Carnival Corporation’s (CCL) Buy Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of Carnival Corporation (NYSE:CCL) in a report released on Friday, June 16th. Stifel Nicolaus currently has a $68.00 price target on the stock.

A number of other research firms have also recently issued reports on CCL. Zacks Investment Research upgraded shares of Carnival Corporation from a sell rating to a hold rating in a report on Friday, March 10th. Wedbush upped their price objective on shares of Carnival Corporation from $54.00 to $61.00 and gave the company a neutral rating in a research report on Wednesday, March 29th. Wells Fargo & Company raised shares of Carnival Corporation from a market perform rating to an outperform rating in a research report on Tuesday, March 21st. Wolfe Research raised shares of Carnival Corporation from a market perform rating to an outperform rating in a research report on Thursday, May 25th. Finally, William Blair raised shares of Carnival Corporation from a market perform rating to an outperform rating in a research report on Monday, March 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company. Carnival Corporation currently has a consensus rating of Buy and an average target price of $61.07.

Shares of Carnival Corporation (NYSE CCL) traded down 0.63% during midday trading on Friday, reaching $65.75. The company had a trading volume of 1,950,316 shares. The company has a market capitalization of $47.60 billion, a P/E ratio of 17.39 and a beta of 0.75. Carnival Corporation has a 52 week low of $43.06 and a 52 week high of $67.30. The company’s 50 day moving average price is $63.89 and its 200-day moving average price is $58.40.

Carnival Corporation (NYSE:CCL) last posted its quarterly earnings results on Thursday, June 22nd. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. Carnival Corporation’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. On average, equities research analysts predict that Carnival Corporation will post $3.74 earnings per share for the current fiscal year.

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In other Carnival Corporation news, Director Sir John Parker sold 19,965 shares of the business’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $60.98, for a total value of $1,217,465.70. Following the completion of the sale, the director now owns 22,798 shares of the company’s stock, valued at approximately $1,390,222.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 23.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Cleararc Capital Inc. increased its stake in Carnival Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 10,237 shares of the company’s stock worth $603,000 after buying an additional 63 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Carnival Corporation by 1.7% in the first quarter. Blair William & Co. IL now owns 4,214 shares of the company’s stock valued at $241,000 after buying an additional 72 shares during the last quarter. Private Wealth Partners LLC boosted its position in shares of Carnival Corporation by 0.6% in the first quarter. Private Wealth Partners LLC now owns 15,650 shares of the company’s stock valued at $922,000 after buying an additional 100 shares during the last quarter. Norinchukin Bank The boosted its position in shares of Carnival Corporation by 0.3% in the first quarter. Norinchukin Bank The now owns 57,951 shares of the company’s stock valued at $3,414,000 after buying an additional 147 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Carnival Corporation by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 53,337 shares of the company’s stock valued at $3,140,000 after buying an additional 189 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Carnival Corporation Company Profile

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.

Analyst Recommendations for Carnival Corporation (NYSE:CCL)

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