Barclays Lowers Carnival (CCL) Price Target to $72.00

Carnival (NYSE:CCL) had its target price decreased by stock analysts at Barclays from $77.00 to $72.00 in a report released on Wednesday. The brokerage currently has an “overweight” rating on the stock. Barclays’ price target would indicate a potential upside of 25.96% from the stock’s previous close.

Several other brokerages also recently weighed in on CCL. Deutsche Bank upped their target price on Carnival from $70.00 to $71.00 and gave the stock a “hold” rating in a research note on Friday, March 23rd. Berenberg Bank raised Carnival from a “hold” rating to a “buy” rating in a research note on Wednesday. Stifel Nicolaus upped their target price on Carnival from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, June 19th. Credit Suisse Group set a $84.00 target price on Carnival and gave the stock a “buy” rating in a research note on Wednesday, April 11th. Finally, Zacks Investment Research downgraded Carnival from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $75.01.

Shares of Carnival opened at $57.16 on Wednesday, MarketBeat Ratings reports. Carnival has a 12-month low of $56.79 and a 12-month high of $72.70. The company has a market capitalization of $30.81 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 0.91 and a beta of 0.86. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.24 and a quick ratio of 0.14.

Carnival (NYSE:CCL) last announced its quarterly earnings results on Monday, June 25th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ 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 the consensus estimate of $4.32 billion. During the same period in the previous year, the company posted $0.52 earnings per share. Carnival’s revenue for the quarter was up 10.4% on a year-over-year basis. sell-side analysts anticipate that Carnival will post 4.24 EPS for the current year.

In other Carnival news, CEO Arnold W. Donald sold 5,000 shares of the company’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $64.49, for a total value of $322,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Arnaldo Perez sold 7,000 shares of the company’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $64.01, for a total value of $448,070.00. The disclosure for this sale can be found here. Insiders have sold 22,000 shares of company stock valued at $1,402,020 over the last quarter. 23.80% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of CCL. CNB Bank grew its holdings in Carnival by 448.6% in the 1st quarter. CNB Bank now owns 1,942 shares of the company’s stock valued at $127,000 after buying an additional 1,588 shares in the last quarter. Focused Wealth Management Inc purchased a new stake in Carnival in the 4th quarter valued at $133,000. Private Capital Group LLC grew its holdings in Carnival by 2,911.6% in the 1st quarter. Private Capital Group LLC now owns 2,078 shares of the company’s stock valued at $136,000 after buying an additional 2,009 shares in the last quarter. Avestar Capital LLC purchased a new stake in Carnival in the 4th quarter valued at $148,000. Finally, Delpha Capital Management LLC purchased a new stake in Carnival in the 4th quarter valued at $173,000. Institutional investors own 76.92% of the company’s stock.

Carnival Company Profile

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.

Analyst Recommendations for Carnival (NYSE:CCL)

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