Carnival (NYSE:CCL) Lowered to Sell at ValuEngine

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ValuEngine downgraded shares of Carnival (NYSE:CCL) from a hold rating to a sell rating in a research note published on Tuesday, October 16th.

Other analysts have also issued research reports about the company. Deutsche Bank lowered their target price on Carnival from $71.00 to $68.00 and set a hold rating for the company in a report on Tuesday, June 26th. Stifel Nicolaus lowered their target price on Carnival from $81.00 to $78.00 and set a buy rating for the company in a report on Tuesday, June 26th. SunTrust Banks decreased their price objective on Carnival to $79.00 and set a buy rating for the company in a report on Tuesday, June 26th. Barclays decreased their price objective on Carnival from $77.00 to $72.00 and set an overweight rating for the company in a report on Wednesday, June 27th. Finally, Argus lowered Carnival from a buy rating to a hold rating in a report on Friday, July 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $72.86.

Carnival stock traded up $0.42 during mid-day trading on Tuesday, reaching $58.54. 2,587,003 shares of the company were exchanged, compared to its average volume of 3,988,516. The company has a quick ratio of 0.17, a current ratio of 0.22 and a debt-to-equity ratio of 0.34. The firm has a market cap of $30.91 billion, a P/E ratio of 15.32, a P/E/G ratio of 0.99 and a beta of 1.01. Carnival has a 12-month low of $53.47 and a 12-month high of $72.70.

Carnival (NYSE:CCL) last posted its earnings results on Thursday, September 27th. The company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.04. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.80 billion. Carnival had a return on equity of 12.30% and a net margin of 17.15%. Carnival’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.29 earnings per share. Equities analysts expect that Carnival will post 4.25 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 23rd will be paid a $0.50 dividend. The ex-dividend date is Wednesday, November 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.42%. Carnival’s dividend payout ratio (DPR) is 52.36%.

In related news, General Counsel Arnaldo Perez sold 7,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $64.26, for a total value of $449,820.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of CCL. Moneta Group Investment Advisors LLC raised its stake in Carnival by 213.9% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 12,557 shares of the company’s stock worth $102,000 after acquiring an additional 8,557 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in Carnival in the 2nd quarter worth $124,000. Mainstay Capital Management LLC ADV raised its stake in Carnival by 1,262.1% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,320 shares of the company’s stock worth $125,000 after acquiring an additional 5,856 shares during the last quarter. Bessemer Group Inc. raised its stake in Carnival by 202.9% in the 3rd quarter. Bessemer Group Inc. now owns 2,096 shares of the company’s stock worth $134,000 after acquiring an additional 1,404 shares during the last quarter. Finally, Private Capital Group LLC grew its position in Carnival by 2,911.6% during the 1st quarter. Private Capital Group LLC now owns 2,078 shares of the company’s stock worth $136,000 after purchasing an additional 2,009 shares during the period. Institutional investors own 76.18% of the company’s stock.

About Carnival

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.

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Analyst Recommendations for Carnival (NYSE:CCL)

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