Carnival (NYSE:CCL) PT Lowered to $52.00

Carnival (NYSE:CCL) had its target price cut by Deutsche Bank from $54.00 to $52.00 in a report published on Friday morning, BenzingaRatingsTable reports. They currently have a hold rating on the stock.

Several other research firms have also weighed in on CCL. Barclays boosted their price target on from GBX 200 ($2.61) to GBX 210 ($2.74) and gave the stock an equal weight rating in a research report on Friday, June 21st. Wedbush set a $130.00 price target on Childrens Place and gave the stock a buy rating in a research report on Friday, June 21st. Berenberg Bank reissued a buy rating and set a GBX 100 ($1.31) target price on shares of in a report on Monday, July 1st. Wolfe Research raised AbbVie from an underperform rating to a peer perform rating in a report on Thursday, June 27th. Finally, Nomura boosted their target price on Voyager Therapeutics from $26.00 to $37.00 and gave the stock a buy rating in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. Carnival presently has a consensus rating of Hold and an average target price of $61.72.

NYSE:CCL opened at $45.10 on Friday. The firm has a market cap of $23.76 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 1.07 and a beta of 1.09. Carnival has a twelve month low of $44.76 and a twelve month high of $67.69. The business’s 50 day moving average is $48.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.27 and a quick ratio of 0.22.

Carnival (NYSE:CCL) last posted its quarterly earnings results on Thursday, June 20th. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.49 billion. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 EPS. As a group, equities research analysts forecast that Carnival will post 4.34 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.00 annualized dividend and a yield of 4.43%. Carnival’s dividend payout ratio (DPR) is presently 46.95%.

In other news, CEO Arnold W. Donald purchased 22,050 shares of Carnival stock in a transaction that occurred on Tuesday, June 25th. The stock was acquired at an average cost of $45.23 per share, for a total transaction of $997,321.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Randall J. Weisenburger purchased 20,000 shares of Carnival stock in a transaction that occurred on Wednesday, July 3rd. The stock was purchased at an average price of $46.50 per share, with a total value of $930,000.00. The disclosure for this purchase can be found here. Insiders own 24.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Alpha LLC bought a new stake in Carnival in the 1st quarter valued at $29,000. Sontag Advisory LLC bought a new stake in shares of Carnival during the 4th quarter valued at $35,000. Peddock Capital Advisors LLC bought a new stake in shares of Carnival during the 1st quarter valued at $35,000. Resources Investment Advisors Inc. lifted its position in shares of Carnival by 823.5% during the 1st quarter. Resources Investment Advisors Inc. now owns 942 shares of the company’s stock valued at $48,000 after acquiring an additional 840 shares during the period. Finally, First Mercantile Trust Co. lifted its position in shares of Carnival by 24.0% during the 1st quarter. First Mercantile Trust Co. now owns 1,240 shares of the company’s stock valued at $63,000 after acquiring an additional 240 shares during the period. Institutional investors and hedge funds own 74.84% of the company’s stock.

Carnival Company Profile

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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