ValuEngine Upgrades Carnival (CCL) to Buy
ValuEngine upgraded shares of Carnival (NYSE:CCL) from a hold rating to a buy rating in a report released on Sunday morning.
Several other research firms have also weighed in on CCL. Buckingham Research restated a buy rating and set a $84.00 price target (up from $80.00) on shares of Carnival in a research report on Wednesday, December 20th. Deutsche Bank reiterated a hold rating and set a $61.00 price objective (down previously from $62.00) on shares of Carnival in a research note on Wednesday, September 27th. Argus reiterated a neutral rating and set a $67.00 price objective (down previously from $78.00) on shares of Carnival in a research note on Thursday, September 28th. Morgan Stanley upgraded Carnival from an underweight rating to an equal weight rating and lifted their price objective for the company from $65.94 to $68.00 in a research note on Wednesday, December 6th. Finally, Tigress Financial reiterated a buy rating on shares of Carnival in a research note on Friday, December 22nd. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Carnival has a consensus rating of Buy and an average target price of $72.89.
Shares of Carnival (NYSE:CCL) opened at $66.90 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.14 and a current ratio of 0.18. Carnival has a 1 year low of $52.24 and a 1 year high of $69.89. The firm has a market capitalization of $47,930.00, a P/E ratio of 18.64, a P/E/G ratio of 1.18 and a beta of 0.73.
Carnival (NYSE:CCL) last released its quarterly earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.12. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the company posted $0.67 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. research analysts predict that Carnival will post 4.25 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Wednesday, November 22nd. This is a boost from Carnival’s previous quarterly dividend of $0.40. Carnival’s dividend payout ratio is 44.57%.
In other Carnival news, CEO Arnold W. Donald sold 6,000 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $68.00, for a total transaction of $408,000.00. Following the completion of the sale, the chief executive officer now owns 115,572 shares of the company’s stock, valued at $7,858,896. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arnold W. Donald sold 90,903 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $67.41, for a total value of $6,127,771.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 335,545 shares of company stock valued at $22,424,789. 23.80% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in CCL. Blair William & Co. IL boosted its stake in shares of Carnival by 32.8% in the second quarter. Blair William & Co. IL now owns 5,598 shares of the company’s stock worth $367,000 after acquiring an additional 1,384 shares during the period. Federated Investors Inc. PA boosted its stake in shares of Carnival by 49.4% in the second quarter. Federated Investors Inc. PA now owns 8,169 shares of the company’s stock worth $536,000 after acquiring an additional 2,700 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Carnival by 14.7% in the second quarter. Victory Capital Management Inc. now owns 34,549 shares of the company’s stock worth $2,265,000 after acquiring an additional 4,422 shares during the period. Pacer Advisors Inc. bought a new position in shares of Carnival in the second quarter worth about $618,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Carnival by 11.9% in the second quarter. Principal Financial Group Inc. now owns 660,397 shares of the company’s stock worth $43,302,000 after acquiring an additional 70,430 shares during the period. 75.90% of the stock is 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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