Carnival Corporation (CCL) Stock Rating Reaffirmed by Instinet
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.
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