Morgan Stanley Upgrades Carnival (CCL) to “Equal Weight”

Carnival (NYSE:CCL) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday.

CCL has been the subject of a number of other research reports. Zacks Investment Research raised shares of Carnival from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Tuesday, August 22nd. UBS reissued a “buy” rating and issued a $76.00 price target (up previously from $67.00) on shares of Carnival in a research note on Thursday, August 17th. Stifel Nicolaus reissued a “buy” rating and issued a $79.00 price target (up previously from $74.00) on shares of Carnival in a research note on Wednesday, September 27th. Nomura reissued a “buy” rating and issued a $75.00 price target on shares of Carnival in a research note on Friday, September 29th. Finally, Instinet reissued a “buy” rating and issued a $75.00 price target on shares of Carnival in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $67.71.

Carnival (CCL) opened at $65.94 on Wednesday. The company has a market cap of $36,034.97, a P/E ratio of 17.42, a P/E/G ratio of 1.20 and a beta of 0.73. Carnival has a 12 month low of $50.77 and a 12 month high of $69.89. 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 (NYSE:CCL) last issued its quarterly earnings data on Tuesday, September 26th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.20 by $0.09. The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Carnival had a net margin of 15.53% and a return on equity of 12.15%. Carnival’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.92 earnings per share. equities analysts forecast that Carnival will post 3.7 EPS for the current year.

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

A number of hedge funds and other institutional investors have recently modified their holdings of CCL. ING Groep NV bought a new position in Carnival in the 2nd quarter worth $365,000. Bessemer Group Inc. grew its position in shares of Carnival by 109.4% in the 2nd quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock worth $171,000 after buying an additional 1,368 shares during the period. Candriam Luxembourg S.C.A. grew its position in shares of Carnival by 81.3% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 42,517 shares of the company’s stock worth $2,788,000 after buying an additional 19,068 shares during the period. IFP Advisors Inc grew its position in shares of Carnival by 35.8% in the 2nd quarter. IFP Advisors Inc now owns 10,185 shares of the company’s stock worth $668,000 after buying an additional 2,686 shares during the period. Finally, HL Financial Services LLC grew its position in shares of Carnival by 1.4% in the 2nd quarter. HL Financial Services LLC now owns 17,666 shares of the company’s stock worth $1,158,000 after buying an additional 238 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

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About Carnival

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.

Analyst Recommendations for Carnival (NYSE:CCL)

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