Barclays upgraded shares of Carnival (NYSE:CCL) from an equal weight rating to an overweight rating in a research report released on Friday morning, Marketbeat.com reports. Barclays currently has $77.00 target price on the stock.
Several other brokerages have also recently commented on CCL. Buckingham Research reiterated 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. Credit Suisse Group upgraded shares of Carnival from a neutral rating to an outperform rating and lifted their price target for the stock from $66.05 to $70.00 in a research report on Tuesday, January 9th. Morgan Stanley upgraded shares of Carnival from an underweight rating to an equal weight rating and lifted their price target for the stock from $65.94 to $68.00 in a research report on Wednesday, December 6th. Tigress Financial reiterated a buy rating on shares of Carnival in a research report on Friday, December 22nd. Finally, Zacks Investment Research upgraded shares of Carnival from a sell rating to a hold rating in a research report on Thursday, December 7th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Carnival has an average rating of Buy and an average target price of $74.33.
Shares of Carnival (NYSE CCL) opened at $64.41 on Friday. Carnival has a 1 year low of $57.39 and a 1 year high of $72.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.14 and a current ratio of 0.19. The company has a market cap of $34,405.99, a P/E ratio of 16.26, a PEG ratio of 1.05 and a beta of 0.80.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, February 23rd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Thursday, February 22nd. Carnival’s dividend payout ratio is currently 21.92%.
In related news, CEO Arnold W. Donald sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $68.00, for a total transaction of $204,000.00. Following the completion of the transaction, the chief executive officer now owns 132,376 shares in the company, valued at $9,001,568. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stein Kruse sold 60,665 shares of Carnival stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total transaction of $4,039,682.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 333,364 shares of company stock valued at $22,422,561. Corporate insiders own 23.80% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CCL. Macquarie Group Ltd. lifted its stake in Carnival by 4.0% in the third quarter. Macquarie Group Ltd. now owns 131,199 shares of the company’s stock valued at $8,471,000 after buying an additional 5,079 shares in the last quarter. ING Groep NV lifted its stake in Carnival by 732.3% in the third quarter. ING Groep NV now owns 46,278 shares of the company’s stock valued at $2,988,000 after buying an additional 40,718 shares in the last quarter. LMR Partners LLP bought a new position in Carnival in the third quarter valued at approximately $1,433,000. Harwood Advisory Group LLC lifted its stake in Carnival by 35.3% in the third quarter. Harwood Advisory Group LLC now owns 14,991 shares of the company’s stock valued at $968,000 after buying an additional 3,911 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Carnival by 2.0% in the third quarter. Nordea Investment Management AB now owns 1,380,751 shares of the company’s stock valued at $89,155,000 after buying an additional 27,234 shares in the last quarter. 76.73% of the stock is currently owned by hedge funds and other 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.
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