Carnival (NYSE:CCL) had its price target cut by research analysts at Barclays from $70.00 to $69.00 in a research note issued on Friday, December 21st. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 31.68% from the company’s previous close.
A number of other analysts also recently weighed in on the company. ValuEngine downgraded Carnival from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Cleveland Research upgraded Carnival from a “neutral” rating to a “buy” rating in a research note on Monday, December 17th. Stifel Nicolaus decreased their price target on Carnival from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday, September 28th. Zacks Investment Research downgraded Carnival from a “hold” rating to a “sell” rating in a research note on Monday, August 27th. Finally, Macquarie set a $55.00 price target on Carnival and gave the company a “sell” rating in a research note on Friday, September 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. Carnival presently has a consensus rating of “Hold” and an average target price of $70.13.
Shares of NYSE CCL traded up $0.11 during midday trading on Friday, hitting $52.40. 3,060,054 shares of the company’s stock were exchanged, compared to its average volume of 4,519,594. The firm has a market capitalization of $27.39 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.19 and a current ratio of 0.24. Carnival has a twelve month low of $45.64 and a twelve month high of $72.70.
Carnival (NYSE:CCL) last announced its earnings results on Thursday, December 20th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Carnival had a return on equity of 12.44% and a net margin of 16.70%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the business posted $0.63 EPS. The company’s revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts forecast that Carnival will post 4.74 earnings per share for the current fiscal year.
In related news, CEO Arnold W. Donald purchased 21,595 shares of the business’s stock in a transaction dated Wednesday, December 26th. The stock was bought at an average cost of $46.43 per share, with a total value of $1,002,655.85. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 23.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. New England Research & Management Inc. grew its position in Carnival by 106.6% during the fourth quarter. New England Research & Management Inc. now owns 34,653 shares of the company’s stock valued at $1,708,000 after acquiring an additional 17,878 shares during the period. First Hawaiian Bank boosted its position in shares of Carnival by 31.3% in the fourth quarter. First Hawaiian Bank now owns 30,288 shares of the company’s stock worth $1,494,000 after buying an additional 7,217 shares during the period. Cerebellum GP LLC purchased a new stake in shares of Carnival in the fourth quarter worth about $222,000. Norman Fields Gottscho Capital Management LLC boosted its position in shares of Carnival by 0.8% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 31,782 shares of the company’s stock worth $1,567,000 after buying an additional 250 shares during the period. Finally, Palo Capital Inc. acquired a new position in shares of Carnival in the third quarter worth about $189,000. Hedge funds and other institutional investors own 75.83% of the company’s stock.
Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.
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