Today’s Rating Alert: Is Carnival Corporation (NYSE:CCL) a Buy? Bernstein Upgrades It

November 23, 2016 - By Vivian Park

Today's Rating Alert:  Is Carnival Corporation (NYSE:CCL) a Buy? Bernstein Upgrades It

Carnival Corporation (NYSE:CCL) Upgrade

New York-listed Carnival Corporation (NYSE:CCL), was upped by analysts at Bernstein. The firm upped its rating on the $38.31 billion market cap company to a Outperform from a previous Mkt Perform.

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 8.44% above today’s ($52.34) stock price. Carnival Corporation has been the topic of 35 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of Carnival Corp (NYSE:CCL) has “Buy” rating given on Thursday, March 31 by SunTrust. Goldman Sachs maintained Carnival Corp (NYSE:CCL) rating on Wednesday, June 29. Goldman Sachs has “Neutral” rating and $52 price target. The company was upgraded on Wednesday, September 23 by Nomura. The rating was initiated by Bernstein on Friday, September 9 with “Outperform”. HSBC initiated Carnival Corp (NYSE:CCL) rating on Monday, October 3. HSBC has “Buy” rating and $60 price target. The stock of Carnival Corp (NYSE:CCL) earned “Buy” rating by Stifel Nicolaus on Monday, December 21. The stock of Carnival Corp (NYSE:CCL) has “Add” rating given on Wednesday, September 23 by Numis Securities. As per Monday, October 5, the company rating was maintained by Citigroup. The stock of Carnival Corp (NYSE:CCL) earned “Neutral” rating by JP Morgan on Thursday, March 31. The stock has “Buy” rating given by HSBC on Wednesday, November 25.

About 2.31M 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 2016 Q2. Its down 0.05, from 0.95 in 2016Q1. The ratio fall, 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.

Chicago Equity Lc, a Illinois-based fund reported 118,130 shares. Architects Inc, a New Jersey-based fund reported 900 shares. M&T Bankshares Corp has 0.03% invested in the company for 115,411 shares. Voya Inv Mgmt Ltd Liability Corporation holds 0.03% or 263,323 shares in its portfolio. Huntington Comml Bank, a Ohio-based fund reported 28,196 shares. Private Wealth Lc owns 26,750 shares or 0.28% of their US portfolio. Global X Mgmt Co Ltd Llc last reported 1,596 shares in the company. New Jersey Better Educational Savings Trust accumulated 13,000 shares or 0.39% of the stock. Qci Asset Mgmt, a New York-based fund reported 100 shares. Credit Agricole S A reported 179,288 shares or 0.03% of all its holdings. Paragon Cap Mgmt holds 7,100 shares or 0.17% of its portfolio. Deltec Asset Mngmt Ltd Llc accumulated 49,000 shares or 0.54% of the stock. Cqs Cayman Lp accumulated 2.13% or 547,815 shares. Thrivent Fincl For Lutherans accumulated 0% or 13,260 shares. Lord Abbett Co Ltd Liability Corp last reported 0.02% of its portfolio in the stock.

Insider Transactions: Since October 3, 2016, the stock had 0 insider purchases, and 2 insider sales for $4.48 million net activity. Shares for $198,213 were sold by Bernstein David. The insider DONALD ARNOLD W sold $4.29M.

Carnival Corporation is a leisure travel company. The company has a market cap of $38.31 billion. The Firm is a cruise firm and provides vacations to cruise destinations throughout the world. It has a 16.04 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 notable 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 with their article: “Carnival Corp. to screen cruise passengers through Interpol” published on November 08, 2016, Fool.com published: “Carnival Corporation Stock Upgraded: Is It Time to Buy a Cruise Ship Stock?” on November 23, 2016. More interesting news about Carnival Corp (NYSE:CCL) were released by: Prnewswire.com and their article: “Carnival Corporation to Expand the Fathom Experience to Additional Company …” published on November 02, 2016 as well as Prnewswire.com‘s news article titled: “Carnival Corporation to Partner with INTERPOL for Enhanced Security Screening” with publication date: November 08, 2016.

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