Carnival (CCL) Gets a Hold Rating from Berenberg Bank

In a report issued on June 28, Stuart Gordon from Berenberg Bank maintained a Hold rating on Carnival (CCLResearch Report), with a price target of $10.00. The company’s shares closed last Wednesday at $8.87, close to its 52-week low of $8.70.

Gordon has an average return of 3.3% when recommending Carnival.

According to TipRanks.com, Gordon is ranked #615 out of 7908 analysts.

Currently, the analyst consensus on Carnival is a Hold with an average price target of $15.19, implying a 60.1% upside from current levels. In a report issued on June 24, Deutsche Bank also maintained a Hold rating on the stock with a $14.00 price target.

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Based on Carnival’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $2.4 billion and GAAP net loss of $1.83 billion. In comparison, last year the company earned revenue of $49 million and had a GAAP net loss of $2.07 billion.

Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CCL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America, Europe, Australia, and Asia (EEA), Cruise Support, and Tour and Other. The North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn. The Europe, Australia, and Asia (EEA) segment comprises of AIDA, Costa, Cunard, P&O Cruises (Australia), P&O Cruises (UK). The Cruise Support segment represents port destinations and private islands for the benefit of its cruise brands. The Tour and Other segment operates hotel and transportation operations of Holland America Princess Alaska Tours. The company was founded in 1972 and is headquartered in Miami, FL.

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