Carnival (CCL) Price Target Cut to $69.00 by Analysts at Citigroup

Carnival (NYSE:CCL) had its target price decreased by Citigroup from $79.00 to $69.00 in a research report report published on Wednesday. Citigroup currently has a buy rating on the stock.

Several other brokerages have also commented on CCL. ValuEngine lowered shares of Carnival from a hold rating to a sell rating in a research note on Wednesday, June 6th. Credit Suisse Group set a $84.00 price target on shares of Carnival and gave the company a buy rating in a research note on Wednesday, April 11th. Deutsche Bank dropped their price target on shares of Carnival from $71.00 to $68.00 and set a hold rating on the stock in a research note on Tuesday, June 26th. SunTrust Banks dropped their price target on shares of Carnival to $79.00 and set a buy rating on the stock in a research note on Tuesday, June 26th. Finally, Buckingham Research dropped their price target on shares of Carnival from $84.00 to $83.00 and set a buy rating on the stock in a research note on Friday, May 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Carnival currently has an average rating of Buy and a consensus price target of $74.53.

NYSE:CCL traded up $0.26 during mid-day trading on Wednesday, hitting $59.60. The stock had a trading volume of 4,521,895 shares, compared to its average volume of 3,185,577. The stock has a market cap of $31.49 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 0.93 and a beta of 0.86. Carnival has a twelve month low of $56.45 and a twelve month high of $72.70. The company has a quick ratio of 0.20, a current ratio of 0.24 and a debt-to-equity ratio of 0.34.

Carnival (NYSE:CCL) last issued its earnings results on Monday, June 25th. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.09. The firm had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Carnival had a net margin of 15.40% and a return on equity of 12.31%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 earnings per share. equities analysts anticipate that Carnival will post 4.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.36%. Carnival’s dividend payout ratio (DPR) is presently 52.36%.

In other news, CEO Arnold W. Donald sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $62.91, for a total transaction of $314,550.00. Following the transaction, the chief executive officer now directly owns 132,648 shares in the company, valued at $8,344,885.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 23.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CCL. Fort Washington Investment Advisors Inc. OH grew its position in shares of Carnival by 1.2% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 1,594,204 shares of the company’s stock worth $104,548,000 after acquiring an additional 19,424 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Carnival during the first quarter worth approximately $5,332,000. Wells Fargo & Company MN grew its position in shares of Carnival by 1.6% during the first quarter. Wells Fargo & Company MN now owns 1,896,152 shares of the company’s stock worth $124,349,000 after acquiring an additional 29,670 shares during the last quarter. Tower Bridge Advisors grew its position in shares of Carnival by 0.5% during the first quarter. Tower Bridge Advisors now owns 273,934 shares of the company’s stock worth $17,965,000 after acquiring an additional 1,467 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Carnival by 5.1% during the first quarter. Daiwa Securities Group Inc. now owns 22,527 shares of the company’s stock worth $1,477,000 after acquiring an additional 1,098 shares during the last quarter. Institutional investors and hedge funds own 78.09% 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.

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Analyst Recommendations for Carnival (NYSE:CCL)

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