Carnival (CCL) Lifted to “Overweight” at Barclays

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.

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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.

Carnival (NYSE:CCL) last issued its quarterly earnings results on Thursday, March 22nd. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.43 by $0.09. Carnival had a net margin of 14.73% and a return on equity of 11.97%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the previous year, the company earned $0.38 EPS. Carnival’s revenue was up 11.6% on a year-over-year basis. research analysts expect that Carnival will post 4.33 earnings per share for the current year.

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.

Analyst Recommendations for Carnival (NYSE:CCL)

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