JPMorgan Chase & Co. Increases Carnival (CCL) Price Target to $77.00

Carnival (NYSE:CCL) had its price target increased by JPMorgan Chase & Co. from $75.00 to $77.00 in a report released on Friday. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 19.55% from the stock’s previous close.

CCL has been the subject of several other reports. Tigress Financial reaffirmed a “buy” rating on shares of Carnival in a report on Friday, December 22nd. Deutsche Bank upped their target price on Carnival to $70.00 and gave the company a “hold” rating in a report on Wednesday, December 20th. Credit Suisse Group raised Carnival from a “neutral” rating to an “outperform” rating and upped their target price for the company from $66.05 to $70.00 in a report on Tuesday, January 9th. Morgan Stanley raised Carnival from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $65.94 to $68.00 in a report on Wednesday, December 6th. Finally, Barclays upped their target price on Carnival from $67.00 to $73.00 and gave the company an “equal weight” rating in a report on Thursday, December 21st. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Carnival presently has a consensus rating of “Buy” and an average price target of $74.33.

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Shares of Carnival (NYSE:CCL) opened at $64.41 on Friday. The company has a market capitalization of $35,362.16, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.09 and a beta of 0.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.14 and a current ratio of 0.18. Carnival has a twelve month low of $57.39 and a twelve month high of $72.70.

Carnival (NYSE:CCL) last released its earnings results on Thursday, March 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.11 billion. Carnival had a return on equity of 12.04% and a net margin of 14.73%. Carnival’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. sell-side analysts predict that Carnival will post 4.29 earnings per share for the current fiscal year.

In other Carnival news, General Counsel Arnaldo Perez sold 15,166 shares of the stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total transaction of $1,009,903.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Arnold W. Donald sold 3,000 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $68.00, for a total value of $204,000.00. Following the sale, the chief executive officer now owns 132,376 shares in the company, valued at approximately $9,001,568. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 333,364 shares of company stock worth $22,422,561. Company insiders own 23.80% of the company’s stock.

Several large investors have recently bought and sold shares of CCL. Macquarie Group Ltd. lifted its position in shares of Carnival by 4.0% during the third quarter. Macquarie Group Ltd. now owns 131,199 shares of the company’s stock worth $8,471,000 after acquiring an additional 5,079 shares in the last quarter. ING Groep NV lifted its position in shares of Carnival by 732.3% during the third quarter. ING Groep NV now owns 46,278 shares of the company’s stock worth $2,988,000 after acquiring an additional 40,718 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Carnival during the third quarter worth $1,433,000. Harwood Advisory Group LLC lifted its position in shares of Carnival by 35.3% during the third quarter. Harwood Advisory Group LLC now owns 14,991 shares of the company’s stock worth $968,000 after acquiring an additional 3,911 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Carnival by 2.0% during the third quarter. Nordea Investment Management AB now owns 1,380,751 shares of the company’s stock worth $89,155,000 after acquiring an additional 27,234 shares in the last quarter. Hedge funds and other institutional investors own 76.72% of the company’s stock.

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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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