Carnival (CCL) Rating Increased to Outperform at Credit Suisse Group

Carnival (NYSE:CCL) was upgraded by Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $70.00 target price on the stock, up from their prior target price of $66.05. Credit Suisse Group’s target price indicates a potential upside of 0.44% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. ValuEngine raised shares of Carnival from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Tigress Financial reissued a “buy” rating on shares of Carnival in a research report on Friday, December 22nd. Barclays upped their price objective on shares of Carnival from $67.00 to $73.00 and gave the company an “equal weight” rating in a research report on Thursday, December 21st. Deutsche Bank upped their price objective on shares of Carnival to $70.00 and gave the company a “hold” rating in a research report on Wednesday, December 20th. Finally, Buckingham Research reissued a “buy” rating and issued a $84.00 price objective (up from $80.00) on shares of Carnival in a research report on Wednesday, December 20th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Carnival presently has an average rating of “Buy” and a consensus price target of $72.78.

Shares of Carnival (CCL) traded up $0.89 during midday trading on Tuesday, reaching $69.69. The company had a trading volume of 3,243,963 shares, compared to its average volume of 3,170,000. Carnival has a 52-week low of $52.65 and a 52-week high of $69.89. The firm has a market cap of $49,900.00, a P/E ratio of 19.41, a P/E/G ratio of 1.17 and a beta of 0.73. The company has a current ratio of 0.18, a quick ratio of 0.14 and a debt-to-equity ratio of 0.29.

Carnival (NYSE:CCL) last announced its quarterly earnings results 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 firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 EPS. equities analysts predict that Carnival will post 4.24 earnings per share for the current fiscal year.

In other news, CEO Arnold W. Donald sold 5,000 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $65.43, for a total transaction of $327,150.00. Following the transaction, the chief executive officer now owns 115,572 shares of the company’s stock, valued at $7,561,875.96. The sale 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 stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $67.41, for a total transaction of $6,127,771.23. The disclosure for this sale can be found here. Insiders have sold 354,545 shares of company stock worth $23,694,789 in the last ninety days. Corporate insiders own 23.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Carnival by 3.3% in the second quarter. Vanguard Group Inc. now owns 28,919,554 shares of the company’s stock worth $1,896,255,000 after acquiring an additional 934,311 shares during the last quarter. BlackRock Inc. lifted its holdings in Carnival by 2.0% in the second quarter. BlackRock Inc. now owns 28,469,248 shares of the company’s stock worth $1,866,728,000 after acquiring an additional 550,116 shares during the last quarter. Investec Asset Management LTD lifted its holdings in Carnival by 6.5% in the second quarter. Investec Asset Management LTD now owns 4,961,591 shares of the company’s stock worth $325,332,000 after acquiring an additional 303,161 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Carnival by 14.1% in the third quarter. Janus Henderson Group PLC now owns 3,525,084 shares of the company’s stock worth $227,614,000 after acquiring an additional 436,941 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Carnival by 4.0% in the third quarter. Dimensional Fund Advisors LP now owns 3,129,502 shares of the company’s stock worth $202,067,000 after acquiring an additional 119,107 shares during the last quarter. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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