Rating Action: Is Bernstein Very Positive For Carnival (NYSE:CCL) After Its Upgrade?

November 23, 2016 - By Louis Casey

Rating Action:  Is Bernstein Very Positive For Carnival (NYSE:CCL) After Its Upgrade?

Carnival (NYSE:CCL) Upgrade

Carnival (NYSE:CCL)‘s rating was raised by investment analysts at Bernstein from a Mkt Perform rating to a Outperform rating in a an analyst report sent to investors on Wednesday, 23 November.

Carnival Corp (NYSE:CCL) Ratings Coverage

Out of 20 analysts covering Carnival Corporation (NYSE:CCL), 12 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 60% are positive. $64 is the highest target while $48 is the lowest. The $56.76 average target is 9.03% above today’s ($52.06) stock price. Carnival Corporation has been the topic of 35 analyst reports since August 6, 2015 according to StockzIntelligence Inc. As per Friday, September 9, the company rating was initiated by Bernstein. The firm has “Outperform” rating by Credit Suisse given on Wednesday, September 23. The rating was upgraded by Nomura to “Buy” on Wednesday, September 23. The stock of Carnival Corp (NYSE:CCL) has “Buy” rating given on Wednesday, November 25 by HSBC. The rating was initiated by Deutsche Bank with “Hold” on Thursday, September 29. On Monday, August 10 the stock rating was downgraded by Zacks to “Buy”. The firm earned “Buy” rating on Thursday, September 24 by Deutsche Bank. The rating was maintained by Numis Securities with “Add” on Wednesday, September 23. Sterne Agee CRT initiated it with “Buy” rating and $60 target price in Tuesday, June 7 report. The firm earned “Buy” rating on Monday, October 5 by Citigroup.

About 1.08 million shares traded hands. Carnival Corp (NYSE:CCL) has risen 5.27% since April 21, 2016 and is uptrending. It has underperformed by 0.06% the S&P500.

Insitutional Activity: The institutional sentiment decreased to 0.9 in Q2 2016. Its down 0.05, from 0.95 in 2016Q1. The ratio dropped, as 55 funds sold all Carnival Corp shares owned while 199 reduced positions. 53 funds bought stakes while 188 increased positions. They now own 409.94 million shares or 6.26% less from 437.31 million shares in 2016Q1.

Moreover, Blackrock Japan Communication Limited has 0.1% invested in Carnival Corp (NYSE:CCL) for 606,170 shares. Acadian Asset Ltd Liability Co holds 0% of its portfolio in Carnival Corp (NYSE:CCL) for 3,299 shares. Moreover, Ray Gerald L Associate has 0.09% invested in Carnival Corp (NYSE:CCL) for 13,400 shares. London Of Virginia has invested 1.96% of its portfolio in Carnival Corp (NYSE:CCL). Gateway Invest Advisers Ltd Liability Company accumulated 86,220 shares or 0.03% of the stock. Advsr Asset Inc last reported 16,306 shares in the company. Hbk Investments Limited Partnership accumulated 251,684 shares or 0.09% of the stock. Moreover, Bancorp Of Ny Mellon Corp has 0.09% invested in Carnival Corp (NYSE:CCL) for 6.85 million shares. Ladenburg Thalmann Inc reported 31,730 shares or 0.02% of all its holdings. Moreover, Korea has 0% invested in Carnival Corp (NYSE:CCL) for 14,400 shares. Cullen Frost Bankers Incorporated has 449,690 shares for 0.74% of their US portfolio. Fjarde Ap has 79,225 shares for 0.08% of their US portfolio. Tiaa Cref Mgmt Ltd Company last reported 0.07% of its portfolio in the stock. Stifel Financial Corp owns 623,382 shares or 0.13% of their US portfolio. Rfg Advisory Group Inc Ltd Liability Co reported 12,735 shares or 0.49% of all its holdings.

Insider Transactions: Since October 3, 2016, the stock had 0 buys, and 2 selling transactions for $4.48 million net activity. On Monday, October 3 Bernstein David sold $198,213 worth of the stock or 4,030 shares. DONALD ARNOLD W sold $4.29 million worth of Carnival Corp (NYSE:CCL) on Tuesday, October 18.

Carnival Corporation is a leisure travel company. The company has a market cap of $38.11 billion. The Firm is a cruise firm and provides vacations to cruise destinations throughout the world. It has a 15.95 P/E ratio. The Firm aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia divisions.

According to Zacks Investment Research, “Carnival Corporation & plc is the largest cruise company in the world, with a portfolio of 10 cruise brands in North America, Europe, Australia and Asia, comprised of Carnival Cruise Line, Holland America Line, Princess Cruises, Seabourn, AIDA Cruises, Costa Cruises, Cunard, P&O Cruises (Australia), P&O Cruises (UK) and Fathom.”

CCL Company Profile

Carnival Corporation, incorporated on November 21, 1974, is a leisure travel company. The Firm is a cruise firm and provides vacations to cruise destinations throughout the world. The Firm aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) divisions. The North America segment includes Carnival Cruise Line, Princess Cruises (Princess), Holland America Line and Seabourn cruise brands. The EAA segment includes Costa Cruises, AIDA Cruises, P&O Cruises (UK), P&O Cruises (Australia) and Cunard cruise brands. The Company’s Cruise Support segment includes its cruise port and related facilities located in Cozumel, Mexico; Grand Turk, Turks and Caicos Islands; Puerto Plata, Dominican Republic, and Roatan, Honduras. The Cruise Support segment also includes other services that are provided for the benefit of all its cruise brands. The Tour and Other segment includes Holland America Princess Alaska Tours, a tour firm in Alaska and the Canadian Yukon, and approximately three cruise ships, the former Costa Celebration, Costa Europa and Grand Holiday, which it owns and charters-out under long-term leases. The Company’s tour firm owns and operates approximately 10 hotels or lodges, over 300 motorcoaches and approximately 20 glass-domed railcars.

More recent Carnival Corp (NYSE:CCL) news were published by: Miamiherald.com which released: “Carnival Corp.’s Arnold Donald appointed chair of Cruise Lines International …” on November 14, 2016. Also Latimes.com published the news titled: “Carnival Corp. to screen cruise passengers through Interpol” on November 08, 2016. Streetinsider.com‘s news article titled: “Carnival Corp. (CCL) Plans Expansion of Fathom Brand” with publication date: November 02, 2016 was also an interesting one.

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