Carnival Corporation (CCL) Earns “Neutral” Rating from Credit Suisse Group
Carnival Corporation (NYSE:CCL)‘s stock had its “neutral” rating restated by equities researchers at Credit Suisse Group in a research note issued on Thursday.
Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and issued a $68.00 price target on shares of Carnival Corporation in a research report on Friday, June 16th. Instinet boosted their price target on Carnival Corporation from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, June 23rd. HSBC Holdings plc restated a “buy” rating and issued a $71.00 price target (up previously from $65.00) on shares of Carnival Corporation in a research report on Monday, June 26th. ValuEngine upgraded Carnival Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Bank of America Corporation restated a “buy” rating and issued a $73.20 price target on shares of Carnival Corporation in a research report on Monday, July 24th. Ten investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $64.54.
Shares of Carnival Corporation (NYSE CCL) traded up 0.71% on Thursday, hitting $64.13. The stock had a trading volume of 1,834,113 shares. The stock has a 50 day moving average price of $67.69 and a 200-day moving average price of $63.59. Carnival Corporation has a 12-month low of $45.80 and a 12-month high of $69.89. The company has a market cap of $46.43 billion, a price-to-earnings ratio of 16.96 and a beta of 0.74. Carnival Corporation also was the target of unusually large options trading on Tuesday. Traders bought 8,594 call options on the company. This represents an increase of approximately 409% compared to the typical daily volume of 1,690 call options.
Carnival Corporation (NYSE:CCL) last posted its earnings results on Tuesday, September 26th. The company reported $2.29 EPS for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.09. Carnival Corporation had a return on equity of 12.34% and a net margin of 15.53%. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the firm earned $1.92 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. On average, equities analysts expect that Carnival Corporation will post $3.74 earnings per share for the current year.
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In other news, insider Alan Buckelew sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the sale, the insider now owns 150,860 shares of the company’s stock, valued at approximately $10,110,637.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of CCL. BlackRock Inc. lifted its stake in Carnival Corporation by 2,672.9% in the 1st quarter. BlackRock Inc. now owns 27,919,132 shares of the company’s stock valued at $1,644,716,000 after buying an additional 26,912,293 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Carnival Corporation by 316.9% in the 2nd quarter. Alliancebernstein L.P. now owns 4,236,266 shares of the company’s stock valued at $277,772,000 after buying an additional 3,220,191 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Carnival Corporation by 115.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,088,143 shares of the company’s stock valued at $202,505,000 after buying an additional 1,655,345 shares in the last quarter. Bank of America Corp DE lifted its stake in Carnival Corporation by 6.5% in the 1st quarter. Bank of America Corp DE now owns 24,838,450 shares of the company’s stock valued at $1,463,234,000 after buying an additional 1,519,630 shares in the last quarter. Finally, Numeric Investors LLC lifted its stake in Carnival Corporation by 160.4% in the 2nd quarter. Numeric Investors LLC now owns 2,416,066 shares of the company’s stock valued at $158,421,000 after buying an additional 1,488,366 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.
Carnival Corporation Company Profile
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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