Carnival (NYSE:CCL) PT Lowered to $52.00 at Deutsche Bank

Carnival (NYSE:CCL) had its price objective reduced by Deutsche Bank from $54.00 to $52.00 in a report published on Friday morning, BenzingaRatingsTable reports. They currently have a hold rating on the stock.

Other research analysts have also issued reports about the stock. SunTrust Banks decreased their price target on shares of Carnival to $65.00 and set a buy rating for the company in a report on Friday, June 21st. ValuEngine raised shares of Zillow Group from a hold rating to a buy rating in a report on Thursday, July 11th. Berenberg Bank reaffirmed a buy rating and issued a GBX 100 ($1.31) price target on shares of in a report on Monday, July 1st. Nomura lifted their price target on shares of Voyager Therapeutics from $26.00 to $37.00 and gave the company a buy rating in a report on Thursday, June 20th. Finally, Wells Fargo & Co reduced their target price on shares of Carnival from $67.00 to $59.00 and set an outperform rating for the company in a research note on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $61.72.

NYSE CCL opened at $45.09 on Friday. Carnival has a one year low of $44.76 and a one year high of $67.69. The firm has a 50-day simple moving average of $48.66. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.27 and a quick ratio of 0.22. The firm has a market cap of $23.76 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 1.07 and a beta of 1.09.

Carnival (NYSE:CCL) last posted its quarterly earnings results on Thursday, June 20th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.05. Carnival had a net margin of 15.09% and a return on equity of 12.15%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same period in the previous year, the business posted $0.68 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts expect that Carnival will post 4.34 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Thursday, August 22nd. Carnival’s payout ratio is 46.95%.

In related news, Director Randall J. Weisenburger purchased 20,000 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were bought at an average cost of $46.50 per share, for a total transaction of $930,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Arnold W. Donald purchased 22,050 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were bought at an average price of $45.23 per share, for a total transaction of $997,321.50. The disclosure for this purchase can be found here. Insiders own 24.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Advisory Alpha LLC bought a new stake in shares of Carnival in the 1st quarter worth approximately $29,000. Sontag Advisory LLC bought a new stake in shares of Carnival in the 4th quarter worth approximately $35,000. Peddock Capital Advisors LLC bought a new stake in shares of Carnival in the 1st quarter worth approximately $35,000. Resources Investment Advisors Inc. raised its holdings in shares of Carnival by 823.5% in the 1st quarter. Resources Investment Advisors Inc. now owns 942 shares of the company’s stock worth $48,000 after purchasing an additional 840 shares in the last quarter. Finally, First Mercantile Trust Co. raised its holdings in shares of Carnival by 24.0% in the 1st quarter. First Mercantile Trust Co. now owns 1,240 shares of the company’s stock worth $63,000 after purchasing an additional 240 shares in the last quarter. Institutional investors own 74.89% of the company’s stock.

Carnival Company Profile

Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.

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Analyst Recommendations for Carnival (NYSE:CCL)

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