Carnival’s (CCL) “Buy” Rating Reiterated at Tigress Financial

Tigress Financial reaffirmed their buy rating on shares of Carnival (NYSE:CCL) in a report issued on Friday morning.

A number of other analysts have also weighed in on CCL. Zacks Investment Research raised shares of Carnival from a hold rating to a buy rating and set a $77.00 price target for the company in a research note on Tuesday, August 29th. Credit Suisse Group lowered shares of Carnival from an outperform rating to a neutral rating and reduced their price target for the stock from $78.00 to $70.00 in a research note on Friday, September 15th. Susquehanna Bancshares upped their price target on shares of Carnival from $75.00 to $76.00 and gave the stock a positive rating in a research note on Monday, September 25th. Stifel Nicolaus reissued a buy rating and set a $79.00 target price (up from $74.00) on shares of Carnival in a research note on Wednesday, September 27th. Finally, Deutsche Bank reissued a hold rating and set a $61.00 target price (down from $62.00) on shares of Carnival in a research note on Wednesday, September 27th. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Carnival has a consensus rating of Buy and an average price target of $72.89.

Shares of Carnival (CCL) opened at $66.35 on Friday. The firm has a market cap of $47,520.00, a P/E ratio of 18.48, a PEG ratio of 1.19 and a beta of 0.73. Carnival has a one year low of $51.70 and a one year high of $69.89. The company has a quick ratio of 0.16, a current ratio of 0.18 and a debt-to-equity ratio of 0.29.

Carnival (NYSE:CCL) last issued its quarterly earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 EPS. research analysts anticipate that Carnival will post 4.22 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, November 22nd. This is a positive change from Carnival’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.71%. Carnival’s dividend payout ratio is currently 44.57%.

In other news, CEO Arnold W. Donald sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $68.00, for a total transaction of $408,000.00. Following the sale, the chief executive officer now owns 115,572 shares in the company, valued at $7,858,896. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arnold W. Donald sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $65.43, for a total transaction of $327,150.00. Following the sale, the chief executive officer now owns 115,572 shares in the company, valued at approximately $7,561,875.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,903 shares of company stock valued at $7,190,771. Company insiders own 23.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CCL. Bessemer Group Inc. raised its holdings in shares of Carnival by 109.4% during the second quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after acquiring an additional 1,368 shares during the period. Blair William & Co. IL increased its stake in Carnival by 32.8% in the 2nd quarter. Blair William & Co. IL now owns 5,598 shares of the company’s stock valued at $367,000 after buying an additional 1,384 shares during the period. BB&T Securities LLC increased its stake in Carnival by 41.3% in the 2nd quarter. BB&T Securities LLC now owns 11,300 shares of the company’s stock valued at $741,000 after buying an additional 3,300 shares during the period. Federated Investors Inc. PA increased its stake in Carnival by 49.4% in the 2nd quarter. Federated Investors Inc. PA now owns 8,169 shares of the company’s stock valued at $536,000 after buying an additional 2,700 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Carnival by 14.7% in the 2nd quarter. Victory Capital Management Inc. now owns 34,549 shares of the company’s stock valued at $2,265,000 after buying an additional 4,422 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

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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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