Carnival (NYSE:CCL) Price Target Raised to $62.00

Carnival (NYSE:CCL) had its target price boosted by Stifel Nicolaus from $57.00 to $62.00 in a research report released on Monday morning, The Fly reports. Stifel Nicolaus currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank lowered their price target on shares of Carnival from $54.00 to $52.00 and set a hold rating for the company in a research report on Friday, July 19th. Zacks Investment Research cut shares of Carnival from a hold rating to a sell rating in a research report on Monday, May 20th. Wedbush lowered their price target on shares of Carnival from $54.00 to $50.00 and set a neutral rating for the company in a research report on Friday, June 21st. Wells Fargo & Co lowered their price target on shares of Carnival from $67.00 to $59.00 and set an outperform rating for the company in a research report on Monday, June 24th. Finally, Nomura cut shares of Carnival from a buy rating to a neutral rating and lowered their price target for the stock from $60.00 to $52.00 in a research report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Carnival has a consensus rating of Hold and a consensus price target of $60.39.

CCL opened at $48.84 on Monday. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $26.64 billion, a PE ratio of 11.46, a PEG ratio of 1.20 and a beta of 1.09. Carnival has a 1-year low of $42.42 and a 1-year high of $67.69. The firm has a 50-day moving average price of $45.83 and a two-hundred day moving average price of $50.27.



Carnival (NYSE:CCL) last posted its quarterly earnings data on Thursday, June 20th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Carnival had a net margin of 15.09% and a return on equity of 12.15%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 EPS. On average, research analysts predict that Carnival will post 4.33 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, August 22nd. Carnival’s dividend payout ratio is 46.95%.

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

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Carnival by 8.2% during the 1st quarter. BlackRock Inc. now owns 30,754,347 shares of the company’s stock worth $1,559,860,000 after acquiring an additional 2,336,518 shares during the last quarter. Vanguard Group Inc. boosted its stake in Carnival by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 30,480,817 shares of the company’s stock worth $1,418,882,000 after acquiring an additional 240,301 shares during the last quarter. Invesco Ltd. lifted its stake in Carnival by 22.0% in the second quarter. Invesco Ltd. now owns 21,734,076 shares of the company’s stock valued at $1,011,721,000 after buying an additional 3,925,980 shares in the last quarter. Geode Capital Management LLC lifted its stake in Carnival by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 4,710,995 shares of the company’s stock valued at $231,797,000 after buying an additional 292,550 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Carnival by 12,460.0% in the second quarter. Nuveen Asset Management LLC now owns 4,311,837 shares of the company’s stock valued at $200,716,000 after buying an additional 4,277,507 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

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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