Carnival Corp (CCL) Given Consensus Rating of “Buy” by Analysts

Carnival Corp (NYSE:CCL) has received a consensus rating of “Buy” from the twenty-four analysts that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $74.65.

Several equities research analysts have issued reports on CCL shares. Zacks Investment Research cut shares of Carnival from a “hold” rating to a “sell” rating in a research report on Tuesday, November 28th. Morgan Stanley raised shares of Carnival from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $65.94 to $68.00 in a research report on Wednesday, December 6th. Credit Suisse Group set a $72.00 price objective on shares of Carnival and gave the company a “hold” rating in a research report on Tuesday, December 12th. SunTrust Banks reissued a “buy” rating and issued a $84.00 price objective (up from $72.00) on shares of Carnival in a research report on Tuesday, December 19th. They noted that the move was a valuation call. Finally, Stifel Nicolaus boosted their price objective on shares of Carnival from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th.

In other news, CFO David Bernstein sold 2,600 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $69.59, for a total value of $180,934.00. Following the completion of the sale, the chief financial officer now owns 34,620 shares of the company’s stock, valued at approximately $2,409,205.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Arnaldo Perez sold 15,166 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total transaction of $1,009,903.94. The disclosure for this sale can be found here. Insiders sold a total of 313,627 shares of company stock valued at $21,059,647 in the last ninety days. Corporate insiders own 23.80% of the company’s stock.

Large investors have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC purchased a new stake in Carnival during the fourth quarter valued at approximately $123,000. Grove Bank & Trust lifted its position in Carnival by 367.8% during the third quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after acquiring an additional 1,600 shares during the last quarter. Smithfield Trust Co. lifted its position in Carnival by 826.2% during the third quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock valued at $182,000 after acquiring an additional 2,520 shares during the last quarter. Nine Chapters Capital Management LLC purchased a new stake in Carnival during the third quarter valued at approximately $200,000. Finally, First Allied Advisory Services Inc. purchased a new stake in Carnival during the fourth quarter valued at approximately $215,000. 75.65% of the stock is owned by institutional investors.

Shares of Carnival (NYSE:CCL) opened at $66.76 on Friday. The stock has a market cap of $36,921.94, a PE ratio of 18.60, a price-to-earnings-growth ratio of 1.16 and a beta of 0.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.18 and a quick ratio of 0.14. Carnival has a 52-week low of $54.75 and a 52-week high of $72.70.

Carnival (NYSE:CCL) last released its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.12. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 EPS. equities research analysts anticipate that Carnival will post 4.27 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 23rd will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.80 annualized dividend and a dividend yield of 2.70%. Carnival’s payout ratio is presently 32.03%.

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About Carnival

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.

Analyst Recommendations for Carnival (NYSE:CCL)

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