Carnival Corp (CCL) Upgraded to “Outperform” by William Blair
Carnival Corp (NYSE:CCL) was upgraded by investment analysts at William Blair from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, The Fly reports.
Several other research firms have also commented on CCL. Zacks Investment Research upgraded shares of Carnival Corp from a “sell” rating to a “hold” rating in a research report on Monday. Argus upgraded shares of Carnival Corp from a “hold” rating to a “buy” rating and upped their price target for the stock from $56.03 to $64.00 in a research report on Monday, February 27th. Wedbush restated a “neutral” rating and set a $54.00 price target on shares of Carnival Corp in a research report on Tuesday, January 10th. Barclays PLC restated an “equal weight” rating and set a $56.00 price target on shares of Carnival Corp in a research report on Wednesday, December 21st. Finally, Credit Suisse Group AG restated an “outperform” rating and set a $59.00 price target on shares of Carnival Corp in a research report on Wednesday, December 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $55.62.
Carnival Corp (NYSE:CCL) traded up 0.21% during trading on Monday, reaching $57.76. 1,937,734 shares of the company’s stock traded hands. The company has a 50-day moving average of $56.12 and a 200 day moving average of $51.50. The stock has a market capitalization of $41.93 billion, a P/E ratio of 15.53 and a beta of 0.73. Carnival Corp has a 12 month low of $42.94 and a 12 month high of $57.96.
Carnival Corp (NYSE:CCL) last released its quarterly earnings results on Tuesday, December 20th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.58 by $0.09. The business earned $3.90 billion during the quarter, compared to analyst estimates of $3.90 billion. Carnival Corp had a net margin of 16.96% and a return on equity of 11.35%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 earnings per share. On average, equities research analysts expect that Carnival Corp will post $3.58 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Friday, February 24th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Wednesday, February 22nd. Carnival Corp’s payout ratio is 37.43%.
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In other Carnival Corp news, General Counsel Arnaldo Perez sold 15,165 shares of the company’s stock in a transaction dated Thursday, December 29th. The shares were sold at an average price of $52.11, for a total value of $790,248.15. Following the completion of the sale, the general counsel now directly owns 88,789 shares of the company’s stock, valued at approximately $4,626,794.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alan Buckelew sold 9,273 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $52.95, for a total transaction of $491,005.35. Following the completion of the sale, the insider now directly owns 195,128 shares of the company’s stock, valued at $10,332,027.60. The disclosure for this sale can be found here. Insiders sold a total of 241,297 shares of company stock valued at $13,007,082 over the last three months. 22.00% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of CCL. Rowland & Co. Investment Counsel ADV increased its stake in shares of Carnival Corp by 0.4% in the third quarter. Rowland & Co. Investment Counsel ADV now owns 2,315 shares of the company’s stock worth $113,000 after buying an additional 9 shares during the last quarter. Independent Advisor Alliance acquired a new stake in shares of Carnival Corp during the fourth quarter worth $128,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Carnival Corp during the fourth quarter worth $131,000. NCM Capital Management Group Inc. increased its stake in shares of Carnival Corp by 9.9% in the third quarter. NCM Capital Management Group Inc. now owns 2,775 shares of the company’s stock worth $135,000 after buying an additional 250 shares during the last quarter. Finally, SRB Corp increased its stake in shares of Carnival Corp by 17.7% in the third quarter. SRB Corp now owns 3,325 shares of the company’s stock worth $162,000 after buying an additional 500 shares during the last quarter. 79.45% of the stock is owned by institutional investors.
Carnival Corp 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.
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