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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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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