Carnival Corp. (CCL) Price Target Lowered to $59.00 at Nomura
Several other equities analysts have also recently weighed in on CCL. Tigress Financial upgraded Carnival Corp. from a neutral rating to a buy rating in a research report on Tuesday, May 31st. Sterne Agee CRT started coverage on Carnival Corp. in a research report on Tuesday, June 7th. They issued a buy rating and a $60.00 price target for the company. Goldman Sachs Group Inc. lifted their price target on Carnival Corp. from $46.50 to $52.00 and gave the company a neutral rating in a research report on Wednesday, June 29th. Barclays PLC reiterated a hold rating and issued a $56.00 price target (down from $58.00) on shares of Carnival Corp. in a research report on Wednesday, June 29th. Finally, Wells Fargo & Co. reiterated an outperform rating on shares of Carnival Corp. in a research report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Carnival Corp. presently has an average rating of Buy and an average target price of $56.57.
Carnival Corp. (NYSE:CCL) traded up 0.02% during trading on Tuesday, reaching $48.36. The company’s stock had a trading volume of 1,491,896 shares. The company has a market cap of $36.03 billion, a PE ratio of 16.66 and a beta of 0.84. The stock has a 50-day moving average price of $46.47 and a 200 day moving average price of $47.79. Carnival Corp. has a 52-week low of $40.52 and a 52-week high of $55.77.
Carnival Corp. (NYSE:CCL) last announced its quarterly earnings results on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.03. The company earned $5.10 billion during the quarter. Carnival Corp. had a return on equity of 10.76% and a net margin of 15.10%. Carnival Corp.’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 earnings per share. On average, analysts expect that Carnival Corp. will post $8.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 26th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, August 24th. This represents a $1.40 annualized dividend and a yield of 2.90%. Carnival Corp.’s dividend payout ratio is 42.94%.
Several institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in Carnival Corp. during the second quarter valued at $101,474,000. Emerald Acquisition Ltd. purchased a new position in Carnival Corp. during the second quarter valued at $90,931,000. Orbis Allan Gray Ltd purchased a new position in Carnival Corp. during the first quarter valued at $104,294,000. Massachusetts Financial Services Co. MA boosted its position in Carnival Corp. by 85.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,354,637 shares of the company’s stock valued at $104,075,000 after buying an additional 1,085,807 shares during the last quarter. Finally, CQS Cayman LP boosted its position in Carnival Corp. by 89.0% in the first quarter. CQS Cayman LP now owns 1,595,289 shares of the company’s stock valued at $83,927,000 after buying an additional 751,372 shares during the last quarter. 77.99% of the stock is currently owned by hedge funds and other institutional investors.
About Carnival Corp.
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
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