Carnival (CCL) Rating Increased to Buy at Goldman Sachs Group

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Carnival (NYSE:CCL) was upgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage presently has a $65.00 target price on the stock, up from their prior target price of $63.00. Goldman Sachs Group’s price target indicates a potential upside of 15.19% from the company’s current price.

Several other equities research analysts have also recently weighed in on CCL. Zacks Investment Research upgraded shares of Carnival from a “sell” rating to a “hold” rating in a research note on Wednesday, December 19th. ValuEngine upgraded shares of Carnival from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th. Wolfe Research set a $73.00 target price on shares of Carnival and gave the company a “buy” rating in a research note on Tuesday, December 11th. Credit Suisse Group set a $76.00 price target on shares of Carnival and gave the stock a “buy” rating in a research note on Tuesday, November 20th. Finally, Standpoint Research cut shares of Carnival from a “buy” rating to a “hold” rating and set a $57.16 price target for the company. in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. Carnival has an average rating of “Buy” and an average price target of $69.70.

NYSE CCL opened at $56.43 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.24 and a quick ratio of 0.19. Carnival has a twelve month low of $45.64 and a twelve month high of $69.11. The stock has a market capitalization of $29.56 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.87 and a beta of 1.26.

Carnival (NYSE:CCL) last released its earnings results on Thursday, December 20th. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Carnival had a net margin of 16.70% and a return on equity of 12.44%. The business had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Carnival will post 4.74 earnings per share for the current year.

In other news, CEO Arnold W. Donald acquired 21,595 shares of the company’s stock in a transaction dated Wednesday, December 26th. The stock was bought at an average price of $46.43 per share, with a total value of $1,002,655.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Arnaldo Perez sold 5,691 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $57.08, for a total transaction of $324,842.28. Following the sale, the general counsel now directly owns 43,724 shares of the company’s stock, valued at approximately $2,495,765.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,792 shares of company stock valued at $4,053,366. Corporate insiders own 24.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Merchants Corp increased its holdings in shares of Carnival by 6.3% during the fourth quarter. First Merchants Corp now owns 35,110 shares of the company’s stock worth $1,731,000 after buying an additional 2,072 shares in the last quarter. Chartwell Investment Partners LLC increased its holdings in shares of Carnival by 10.0% during the fourth quarter. Chartwell Investment Partners LLC now owns 246,448 shares of the company’s stock worth $12,150,000 after buying an additional 22,373 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Carnival by 6.0% during the third quarter. Raymond James Trust N.A. now owns 48,111 shares of the company’s stock worth $3,068,000 after buying an additional 2,724 shares in the last quarter. MA Private Wealth acquired a new stake in shares of Carnival during the fourth quarter worth approximately $308,000. Finally, CWM LLC increased its holdings in shares of Carnival by 44.4% during the fourth quarter. CWM LLC now owns 1,435 shares of the company’s stock worth $71,000 after buying an additional 441 shares in the last quarter. 75.85% of the stock is owned by institutional investors.

About Carnival

Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.

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Analyst Recommendations for Carnival (NYSE:CCL)

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