Stifel Nicolaus reissued their buy rating on shares of Carnival Corp. (NYSE:CCL) in a research report released on Friday morning, Analyst RN reports. Stifel Nicolaus currently has a $41.00 price objective on the stock, down from their previous price objective of $42.00.
“When CCL last reported results on September 24, 2013 (F3Q13 release) shares were treated to an unwelcome response from investors, closing 8% below the prior day’s close. Although F3Q13 results came in ahead of the Street’s expectations, most investors focused their attention on management’s preliminary FY14 commentary, which established the expectation for F1H14 yields to be down in a similar range to those forecasted for F2H13. At the time, management attributed the majority of its softer than anticipated F1H14 outlook to Carnival-brand specific issues. Many sell-side analysts, including ourselves, cautioned investors from reading too much into the preliminary outlook, as we suspected a gradual improvement in Carnival-branded booking activity over the ensuing three months would lead to management’s formal FY14 guidance coming in ahead of its previously established expectations.,” the firm’s analyst wrote.
Other equities research analysts have also recently issued reports about the stock. Analysts at S&P Equity Research upgraded shares of Carnival Corp. from a buy rating to a strong-buy rating in a research note to investors on Friday, November 1st. Separately, analysts at Thomson Reuters/Verus downgraded shares of Carnival Corp. from a hold rating to a sell rating in a research note to investors on Monday, October 28th. Finally, analysts at Credit Suisse cut their price target on shares of Carnival Corp. from $33.00 to $30.00 in a research note to investors on Monday, October 14th. They now have a neutral rating on the stock. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $156.82.
Carnival Corp. (NYSE:CCL) traded up 0.44% during mid-day trading on Friday, hitting $35.495. The stock had a trading volume of 1,205,114 shares. Carnival Corp. has a one year low of $31.44 and a one year high of $39.95. The stock’s 50-day moving average is $35.36 and its 200-day moving average is $35.09. The company has a market cap of $27.544 billion and a P/E ratio of 24.90.
Carnival Corp. (NYSE:CCL) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.08. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts predict that Carnival Corp. will post $1.55 earnings per share for the current fiscal year.
Carnival Corporation is a cruise company. The Company operates in two segments: North America and Europe, Australia & Asia (NYSE:CCL).
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