Carnival (NYSE:CCL) Upgraded by Freedom Capital to “Strong-Buy” Rating

Carnival (NYSE:CCL) was upgraded by Freedom Capital to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Barclays decreased their target price on Carnival from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Susquehanna decreased their target price on Carnival from $40.00 to $30.00 and set a “positive” rating for the company in a research report on Monday, March 23rd. Weiss Ratings lowered Carnival from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Zacks Research raised Carnival from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Citigroup decreased their target price on Carnival from $39.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.80.

Carnival Price Performance

CCL opened at $27.87 on Wednesday. The stock has a 50-day moving average price of $26.56 and a 200-day moving average price of $28.06. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.30 and a quick ratio of 0.26. The firm has a market cap of $34.53 billion, a PE ratio of 12.39, a P/E/G ratio of 1.21 and a beta of 2.32. Carnival has a 1 year low of $22.11 and a 1 year high of $34.03.

Carnival (NYSE:CCL) last issued its earnings results on Friday, March 27th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.13 billion. During the same quarter in the previous year, the firm earned $0.13 EPS. Carnival’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts predict that Carnival will post 2.21 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Bettina Alejandra Deynes sold 43,058 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the completion of the sale, the insider owned 69,238 shares of the company’s stock, valued at $1,945,587.80. This represents a 38.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sir Jonathon Band sold 11,988 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total transaction of $313,965.72. Following the sale, the director directly owned 52,601 shares of the company’s stock, valued at $1,377,620.19. The trade was a 18.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,058 shares of company stock valued at $1,524,195 in the last ninety days. Insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CCL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Carnival by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,167 shares of the company’s stock valued at $2,191,000 after acquiring an additional 5,435 shares during the period. Great Lakes Advisors LLC bought a new position in shares of Carnival during the 1st quarter valued at approximately $228,000. Empowered Funds LLC boosted its stake in Carnival by 61.6% in the 1st quarter. Empowered Funds LLC now owns 30,437 shares of the company’s stock worth $594,000 after purchasing an additional 11,601 shares during the period. Woodline Partners LP boosted its stake in Carnival by 41.9% in the 1st quarter. Woodline Partners LP now owns 88,522 shares of the company’s stock worth $1,729,000 after purchasing an additional 26,141 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in Carnival by 57.0% in the 2nd quarter. Baird Financial Group Inc. now owns 64,720 shares of the company’s stock worth $1,820,000 after purchasing an additional 23,484 shares during the period. 67.19% of the stock is currently owned by institutional investors.

About Carnival

Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company’s core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.