earnings per share for the current fiscal year.

In other news, CEO Arnold W. Donald sold 5,000 shares of Carnival stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $65.43, for a total value of $327,150.00. Following the completion of the transaction, the chief executive officer now owns 115,572 shares in the company, valued at approximately $7,561,875.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 100,903 shares of company stock valued at $6,782,771 in the last quarter. Company insiders own 23.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. AXA raised its position in shares of Carnival by 8.2% during the 3rd quarter. AXA now owns 183,604 shares of the company’s stock worth $11,855,000 after acquiring an additional 13,838 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Carnival by 40.8% during the 3rd quarter. GSA Capital Partners LLP now owns 7,504 shares of the company’s stock worth $485,000 after acquiring an additional 2,173 shares in the last quarter. IFM Investors Pty Ltd acquired a new stake in shares of Carnival during the 3rd quarter worth about $640,000. Yellowstone Partners LLC acquired a new stake in shares of Carnival during the 3rd quarter worth about $751,000. Finally, Afam Capital Inc. raised its position in shares of Carnival by 6.2% during the 3rd quarter. Afam Capital Inc. now owns 22,680 shares of the company’s stock worth $1,464,000 after acquiring an additional 1,334 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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Carnival 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 (NYSE:CCL)

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