Carnival (NYSE: CCL) recently received a number of ratings updates from brokerages and research firms:

  • 12/12/2017 – Carnival was given a new $72.00 price target on by analysts at Credit Suisse Group AG. They now have a “hold” rating on the stock.
  • 12/7/2017 – Carnival was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Carnival shares have outpaced the industry in the past one year. Given burgeoning demand for cruise travel, the addition of new ships to its fleet bodes well. In fact, the company believes that it is well positioned for continued earnings growth, given the current strength in its bookings along with pricing trends for the year. Notably, its brand building efforts together with other marketing activities are driving bookings. Its strategy of growing beyond familiar itineraries and capitalizing on fast growing markets also bodes well.  Cost containment efforts like lower fuel consumption are likely to aid profits.However, adverse forex translations, higher costs and other macroeconomic issues in key operating regions remain headwinds. Additionally, a potential increase in fuel costs might dent profits. Estimates for the current quarter and year has also remained stable, limiting the upside potential of the stock.”
  • 12/6/2017 – Carnival was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating. They now have a $68.00 price target on the stock, up previously from $65.94.
  • 11/28/2017 – Carnival was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Carnival shares have underperformed the industry over the past one year. Its earnings have been hurt by a strong dollar in the recent past. Earnings estimates have also remained stable over the past 30 days limiting the upside potential of the stock. Moreover, with a major portion of Carnival’s revenues coming from Asia and Europe, the company remains highly exposed to the impact of negative currency translation. Moreover, a potential increase in fuel costs might impact profitability. Nevertheless, brand-building efforts, new onboard product offerings coupled with various strategic initiatives are expected to drive onboard yield gains.Its strategy of growing beyond familiar itineraries and capitalizing on fast growing markets also bodes well. Still, geopolitical tension in certain key operating regionshas put pressure on Carnival’s top line. Higher costs may further pressurize near-term margins and earnings.”

Carnival Corporation (NYSE:CCL) opened at $65.18 on Friday. The stock has a market cap of $35,049.04, a price-to-earnings ratio of 16.95, a PEG ratio of 1.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.16 and a current ratio of 0.21. Carnival Corporation has a 1-year low of $50.77 and a 1-year high of $69.89.

Carnival (NYSE:CCL) last announced its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.09. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.39 billion. Carnival had a net margin of 15.53% and a return on equity of 12.15%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.92 earnings per share. research analysts predict that Carnival Corporation will post 3.7 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This is an increase from Carnival’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.76%. Carnival’s dividend payout ratio is 43.72%.

In related news, CEO Arnold W. Donald sold 90,903 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $67.41, for a total value of $6,127,771.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arnold W. Donald sold 5,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $65.57, for a total value of $327,850.00. The disclosure for this sale can be found here. Insiders have sold 100,903 shares of company stock valued at $6,782,771 over the last quarter. Company insiders own 23.80% of the company’s stock.

Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.

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