Carnival (NYSE:CCL) Rating Lowered to Strong Sell at ValuEngine

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ValuEngine cut shares of Carnival (NYSE:CCL) from a sell rating to a strong sell rating in a report released on Thursday, ValuEngine reports.

A number of other equities research analysts have also commented on the company. Nomura upped their price target on Voyager Therapeutics from $26.00 to $37.00 and gave the company a buy rating in a research report on Thursday, June 20th. Deutsche Bank reiterated a buy rating and issued a GBX 430 ($5.62) price target on shares of in a research report on Friday, June 21st. Barclays upped their price target on from GBX 200 ($2.61) to GBX 210 ($2.74) and gave the company an equal weight rating in a research report on Friday, June 21st. William Blair restated an outperform rating on shares of American Software in a research report on Thursday, June 20th. Finally, SunTrust Banks cut their target price on Carnival to $65.00 and set a buy rating on the stock in a research report on Friday, June 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. Carnival presently has a consensus rating of Hold and an average target price of $61.83.

NYSE CCL opened at $46.26 on Thursday. The company has a 50-day moving average of $49.43. Carnival has a 12 month low of $44.76 and a 12 month high of $67.69. The company has a market cap of $24.38 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.10 and a beta of 1.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.27 and a quick ratio of 0.22.

Carnival (NYSE:CCL) last released its quarterly earnings results on Thursday, June 20th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The business’s revenue was up 11.0% on a year-over-year basis. On average, analysts forecast that Carnival will post 4.34 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 23rd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.32%. Carnival’s payout ratio is currently 46.95%.

In related news, Director Randall J. Weisenburger purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was purchased at an average cost of $46.50 per share, with a total value of $930,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arnold W. Donald purchased 22,050 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was bought at an average cost of $45.23 per share, with a total value of $997,321.50. The disclosure for this purchase can be found here. 24.10% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of CCL. Advisory Alpha LLC purchased a new stake in shares of Carnival in the first quarter worth $29,000. Sontag Advisory LLC purchased a new stake in shares of Carnival in the fourth quarter worth $35,000. Peddock Capital Advisors LLC purchased a new stake in shares of Carnival in the first quarter worth $35,000. Resources Investment Advisors Inc. raised its position in shares of Carnival by 823.5% in the first quarter. Resources Investment Advisors Inc. now owns 942 shares of the company’s stock worth $48,000 after buying an additional 840 shares in the last quarter. Finally, First Mercantile Trust Co. raised its position in shares of Carnival by 24.0% in the first quarter. First Mercantile Trust Co. now owns 1,240 shares of the company’s stock worth $63,000 after buying an additional 240 shares in the last quarter. Institutional investors own 74.92% of the company’s stock.

Carnival Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Carnival (NYSE:CCL)

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