Carnival (NYSE:CCL) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Tuesday, December 24th, ValuEngine reports.
Other equities research analysts have also recently issued research reports about the stock. Berenberg Bank cut shares of Carnival from a “hold” rating to a “sell” rating and set a $38.00 price target on the stock. in a research report on Friday, September 27th. Citigroup reduced their price target on shares of Carnival from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Standpoint Research upgraded shares of Carnival from a “hold” rating to a “buy” rating in a research report on Monday, December 23rd. Buckingham Research reduced their price target on shares of Carnival from $52.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. They noted that the move was a valuation call. Finally, Morgan Stanley reduced their price target on shares of Carnival from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $50.07.
Shares of Carnival stock traded up $0.55 on Tuesday, hitting $51.90. 6,560,212 shares of the company traded hands, compared to its average volume of 4,269,140. The stock has a market capitalization of $27.06 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.30 and a beta of 1.14. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.18 and a current ratio of 0.23. Carnival has a 52 week low of $39.92 and a 52 week high of $59.24. The business has a 50-day simple moving average of $48.33 and a 200 day simple moving average of $45.82.
Carnival (NYSE:CCL) last released its quarterly earnings data on Friday, December 20th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.11. The firm had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.56 billion. Carnival had a net margin of 14.36% and a return on equity of 12.29%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 earnings per share. Research analysts expect that Carnival will post 4.55 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Doyle Wealth Management purchased a new stake in shares of Carnival during the second quarter valued at $26,000. Lenox Wealth Advisors LLC purchased a new stake in shares of Carnival during the third quarter valued at $28,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of Carnival during the second quarter valued at $29,000. First Command Financial Services Inc. boosted its stake in shares of Carnival by 74.8% during the third quarter. First Command Financial Services Inc. now owns 701 shares of the company’s stock valued at $31,000 after purchasing an additional 300 shares during the period. Finally, Massey Quick Simon & CO. LLC boosted its stake in shares of Carnival by 579.6% during the third quarter. Massey Quick Simon & CO. LLC now owns 700 shares of the company’s stock valued at $31,000 after purchasing an additional 597 shares during the period. 76.95% 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.