Carnival (NYSE:CCL) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other equities research analysts also recently issued reports on CCL. Citigroup lowered their price target on Carnival from $79.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, August 8th. Zacks Investment Research downgraded Carnival from a “hold” rating to a “sell” rating in a research report on Monday, August 27th. Credit Suisse Group set a $75.00 price target on Carnival and gave the company a “buy” rating in a research report on Thursday, September 13th. Goldman Sachs Group set a $70.00 price target on Carnival and gave the company a “hold” rating in a research report on Monday, September 24th. Finally, Bank of America set a $78.00 price target on Carnival and gave the company a “buy” rating in a research report on Wednesday, September 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $72.86.

CCL stock traded up $1.13 during trading on Tuesday, reaching $58.90. 3,567,600 shares of the stock traded hands, compared to its average volume of 3,783,746. Carnival has a 52-week low of $53.47 and a 52-week high of $72.70. The company has a current ratio of 0.22, a quick ratio of 0.17 and a debt-to-equity ratio of 0.34. The company has a market cap of $30.84 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.99 and a beta of 1.01.

Carnival (NYSE:CCL) last posted its quarterly earnings results on Thursday, September 27th. The company reported $2.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.32 by $0.04. Carnival had a return on equity of 12.30% and a net margin of 17.15%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts forecast that Carnival will post 4.25 EPS for the current fiscal year.

In other news, General Counsel Arnaldo Perez sold 7,000 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $64.26, for a total value of $449,820.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.80% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its stake in shares of Carnival by 0.5% in the second quarter. Northern Trust Corp now owns 25,028,806 shares of the company’s stock worth $1,434,401,000 after acquiring an additional 121,834 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in shares of Carnival by 1.9% in the third quarter. OppenheimerFunds Inc. now owns 7,295,657 shares of the company’s stock worth $465,245,000 after acquiring an additional 135,561 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Carnival by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 3,921,357 shares of the company’s stock worth $224,733,000 after acquiring an additional 55,116 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Carnival by 30.0% in the third quarter. Janus Henderson Group PLC now owns 3,745,501 shares of the company’s stock worth $238,841,000 after acquiring an additional 863,411 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Carnival by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,152,308 shares of the company’s stock worth $201,020,000 after acquiring an additional 11,485 shares in the last quarter. Institutional investors and hedge funds own 76.14% of the company’s stock.

About Carnival

Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.

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Analyst Recommendations for Carnival (NYSE:CCL)

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