Carnival Corp (NYSE:CCL) Receives Average Rating of “Hold” from Brokerages

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Carnival Corp (NYSE:CCL) has been given a consensus rating of “Hold” by the twenty-six ratings firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $19.59.

CCL has been the subject of several recent research reports. Macquarie downgraded Carnival from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $27.00 to $18.00 in a research note on Tuesday, July 14th. Wedbush reduced their price target on Carnival from $29.00 to $20.00 in a research note on Monday, July 13th. SunTrust Banks downgraded Carnival from a “hold” rating to a “sell” rating and set a $10.00 target price for the company. in a research report on Tuesday, July 14th. HSBC downgraded Carnival from a “buy” rating to a “hold” rating and set a $15.30 target price for the company. in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. cut their target price on Carnival from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, July 13th.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Advisers LP increased its holdings in Carnival by 245.1% in the 2nd quarter. Two Sigma Advisers LP now owns 2,085,000 shares of the company’s stock worth $34,236,000 after purchasing an additional 1,480,811 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Carnival by 8.1% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,212 shares of the company’s stock worth $8,131,000 after purchasing an additional 37,149 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Carnival by 28.2% in the 2nd quarter. Principal Financial Group Inc. now owns 710,013 shares of the company’s stock worth $11,658,000 after purchasing an additional 156,329 shares in the last quarter. Toronto Dominion Bank increased its holdings in Carnival by 115.6% in the 2nd quarter. Toronto Dominion Bank now owns 556,566 shares of the company’s stock worth $9,138,000 after purchasing an additional 298,445 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Carnival by 2.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 201,296 shares of the company’s stock worth $3,304,000 after purchasing an additional 5,208 shares in the last quarter. 64.07% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE CCL opened at $15.93 on Wednesday. The stock has a 50 day moving average of $15.78 and a 200-day moving average of $16.41. The company has a market capitalization of $10.72 billion, a P/E ratio of -3.96 and a beta of 1.94. Carnival has a 12 month low of $7.80 and a 12 month high of $51.94. The company has a current ratio of 0.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.71.

Carnival (NYSE:CCL) last released its quarterly earnings results on Friday, July 10th. The company reported ($3.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.79) by ($1.51). The firm had revenue of $740.00 million during the quarter, compared to the consensus estimate of $401.40 million. Carnival had a negative net margin of 17.53% and a positive return on equity of 0.06%. The business’s revenue for the quarter was down 84.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. Analysts predict that Carnival will post -7.38 EPS for the current fiscal year.

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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Analyst Recommendations for Carnival (NYSE:CCL)

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