Carnival Corp (CCL) Receives $74.57 Average Target Price from Analysts

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Carnival Corp (NYSE:CCL) has earned an average rating of “Buy” from the nineteen analysts that are presently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $74.50.

CCL has been the subject of a number of analyst reports. ValuEngine downgraded shares of Carnival from a “hold” rating to a “sell” rating in a research report on Wednesday, June 6th. Deutsche Bank decreased their price objective on shares of Carnival from $71.00 to $68.00 and set a “hold” rating for the company in a research report on Tuesday, June 26th. Citigroup decreased their price objective on shares of Carnival from $79.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, August 8th. SunTrust Banks decreased their price objective on shares of Carnival to $79.00 and set a “buy” rating for the company in a research report on Tuesday, June 26th. Finally, Credit Suisse Group set a $75.00 price objective on shares of Carnival and gave the stock a “buy” rating in a research report on Thursday, September 13th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CNB Bank raised its position in shares of Carnival by 448.6% during the 1st quarter. CNB Bank now owns 1,942 shares of the company’s stock worth $127,000 after purchasing an additional 1,588 shares during the last quarter. Private Capital Group LLC raised its position in shares of 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 last quarter. Flagship Harbor Advisors LLC acquired a new stake in Carnival in the 2nd quarter valued at about $124,000. Jump Trading LLC purchased a new stake in shares of Carnival in the 1st quarter valued at approximately $218,000. Finally, Hilltop Holdings Inc. purchased a new stake in shares of Carnival in the 1st quarter valued at approximately $226,000. Hedge funds and other institutional investors own 75.61% of the company’s stock.

NYSE:CCL traded down $0.02 during mid-day trading on Friday, hitting $66.79. The company’s stock had a trading volume of 38,470 shares, compared to its average volume of 3,297,662. Carnival has a 1 year low of $56.45 and a 1 year high of $72.70. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.20 and a current ratio of 0.24. The firm has a market cap of $35.64 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.06 and a beta of 0.87.

The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 24th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, August 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.99%. Carnival’s dividend payout ratio (DPR) is presently 52.36%.

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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