Carnival (NYSE:CCL) was upgraded by equities research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, Marketbeat reports. The firm presently has a $65.00 price target on the stock, up from their prior price target of $63.00. Goldman Sachs Group’s price target points to a potential upside of 15.19% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. ValuEngine raised shares of Carnival from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Cleveland Research raised shares of Carnival from a “neutral” rating to a “buy” rating in a research report on Monday, December 17th. Wolfe Research set a $73.00 price objective on shares of Carnival and gave the company a “buy” rating in a research report on Tuesday, December 11th. Deutsche Bank cut their price objective on shares of Carnival to $60.00 and set a “hold” rating on the stock in a research report on Friday, December 21st. Finally, Macquarie raised shares of Carnival from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $58.00 to $66.00 in a research report on Friday, January 25th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. Carnival presently has a consensus rating of “Buy” and an average target price of $69.70.

Shares of NYSE CCL opened at $56.43 on Wednesday. The firm has a market cap of $29.56 billion, a PE ratio of 13.25, a PEG ratio of 0.87 and a beta of 1.26. Carnival has a twelve month low of $45.64 and a twelve month high of $69.11. The company has a current ratio of 0.24, a quick ratio of 0.19 and a debt-to-equity ratio of 0.32.

Carnival (NYSE:CCL) last announced its quarterly earnings results on Thursday, December 20th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Carnival had a net margin of 16.70% and a return on equity of 12.44%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. As a group, equities analysts anticipate that Carnival will post 4.74 earnings per share for the current fiscal year.

In other Carnival news, CEO Stein Kruse sold 32,163 shares of Carnival stock in a transaction on Friday, February 15th. The shares were sold at an average price of $57.08, for a total value of $1,835,864.04. Following the sale, the chief executive officer now directly owns 92,198 shares in the company, valued at approximately $5,262,661.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arnold W. Donald purchased 21,595 shares of the stock in a transaction on Wednesday, December 26th. The stock was acquired at an average price of $46.43 per share, for a total transaction of $1,002,655.85. The disclosure for this purchase can be found here. Insiders sold a total of 71,792 shares of company stock worth $4,053,366 over the last ninety days. 24.10% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. First Merchants Corp increased its stake in Carnival by 6.3% in the 4th quarter. First Merchants Corp now owns 35,110 shares of the company’s stock valued at $1,731,000 after buying an additional 2,072 shares during the last quarter. Chartwell Investment Partners LLC increased its stake in Carnival by 10.0% in the 4th quarter. Chartwell Investment Partners LLC now owns 246,448 shares of the company’s stock valued at $12,150,000 after buying an additional 22,373 shares during the last quarter. Raymond James Trust N.A. increased its stake in Carnival by 6.0% in the 3rd quarter. Raymond James Trust N.A. now owns 48,111 shares of the company’s stock valued at $3,068,000 after buying an additional 2,724 shares during the last quarter. MA Private Wealth acquired a new stake in Carnival in the 4th quarter valued at $308,000. Finally, CWM LLC increased its stake in Carnival by 44.4% in the 4th quarter. CWM LLC now owns 1,435 shares of the company’s stock valued at $71,000 after buying an additional 441 shares during the last quarter. Hedge funds and other institutional investors own 75.85% of the company’s stock.

About Carnival

Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.

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Analyst Recommendations for Carnival (NYSE:CCL)

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