Carnival (CCL) Given New $78.00 Price Target at Stifel Nicolaus

Saturday, June 30 2018

Carnival (CCL) Given New $78.00 Price Target at Stifel Nicolaus

Posted by Tim Robinson on Jun 30th, 2018 // No Comments
Carnival (NYSE:CCL) had its price target cut by Stifel Nicolaus from $81.00 to $78.00 in a report released on Tuesday. They currently have a buy rating on the stock.
Several other research firms have also commented on CCL. Deutsche Bank boosted their price objective on Carnival from $70.00 to $71.00 and gave the stock a hold rating in a research note on Friday, March 23rd. Barclays upgraded Carnival from an equal weight rating to an overweight rating and set a $77.00 price objective for the company in a research note on Friday, March 23rd. JPMorgan Chase & Co. boosted their price objective on Carnival from $75.00 to $77.00 and gave the stock a neutral rating in a research note on Friday, March 23rd. Zacks Investment Research upgraded Carnival from a hold rating to a buy rating and set a $73.00 price objective for the company in a research note on Tuesday, May 22nd. Finally, Buckingham Research cut their price objective on Carnival from $84.00 to $83.00 and set a buy rating for the company in a research note on Friday, May 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Carnival currently has an average rating of Buy and a consensus price target of $75.01. Get Carnival alerts:
NYSE:CCL opened at $57.31 on Tuesday. Carnival has a 12 month low of $56.79 and a 12 month high of $72.70. The company has a quick ratio of 0.14, a current ratio of 0.24 and a debt-to-equity ratio of 0.34. The company has a market cap of $30.33 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 0.90 and a beta of 0.86. Carnival (NYSE:CCL) last posted its quarterly earnings data on Monday, June 25th. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.09. Carnival had a return on equity of 12.31% and a net margin of 15.40%. The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same period in the previous year, the business earned $0.52 EPS. Carnival’s quarterly revenue was up 10.4% on a year-over-year basis. equities research analysts forecast that Carnival will post 4.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, May 25th were given a $0.50 dividend. The ex-dividend date was Thursday, May 24th. This is a positive change from Carnival’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.49%. Carnival’s dividend payout ratio is 52.36%.
In related news, General Counsel Arnaldo Perez sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $64.01, for a total value of $448,070.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link . Also, CEO Arnold W. Donald sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $64.49, for a total value of $322,450.00. The disclosure for this sale can be found here . Insiders sold 22,000 shares of company stock worth $1,402,020 over the last quarter. 23.80% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Carnival by 5.5% in the first quarter. BlackRock Inc. now owns 31,448,549 shares of the company’s stock valued at $2,062,397,000 after acquiring an additional 1,644,059 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in Carnival by 15.6% in the first quarter. OppenheimerFunds Inc. now owns 9,178,493 shares of the company’s stock valued at $601,926,000 after acquiring an additional 1,236,840 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Carnival by 48.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,569,310 shares of the company’s stock valued at $170,525,000 after acquiring an additional 841,421 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Carnival by 8.8% in the fourth quarter. Alliancebernstein L.P. now owns 1,927,835 shares of the company’s stock valued at $127,950,000 after acquiring an additional 156,469 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Carnival by 1.6% in the first quarter. Wells Fargo & Company MN now owns 1,896,152 shares of the company’s stock valued at $124,349,000 after acquiring an additional 29,670 shares during the last quarter. Hedge funds and other institutional investors own 76.92% of the company’s stock.
About Carnival
Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia. Receive News & Ratings for Carnival analysts' ratings for Carnival and related companies daily email newsletter .