Carnival (CCL) Receives “Buy” Rating from SunTrust Banks

Carnival (NYSE:CCL)‘s stock had its “buy” rating reiterated by SunTrust Banks in a research report issued to clients and investors on Tuesday, December 19th, The Fly reports. They presently have a $84.00 price target on the stock, up from their previous price target of $72.00. SunTrust Banks’ target price indicates a potential upside of 20.53% from the stock’s current price. SunTrust Banks also issued estimates for Carnival’s Q1 2018 earnings at $0.41 EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $2.63 EPS, Q4 2018 earnings at $0.81 EPS, Q1 2019 earnings at $0.52 EPS, Q2 2019 earnings at $0.52 EPS, Q3 2019 earnings at $2.93 EPS, Q4 2019 earnings at $0.97 EPS and FY2019 earnings at $4.94 EPS. The analysts noted that the move was a valuation call.

CCL has been the subject of several other reports. Zacks Investment Research lowered shares of Carnival from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Credit Suisse Group downgraded shares of Carnival from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $78.00 to $70.00 in a report on Friday, September 15th. Instinet reiterated a “buy” rating and issued a $75.00 price target on shares of Carnival in a report on Monday, October 2nd. Susquehanna Bancshares increased their price target on shares of Carnival from $75.00 to $76.00 and gave the stock a “positive” rating in a report on Monday, September 25th. Finally, Nomura reiterated a “buy” rating and issued a $75.00 price target on shares of Carnival in a report on Friday, September 29th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $72.78.

Shares of Carnival (CCL) traded up $0.89 during trading on Tuesday, hitting $69.69. 3,240,000 shares of the company traded hands, compared to its average volume of 3,170,000. The stock has a market cap of $49,900.00, a price-to-earnings ratio of 19.41, a P/E/G ratio of 1.18 and a beta of 0.73. The company has a quick ratio of 0.14, a current ratio of 0.18 and a debt-to-equity ratio of 0.29. Carnival has a 52-week low of $52.65 and a 52-week high of $69.89.

Carnival (NYSE:CCL) last announced its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.12. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. Carnival had a net margin of 14.88% and a return on equity of 11.78%. Carnival’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. analysts anticipate that Carnival will post 4.25 EPS for the current year.

In other news, CEO Arnold W. Donald sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $68.00, for a total transaction of $204,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David Bernstein sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $66.50, for a total transaction of $731,500.00. Following the sale, the chief financial officer now directly owns 30,443 shares in the company, valued at approximately $2,024,459.50. The disclosure for this sale can be found here. Insiders have sold a total of 354,545 shares of company stock worth $23,694,789 in the last ninety days. Corporate insiders own 23.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Bristol Advisors LLC grew its stake in Carnival by 110.8% in the 4th quarter. Bristol Advisors LLC now owns 7,800 shares of the company’s stock valued at $518,000 after acquiring an additional 4,100 shares during the period. Appleton Partners Inc. MA grew its stake in Carnival by 7.8% in the 4th quarter. Appleton Partners Inc. MA now owns 70,895 shares of the company’s stock valued at $4,705,000 after acquiring an additional 5,160 shares during the period. First Citizens Bank & Trust Co. grew its stake in Carnival by 7.5% in the 4th quarter. First Citizens Bank & Trust Co. now owns 52,159 shares of the company’s stock valued at $3,462,000 after acquiring an additional 3,642 shares during the period. Sit Investment Associates Inc. acquired a new stake in Carnival in the 4th quarter valued at $14,100,000. Finally, New England Research & Management Inc. grew its stake in Carnival by 26.1% in the 4th quarter. New England Research & Management Inc. now owns 30,950 shares of the company’s stock valued at $2,054,000 after acquiring an additional 6,400 shares during the period. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

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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.

The Fly

Analyst Recommendations for Carnival (NYSE:CCL)

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