Carnival Corporation (NYSE:CCL)‘s stock had its “buy” rating reissued by research analysts at Instinet in a research note issued to investors on Monday. They currently have a $75.00 price target on the stock. Instinet’s price target suggests a potential upside of 17.00% from the stock’s previous close.

Several other brokerages have also recently issued reports on CCL. William Blair restated an “outperform” rating on shares of Carnival Corporation in a report on Friday, June 9th. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price target on shares of Carnival Corporation in a research note on Friday, June 16th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $57.00 price target (up from $55.00) on shares of Carnival Corporation in a research note on Tuesday, June 20th. Deutsche Bank AG reissued a “hold” rating and issued a $62.00 price target (up from $58.00) on shares of Carnival Corporation in a research report on Sunday, June 25th. Finally, Wedbush reissued a “neutral” rating and issued a $66.00 price target (up from $61.00) on shares of Carnival Corporation in a research report on Sunday, June 25th. Ten analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Carnival Corporation presently has a consensus rating of “Buy” and an average price target of $65.07.

Shares of Carnival Corporation (NYSE:CCL) opened at 64.10 on Monday. The firm has a market cap of $46.22 billion, a PE ratio of 17.43 and a beta of 0.71. Carnival Corporation has a 12 month low of $45.92 and a 12 month high of $69.89. The firm’s 50-day moving average price is $66.71 and its 200-day moving average price is $64.15.

Carnival Corporation (NYSE:CCL) last announced its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.09. Carnival Corporation had a net margin of 15.53% and a return on equity of 12.15%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the firm posted $1.92 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. Analysts expect that Carnival Corporation will post $3.69 earnings per share for the current year.

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In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of Carnival Corporation stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $67.02, for a total value 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 the SEC website. 23.80% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Carnival Corporation by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 28,919,554 shares of the company’s stock valued at $1,896,255,000 after buying an additional 934,311 shares during the period. BlackRock Inc. boosted its stake in shares of Carnival Corporation by 2.0% in the second quarter. BlackRock Inc. now owns 28,469,248 shares of the company’s stock valued at $1,866,728,000 after buying an additional 550,116 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Carnival Corporation by 6.5% in the first 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. State Street Corp grew its holdings in Carnival Corporation by 1.6% during the first quarter. State Street Corp now owns 17,999,377 shares of the company’s stock worth $1,060,346,000 after acquiring an additional 284,607 shares during the period. Finally, Investec Asset Management LTD grew its holdings in Carnival Corporation by 6.5% during 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 period. 77.34% of the stock is owned by institutional investors and hedge funds.

About Carnival Corporation

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.

Analyst Recommendations for Carnival Corporation (NYSE:CCL)

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