Credit Suisse Group upgraded shares of Carnival (NYSE:CCL) from a neutral rating to an outperform rating in a report published on Tuesday, Marketbeat Ratings reports. The brokerage currently has $70.00 price objective on the stock, up from their previous price objective of $66.05.

A number of other research firms have also commented on CCL. Buckingham Research reaffirmed a buy rating and set a $84.00 price target (up previously from $80.00) on shares of Carnival in a research report on Wednesday, December 20th. Deutsche Bank reaffirmed a hold rating and set a $61.00 price target (down previously from $62.00) on shares of Carnival in a research report on Wednesday, September 27th. Argus reaffirmed a neutral rating and set a $67.00 price target (down previously from $78.00) on shares of Carnival in a research report on Thursday, September 28th. Morgan Stanley raised Carnival from an underweight rating to an equal weight rating and upped their price target for the company from $65.94 to $68.00 in a research report on Wednesday, December 6th. Finally, Tigress Financial reaffirmed a buy rating on shares of Carnival in a research report on Friday, December 22nd. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $72.78.

Carnival (NYSE:CCL) traded up $0.89 on Tuesday, reaching $69.69. The company’s stock had a trading volume of 3,243,963 shares, compared to its average volume of 3,170,000. The company has a market cap of $49,900.00, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 1.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.18 and a quick ratio of 0.14. Carnival has a fifty-two week low of $52.65 and a fifty-two week high of $69.89.

Carnival (NYSE:CCL) last released its quarterly earnings results on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. Carnival had a return on equity of 11.78% and a net margin of 14.88%. Carnival’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 EPS. analysts anticipate that Carnival will post 4.24 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Wednesday, November 22nd. This is a positive change from Carnival’s previous quarterly dividend of $0.40. Carnival’s dividend payout ratio (DPR) is 44.57%.

In related news, CFO David Bernstein sold 51,454 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $66.76, for a total transaction of $3,435,069.04. Following the completion of the transaction, the chief financial officer now owns 67,371 shares of the company’s stock, valued at approximately $4,497,687.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Arnaldo Perez sold 15,166 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total value of $1,009,903.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 354,545 shares of company stock valued at $23,694,789. 23.80% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Pathstone Family Office LLC increased its position in Carnival by 200.0% during the 2nd quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock valued at $2,493,000 after buying an additional 38 shares in the last quarter. Grove Bank & Trust increased its position in Carnival by 367.8% during the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after buying an additional 1,600 shares in the last quarter. Smithfield Trust Co. increased its position in Carnival by 826.2% during the 3rd quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock valued at $182,000 after buying an additional 2,520 shares in the last quarter. YorkBridge Wealth Partners LLC increased its position in Carnival by 1.4% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after buying an additional 40 shares in the last quarter. Finally, Sun Life Financial INC increased its position in Carnival by 23,315.4% during the 2nd quarter. Sun Life Financial INC now owns 3,044 shares of the company’s stock valued at $200,000 after buying an additional 3,031 shares in the last quarter. 75.91% of the stock is owned by institutional investors.

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Carnival 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.

Analyst Recommendations for Carnival (NYSE:CCL)

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