Carnival Corp (CCL) is Downgraded by Morgan Stanley to Underweight

Carnival Corp (CCL) was Downgraded by Morgan Stanley to ” Underweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Sep 2, 2016.

Many Wall Street Analysts have commented on Carnival Corp. Sterne Agee CRT Initiated Carnival Corp on Jun 7, 2016 to “Buy”, Price Target of the shares are set at $60.

On the company’s financial health, Carnival Corp reported $0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jun 28, 2016. Analyst had a consensus of $0.39. The company had revenue of $3705.00 million for the quarter, compared to analysts expectations of $3675.04 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

Carnival Corp opened for trading at $48.05 and hit $48.7 on the upside on Thursday, eventually ending the session at $48.7, with a gain of 1.88% or 0.9 points. The heightened volatility saw the trading volume jump to 41,18,454 shares. Company has a market cap of $37,370 M.

In a different news, on Apr 5, 2016, Richard Glasier (director) sold 10,000 shares at $52.43 per share price. According to the SEC, on Mar 9, 2016, Arnold W Donald (President & CEO) sold 23,281 shares at $42.99 per share price. On Feb 25, 2016, David Bernstein (Chief Financial Officer) sold 6,214 shares at $48.11 per share price, according to the Form-4 filing with the securities and exchange commission.

Carnival Corporation is a cruise vacation company. The Company has three cruise segments that consist of North America cruise brands Europe Australia & Asia (EAA) cruise brands and Cruise Support. In addition it also has a Tour and Other segment. The Company offers its services under nine cruise brands. Its North America segment cruise brands include Carnival Cruise Lines Holland America Line Princess Cruises (Princess) and Seabourn. Its EAA segment cruise brands include AIDA Cruises (AIDA) Costa Cruises (Costa) Cunard P&O Cruises (Australia) and P&O Cruises (United Kingdom). Its Cruise Support segment includes its cruise port and related facilities located in Cozumel Mexico; Grand Turk Turks and Caicos Islands Roatan Honduras and Puerto Plata Dominican Republic. In addition to its cruise operations it owns Holland America Princess Alaska Tours a tour company in Alaska and the Canadian Yukon.

Carnival Corp

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