Carnival (CCL) (CME) (HDY) (HTLF) (NYX) Ratings, Price Targets

Carnival Co. (NYSE: CCL), CME Group Inc. (NYSE: CME), Hyperdynamics (NYSE: HDY), Heartland Financial USA, Inc. (NASDAQ: HTLF) and NYSE Euronext (NYSE: NYX) ratings and price targets.

Carnival Co. (CCL) was downgraded by Barclays Capital (NYSE:BCS) from an “Overweight” rating to an “Equal Weight” rating.

CME Group Inc. (CME) was downgraded by ISI Group from a “Buy” rating to a “Hold” rating.

Hyperdynamics (HDY) was downgraded by Howard Weil from an “Outperform” rating to a “Market Perform” rating. They have a price target of $4.00 on the company, down from $11.00.

Heartland Financial USA, Inc. (HTLF) was downgraded by Sandler O’Neill from a “Buy” rating to a “Hold” rating.

NYSE Euronext (NYX) was upgraded by RBC Capital to a “Buy” rating.

Carnival (CCL) (VZ) (XLS) (ANSS) (CNC) (COLM) Get New Coverage

Carnival Co. (NYSE: CCL), Verizon (NYSE: VZ), Exelis Inc. (NYSE: XLS), ANSYS (NASDAQ: ANSS), Centene Co. (NYSE: CNC) and Columbia Sportswear (NASDAQ: COLM) getting new coverage from analysts.

HSBC (NYSE:HBC) initiated coverage on Carnival Co. (CCL). They placed a “Neutral” rating and a price target of $34.00 on the company.

Jefferies (NYSE:JEF) initiated coverage on Verizon (VZ). They placed a “buy” rating on the company.

JPMorgan Chase & Co. (NYSE:JPM) initiated coverage on Exelis Inc. (XLS). They placed a “Neutral” rating on the company.

Goldman Sachs (NYSE:GS) initiated coverage on ANSYS (ANSS). They placed a “Neutral” rating and a price target of $66.00 on the company.

Raymond James (NYSE:RJF) initiated coverage on Centene Co. (CNC). They placed an “Outperform” rating on the company.

Auriga initiated coverage on Columbia Sportswear (COLM). They placed a “Hold” rating on the company.

Carnival (CCL) (MOV) (PNNT) (RRC) (VGR) (VZ) Declare Dividends

Dividends declared by Carnival Corp. (NYSE:CCL), Movado Group (NYSE:MOV), PennantPark Intv Corp. (NASDAQ:PNNT), Range Resources Corp. (NYSE:RRC), Vector Group LTD (NYSE:VGR) and Verizon Communications (NYSE:VZ).

The Board of Directors of Carnival Corp. (CCL) declared a quarterly common stock dividend of $0.25 per share payable 9/16/11 to shareholders of record at the close of business on 8/26/11.

The Board of Directors of Movado Group (MOV) declared a quarterly common stock dividend of $0.03 per share payable 9/26/11 to shareholders of record at the close of business on 9/12/11.

The Board of Directors of PennantPark Intv Corp. (PNNT) declared a fourth quarter common stock dividend of $0.27 per share payable 10/3/11 to shareholders of record at the close of business on 9/23/11.

The Board of Directors of Range Resources Corp. (RRC) declared a quarterly common stock dividend of $0.04 per share payable 9/30/11 to shareholders of record at the close of business on 9/15/11.

The Board of Directors of Vector Group LTD (VGR) declared a quarterly common stock dividend of $0.40 per share payable 9/29/11 to shareholders of record at the close of business on 9/20/11.

The Board of Directors of Verizon Communications (VZ) declared a quarterly common stock dividend of $0.50 per share payable 11/1/11 to shareholders of record at the close of business on 10/7/11.

Carnival (CCL) (CIS) (CXW) (DNB) (EFX) Price Targets Changed

Carnival Co. (NYSE: CCL), Camelot Information Systems Inc (NYSE: CIS), Corrections Co. of America (NYSE: CXW), Dun & Bradstreet (NYSE: DNB) and Equifax (NYSE: EFX) price targets adjusted by analysts.

Carnival Co. (CCL) had its price target lowered by Barclays Capital from $47.00 to $44.00. They have an “Overweight” rating on the company.

Camelot Information Systems Inc. (CIS) had its price target lowered by Barclays Capital from $21.00 to $15.00. They have an “Overweight” rating on the company.

Corrections Co. of America (CXW) had its price target lowered by Barclays Capital from $28.00 to $25.00. They have an “Equal Weight” rating on the company.

Dun & Bradstreet (DNB) had its price target lowered by Barclays Capital from $96.00 to $80.00. They have an “Overweight” rating on the company.

Equifax (EFX) had its price target lowered by Barclays Capital from $40.00 to $33.00. They have an “Equal Weight” rating on the company.

CF (CF) (WPO) (WTW) (XIDE) (BRCD) (CCL) Price Targets Changed

CF Industries Holdings Inc (NYSE: CF), Washington Post Co (NYSE: WPO), Weight Watchers International, Inc. (NYSE: WTW), Exide Technologies (NASDAQ: XIDE), Brocade Communications Systems, Inc. (NASDAQ: BRCD) and Carnival Co. (NYSE: CCL) price targets adjusted by analysts.

Washington Post Co. (WPO) had its price target lowered by analysts at UBS AG (NYSE:UBS) to $420.00. They have a “Neutral” rating on the company.

Weight Watchers International, Inc. (WTW) had its price target lowered by Wedbush from $88.00 to $79.00. They have an “Outperform” rating on the company.

Exide Technologies (XIDE) had its price target lowered by Ardour Capital from $10.00 to $6.25. They have an “Accumulate” rating on the company.

Brocade Communications Systems, Inc. (BRCD) had its price target lowered by UBS AG from $7.00 to $3.75. They have a “Neutral” rating on the company.

Carnival Co. (CCL) had its price target lowered by Goldman Sachs (NYSE:GS) to $36.00. They have a “Buy” rating on the company.

CF Industries Holdings Inc. (CF) had its price target raised by Ticonderoga from $185.00 to $200.00. They have a “Buy” rating on the company.

Microsoft (MSFT) (BKS) (CUK) (GIS) (ODP) Ratings Reiterated

Barnes & Noble Inc (NYSE: BKS), Carnival (NYSE: CUK), General Mills (NYSE: GIS), Microsoft Corp. (NASDAQ: MSFT) and Office Depot, Inc. (NYSE: ODP) had ratings reiterated on them.

Duncan Williams maintains a "Buy" rating on Barnes & Noble Inc (BKS). They have a price target of $61.50 on the company.

Citigroup (NYSE:C) reiterated a "Buy" rating on Carnival (CUK).

Deutsche Bank (NYSE:DB) reiterated a "Buy" rating on General Mills (GIS).

Morgan Stanley (NYSE:MS) maintains an "Overweight" rating on Microsoft (MSFT).

Goldman Sachs (NYSE:GS) reiterated a "Neutral" rating on Office Depot, Inc. (ODP).

Barnes & Noble closed Thursday at $17.38, falling $0.15, or 0.86 percent. Carnival closed at $35.97, down $0.71, or 1.94 percent. General Mills ended the day at $37.36, gaining $0.48, or 1.30 percent. Microsoft closed at $26.47, dropping $0.16, or 0.60 percent. Office Depot closed at $3.75, declining $0.21, or 5.30 percent.

Ex-Dividend for (BRCM) (CCL) (CEM) (CUK) (DMO) is May 18

The ex-dividend date for Broadcom Corporation (NASDAQ:BRCM), Carnival Corporation (NYSE:CCL), ClearBridge Energy MLP (NYSE:CEM), Carnival PLC (NYSE:CUK) and Western Asset Mortgage Defined (NYSE:DMO) is May 18.

Broadcom Corporation (BRCM) pays a dividend of $0.09 with a yield of 1.05 percent.

Carnival Corporation (CCL) pays a dividend of $0.25 with a yield of 2.49 percent.

ClearBridge Energy MLP (CEM) pays a dividend of $0.36 with a yield of 6.29 percent.

Carnival PLC (CUK) pays a dividend of $0.25 with a yield of 1.66 percent.

Western Asset Mortgage Defined (DMO) pays a dividend of $0.14 with a ield of 7.58 percent.

Biggest Losers (HP) (CCL) (IRBT) (HMC) (IPXL) on May 6

Among the big, negative movers on Friday, May 6, were Helmerich & Payne (HP), Carnival Corp. (CCL), IRobot Corp. (IRBT), Honda Motor Company (HMC) and Impax Laboratories (IPXL).

Helmerich & Payne (HP) was down $0.76, to close at $57.67, a loss of 1.30 percent.

Carnival Corp. (CCL) fell $0.76 on the day to close at $40.18, a loss of 1.86 percent.

IRobot Corp. (IRBT) dropped $0.75 to close at $33.47, a loss of 2.19 percent.

Honda Motor Company (HMC) declined $0.75 to close the session at $38.05, a loss of 1.93 percent.

Impax Laboratories (IPXL) plunged $0.74 to end the day at $27.40, a loss of 2.63 percent.

Dividend Yields for (DRI) (CCL) (YUM) (WYN) (SBUX)

Indicated dividend yields for Standard & Poor's 500 Index companies Darden Restaurants Inc (DRI), Carnival Corp (CCL), Yum! Brands Inc (YUM), Wyndham Worldwide Corp (WYN) and Starbucks Corp (SBUX).

These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.

Darden Restaurants Inc (DRI) has a dividend yield of 2.73 percent on a declared dividend of $0.32. The payout ratio is 28.8 percent.

Carnival Corp (CCL) has a dividend yield of 2.63 percent on a declared dividend of $0.25. The payout ratio is 129.9 percent.

Yum! Brands Inc (YUM) has a dividend yield of 1.86 percent on a declared dividend of $0.25. The payout ratio is 44.8 percent.

Wyndham Worldwide Corp (WYN) has a dividend yield of 1.73 percent on a declared dividend of $0.15. The payout ratio is 36.0 percent.

Starbucks Corp (SBUX) has a dividend yield of 1.44 percent on a declared dividend of $0.13. The payout ratio is 38.4 percent.

Carnival's (CCL) Guidance Key for Momentum

There will be no surprises when Carnival reports today, as they've already guided the quarter down on EPS, lowering estimates to $0.19 a share.

The good news for shareholders and investors is the share price of the company has plummeted 20 percent since the early part of March, and any positive surprise could push the stock up.

Now the company is showing some strength as it moves toward its quarterly report, and it could be poised for a move it that strength is reported as sustainable.

The obvious question is the effect from increasing gas prices on the industry, which was hit hard when gas prices approached similar levels a couple of years ago, although they may have to move up another 30 cents a gallon or move before consumers start to pull back on spending.

But the world events have people jittery again, and a lot will depend upon guidance from Carnival as to the upside, if there is any more to be had.

Carnival closed Monday at $41.01, gaining $1.38, or 3.48 percent.

Royal Caribbean (NYSE:RCL), Carnival (NYSE:CCL) Valuations Raised by Wells Fargo (NYSE:WFC)

Wells Fargo (NYSE:WFC) increased their valuation ranges on Royal Caribbean Cruises (NYSE:RCL) and Carnival Corp. (NYSE:CCL), naming Royal Caribbean as a "Top Idea."

Wells said, "RCL's mix of newer class ships (Oasis, Solstice) and deployment should allow for - 200 bbps of net yield growth above the industry. Cost benefits from the newer class ships and operating cost discipline should drive EPS growth of 70%+/18%+, - $3.25/$3.50 in free cash flow/share..."

Wells Fargo raised its full year 2011 and full year 2012 EPS estimates on Royal Caribbean from $3.26 and $3.90 to $3.64 and $4.30.

For Carnival full year 2011 EPS estimate increased from $2.87 to $3.09 and the full year 2012 estimate moves from $3.28 to $3.48.

Concerning Carnival, Wells said that "recent 6 wks booking/pricing trends accelerating across all brands and geographic itineraries for Q111-Q311 and better constant currency costs reinforce our positive view."

Wells Fargo maintains an "Overweight" rating on both companies.

Caribbean Cruises last closed at $46.30, remaining level from its prior close. Wells raised their price target range on them from $49-$52 to $54 to $57 over the next 12 months.

Carnival Corp. last closed at $46.30, down $0.29, or 0.62 percent. Wells increased their price target range on them from $50 to $53 to $54 to $57.

Barclays (NYSE:BCS) Bullish on Carnival Corporation (NYSE:CCL), Cruise Industry

Citing a bullish take on the cruise industry in general, and optimism expressed by Carnival Corporation (NYSE:CCL) specifically, Barclays (NYSE:BCS) believes the industry should have a decent rebound in 2011.

Barclays said, "Carnival's optimistic outlook underscores our bullish view on the cruise industry. Consistent with the conversations we have been having with travel agents, management noted that bookings completed during the last three months for 1Q11 through 3Q11 have been strong, with local currency ticket pricing up year over year.

"Our FY2011 EPS estimate goes to $3.05 from $2.90 driven by a higher net yield forecast of 4.5%, up from 3.0% previously ex FX. In constant dollars, we forecast net yield growth of 4%. Our FY2012 EPS estimate goes to $3.65 from $3.47, which reflects a net yield increase of 4.5%, up slightly from 4%."

Barclays maintains an "Overweight" rating on Carnival Corporation, which closed Wednesday at $46.59, up $1.41, or 3.12 percent. Barclays raised their price target on them from $52 to $55.

Carnival Corporation (NYSE:CCL) Bookings Strong Over Last 3 Months

Carnival Corporation (NYSE:CCL) and others in the cruise industry have been enjoying strong bookings over the last three months, and are optimisitic about the year ahead.

Barclays (NYSE:BCS) said, "Carnival's optimistic outlook underscores our bullish view on the cruise industry. Consistent with the conversations we have been having with travel agents, management noted that bookings completed during the last three months for 1Q11 through 3Q11 have been strong, with local currency ticket pricing up year over year.

"Our FY2011 EPS estimate goes to $3.05 from $2.90 driven by a higher net yield forecast of 4.5%, up from 3.0% previously ex FX. In constant dollars, we forecast net yield growth of 4%. Our FY2012 EPS estimate goes to $3.65 from $3.47, which reflects a net yield increase of 4.5%, up slightly from 4%."

Barclays maintains an "Overweight" on Carnival Corporation, which was trading at $47.15, up $1.97, or 4.36 percent, as of 12:43 PM EST. Barclays raised their price target on Carnival from $52 to $55.

Carnival (NYSE:CCL) Guidance Probably Upbeat for 2011

Expectations from Carnival (NYSE:CCL) for their upcoming guidance outlook is expected to be more upbeat, says Barclays (NYSE:BCS).

Barclays said, "We expect Carnival (on 12/21) to provide an upbeat outlook regarding the year ahead, as we believe demand trends have improved since the FY3Q10 conference call. Given the potential headwind from increased fuel prices both in FY4Q10 and for FY2011, we are trimming our EPS estimates. We would urge investors to focus more on Carnival's positive net yield metrics versus the impact of exogenous factors such as fuel. Carnival trades at a 2012E P/E of 12.1 times, versus our fair valuation estimate of 15 times. Given improving demand, a favorable mix shift to Europe in 2011 and slowing supply beyond, we believe Carnival and the industry is at an inflection point, which current trading levels are not reflecting, in our view.

"...We now believe 4Q10 will come in around $0.30 given the impact of the voyage disruptions ($0.07) and higher fuel costs ($0.03), somewhat offset by the weakening US dollar, which we estimate is equal to +$0.02 to 4Q EPS...Rising fuel costs could create noise in the company's 2011 EPS guidance. Ahead of Carnival's earnings release, we are lowering our prior EPS estimate of $3.07 to $2.90 given upward estimate revisions to our 2011 fuel outlook. This compares to consensus of $2.93."

Carnival closed Thursday at $42.54, up $0.39, or 0.93 percent.