Barclays upgrades Carnival Cruise to ‘overweight’

barclays Francesco Ceccato

Carnival (NYSE:CCL) was upgraded by investment analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Friday, Marketbeat.com reports. The firm currently has a $31.00 price target on the stock. Barclays‘s price objective indicates a potential upside of 105.71% from the stock’s current price.

A number of other analysts also recently issued reports on CCL. SunTrust Banks downgraded Carnival from a “hold” rating to a “sell” rating and set a $10.00 price objective for the company. in a research report on Tuesday, July 14th. Wells Fargo & Company raised their price objective on Carnival from $5.00 to $12.00 and gave the stock an “underweight” rating in a research report on Thursday, July 9th. Nomura reissued a “hold” rating and set a $16.00 price objective on shares of Carnival in a research report on Sunday, June 21st.

Macquarie cut Carnival from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $27.00 to $18.00 in a report on Tuesday, July 14th. Finally, HSBC cut Carnival from a “buy” rating to a “hold” rating and set a $15.30 target price for the company. in a report on Tuesday, July 21st. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Carnival currently has an average rating of “Hold” and a consensus price target of $20.24.

Shares of NYSE:CCL opened at $15.07 on Friday. The business has a 50-day moving average price of $15.98 and a 200 day moving average price of $15.49. The company has a current ratio of 0.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of -3.75 and a beta of 1.94. Carnival has a 12-month low of $7.80 and a 12-month high of $51.94.

Carnival (NYSE:CCL) last issued its quarterly earnings data on Friday, July 10th. The company reported ($3.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.79) by ($1.51). The business had revenue of $740.00 million for the quarter, compared to analyst estimates of $401.40 million. Carnival had a positive return on equity of 0.06% and a negative net margin of 17.53%. The firm’s revenue for the quarter was down 84.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 earnings per share. As a group, equities research analysts predict that Carnival will post -7.44 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in CCL.

Cambridge Investment Research Advisors Inc. raised its position in Carnival by 62.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 79,977 shares of the company’s stock worth $1,053,000 after purchasing an additional 30,623 shares during the last quarter. Commerce Bank boosted its holdings in shares of Carnival by 71.6% during the 1st quarter. Commerce Bank now owns 21,095 shares of the company’s stock valued at $278,000 after acquiring an additional 8,802 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Carnival by 34.1% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 20,862 shares of the company’s stock valued at $275,000 after acquiring an additional 5,302 shares during the last quarter.

Blair William & Co. IL boosted its holdings in shares of Carnival by 33.2% during the 1st quarter. Blair William & Co. IL now owns 11,629 shares of the company’s stock valued at $153,000 after acquiring an additional 2,901 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Carnival by 5.2% during the 1st quarter. State Street Corp now owns 18,875,172 shares of the company’s stock valued at $248,586,000 after acquiring an additional 927,732 shares during the last quarter. Institutional investors and hedge funds own 64.07% 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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