Carnival (NYSE:CCL) Cut to Sell at ValuEngine

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ValuEngine cut shares of Carnival (NYSE:CCL) from a hold rating to a sell rating in a research report report published on Friday, November 1st, ValuEngine reports.

Several other equities analysts have also commented on the company. SunTrust Banks reduced their price target on Carnival to $58.00 in a research report on Friday, September 27th. Nomura reduced their price target on Carnival from $52.00 to $47.00 and set a neutral rating on the stock in a research report on Friday, September 27th. HSBC lowered Carnival from a buy rating to a hold rating and reduced their price target for the stock from $68.00 to $43.00 in a research report on Monday, October 7th. Morgan Stanley reduced their price target on Carnival from $48.00 to $42.00 and set an equal weight rating on the stock in a research report on Friday, September 27th. Finally, Buckingham Research reduced their price target on Carnival from $52.00 to $45.00 and set a neutral rating on the stock in a research report on Wednesday, October 2nd. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $52.40.

Shares of NYSE:CCL remained flat at $$45.05 during midday trading on Friday. The stock had a trading volume of 2,686,600 shares, compared to its average volume of 4,154,623. The company has a market capitalization of $23.64 billion, a PE ratio of 10.58, a P/E/G ratio of 1.05 and a beta of 1.11. The firm has a fifty day simple moving average of $43.50 and a 200 day simple moving average of $47.49. Carnival has a fifty-two week low of $39.92 and a fifty-two week high of $62.52. The company has a current ratio of 0.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.35.

Carnival (NYSE:CCL) last posted its quarterly earnings data on Thursday, September 26th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $6.53 billion during the quarter, compared to analysts’ expectations of $6.18 billion. Carnival had a return on equity of 12.67% and a net margin of 14.93%. As a group, sell-side analysts anticipate that Carnival will post 4.27 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a $0.50 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.00 annualized dividend and a dividend yield of 4.44%. Carnival’s payout ratio is 46.95%.

In other news, Director Sir Jonathon Band sold 5,000 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $40.83, for a total value of $204,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 24.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Manchester Financial Inc. acquired a new stake in shares of Carnival in the second quarter valued at $26,000. Doyle Wealth Management acquired a new stake in shares of Carnival in the second quarter valued at $26,000. Lenox Wealth Advisors LLC purchased a new stake in shares of Carnival during the third quarter valued at $28,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of Carnival during the second quarter valued at $29,000. Finally, First Command Financial Services Inc. lifted its holdings in shares of Carnival by 74.8% during the third quarter. First Command Financial Services Inc. now owns 701 shares of the company’s stock valued at $31,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 75.20% 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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