Analysts’ Recent Ratings Updates for Carnival Corporation (CCL)

A number of research firms have changed their ratings and price targets for Carnival Corporation (NYSE: CCL):

  • 8/1/2017 – Carnival Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $75.00 price target on the stock. According to Zacks, “Carnival shares have outpaced the industry in the past one year. Given burgeoning demand for cruise travel in 2017, the addition of new ships to its fleet bodes well. Carnival believes that it is well positioned for continued earnings growth, given the current strength in its bookings along with pricing trends for the year. Notably, its brand building efforts together with other marketing activities are driving bookings. Its strategy of growing beyond familiar itineraries and capitalizing on fast growing markets also bodes well. New onboard product offerings and strategic initiatives are expected to drive onboard yield gains. Cost containment efforts like lower fuel consumption could also aid profits. However, adverse forex translations, higher costs along with macroeconomic issues in key operating regions remain headwinds. A potential increase in fuel costs can also hamper its profitability.”
  • 7/31/2017 – Carnival Corporation was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/28/2017 – Carnival Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Carnival shares have outpaced the industry in the past one year. Given burgeoning demand for cruise travel in 2017, the addition of new ships to its fleet bodes well. Carnival believes that it is well positioned for continued earnings growth, given the current strength in its bookings along with pricing trends for the year. Notably, its brand building efforts together with other marketing activities are driving bookings. Its strategy of growing beyond familiar itineraries and capitalizing on fast growing markets also bodes well. New onboard product offerings and strategic initiatives are expected to drive onboard yield gains. Cost containment efforts like lower fuel consumption could also aid profits. However, adverse forex translations, higher costs along with macroeconomic issues in key operating regions remain headwinds. A potential increase in fuel costs can also hamper its profitability.”
  • 7/24/2017 – Carnival Corporation had its “buy” rating reaffirmed by analysts at Bank of America Corporation. They now have a $73.20 price target on the stock.
  • 7/12/2017 – Carnival Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $74.00 price target on the stock. According to Zacks, “Carnival posted second-quarter fiscal 2017 earnings of $0.52, which topped the Zacks Consensus Estimate by 10.6% and rose 6.1% year over year. Meanwhile, revenues came in at $3.95 billion, nearly 2% above the consensus mark and also increased 6.5% year over year, buoyed by Carnival’s efforts to drive demand. The company believes that it is well positioned for continued earnings growth, given the current strength in its bookings. Notably, Carnival shares have outperformed the Zacks categorized Leisure & Recreation Services industry year to date. Going forward, brand-building efforts, new onboard product offerings coupled with various strategic initiatives are expected to drive onboard yield gains. Also, its strategy to grow beyond familiar itineraries and capitalize on fast growing markets like Asia and Cuba bode well. However, negative currency translation along with macroeconomic issues in key operating regions remain potent headwinds.”
  • 7/6/2017 – Carnival Corporation was downgraded by analysts at KeyCorp to an “overweight” rating.
  • 6/26/2017 – Carnival Corporation had its “buy” rating reaffirmed by analysts at HSBC Holdings plc. They now have a $71.00 price target on the stock, up previously from $65.00.
  • 6/25/2017 – Carnival Corporation had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $62.00 price target on the stock, up previously from $58.00.
  • 6/25/2017 – Carnival Corporation had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $66.00 price target on the stock, up previously from $61.00.
  • 6/23/2017 – Carnival Corporation had its price target raised by analysts at Instinet from $72.00 to $75.00. They now have a “buy” rating on the stock.
  • 6/23/2017 – Carnival Corporation had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $74.00 price target on the stock, up previously from $68.00.
  • 6/20/2017 – Carnival Corporation had its “neutral” rating reaffirmed by analysts at Goldman Sachs Group, Inc. (The). They now have a $57.00 price target on the stock, up previously from $55.00.
  • 6/16/2017 – Carnival Corporation had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $68.00 price target on the stock.

Carnival Corporation (NYSE CCL) opened at 67.38 on Friday. The company has a 50-day moving average of $66.57 and a 200-day moving average of $61.19. Carnival Corporation has a 52 week low of $44.11 and a 52 week high of $68.87. The firm has a market capitalization of $48.78 billion, a price-to-earnings ratio of 17.82 and a beta of 0.75.

Carnival Corporation (NYSE:CCL) last issued its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. On average, equities analysts forecast that Carnival Corporation will post $3.74 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Wednesday, August 23rd. Carnival Corporation’s dividend payout ratio is currently 42.55%.

In other news, insider Alan Buckelew sold 15,000 shares of Carnival Corporation stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the completion of the transaction, the insider now directly owns 150,860 shares in the company, valued at $10,110,637.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 23.80% of the stock is owned by company insiders.

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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