Carnival (NYSE:CCL) Cut to Underweight at Wells Fargo & Co

Wells Fargo & Co cut shares of Carnival (NYSE:CCL) from an overweight rating to an underweight rating in a report issued on Monday, 24/7 WallStreet reports. They currently have $6.00 target price on the stock, down from their previous target price of $55.00.

Several other research firms have also recently weighed in on CCL. TheStreet cut shares of Carnival from a b- rating to a c+ rating in a research report on Monday, February 24th. Nomura reiterated a hold rating and set a $45.00 price objective on shares of Carnival in a research report on Thursday, February 13th. Deutsche Bank lowered their price objective on shares of Carnival from $52.00 to $32.00 and set a hold rating on the stock in a research report on Friday, February 28th. Standpoint Research upgraded shares of Carnival from a hold rating to a buy rating in a research report on Monday, December 23rd. Finally, Stifel Nicolaus reiterated a buy rating and set a $54.00 price objective on shares of Carnival in a research report on Friday, December 6th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $43.53.

NYSE CCL traded up $2.27 on Monday, hitting $17.82. 97,342,341 shares of the stock were exchanged, compared to its average volume of 21,418,295. Carnival has a 52-week low of $7.90 and a 52-week high of $56.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.23 and a quick ratio of 0.18. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 4.13, a P/E/G ratio of 0.68 and a beta of 1.34. The company’s 50-day moving average price is $30.31 and its two-hundred day moving average price is $42.15.

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 21st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 11.22%. The ex-dividend date of this dividend was Thursday, February 20th. Carnival’s dividend payout ratio is currently 45.45%.

Institutional investors have recently bought and sold shares of the company. Alpha Windward LLC lifted its stake in shares of Carnival by 19.4% in the 4th quarter. Alpha Windward LLC now owns 1,425 shares of the company’s stock valued at $72,000 after purchasing an additional 232 shares during the last quarter. Simon Quick Advisors LLC lifted its stake in shares of Carnival by 33.3% in the 4th quarter. Simon Quick Advisors LLC now owns 933 shares of the company’s stock valued at $47,000 after purchasing an additional 233 shares during the last quarter. CSat Investment Advisory L.P. lifted its stake in shares of Carnival by 18.5% in the 4th quarter. CSat Investment Advisory L.P. now owns 1,497 shares of the company’s stock valued at $76,000 after purchasing an additional 234 shares during the last quarter. Independence Bank of Kentucky lifted its stake in shares of Carnival by 45.6% in the 4th quarter. Independence Bank of Kentucky now owns 750 shares of the company’s stock valued at $38,000 after purchasing an additional 235 shares during the last quarter. Finally, Busey Wealth Management lifted its stake in shares of Carnival by 2.4% in the 4th quarter. Busey Wealth Management now owns 10,617 shares of the company’s stock valued at $540,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 77.24% of the company’s stock.

About Carnival

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.

Further Reading: What does a bar chart mean for investors?

Analyst Recommendations for Carnival (NYSE:CCL)

Receive News & Ratings for Carnival Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival and related companies with MarketBeat.com's FREE daily email newsletter.