Wells Fargo & Co. Reaffirms “Buy” Rating for Carnival Corp. (CCL)
Carnival Corp. (NYSE:CCL)‘s stock had its “buy” rating reaffirmed by research analysts at Wells Fargo & Co. in a research note issued to investors on Wednesday.
CCL has been the subject of a number of other reports. Bank of America Corp. set a $53.40 price objective on Carnival Corp. and gave the company a “buy” rating in a report on Wednesday, September 21st. Morgan Stanley downgraded Carnival Corp. from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $54.00 to $48.00 in a report on Friday, September 2nd. Sanford C. Bernstein initiated coverage on Carnival Corp. in a report on Thursday, September 8th. They issued a “market perform” rating and a $51.00 price objective for the company. Sterne Agee CRT initiated coverage on Carnival Corp. in a report on Tuesday, June 7th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Tigress Financial upgraded Carnival Corp. from a “neutral” rating to a “buy” rating in a report on Tuesday, May 31st. One investment 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 a consensus rating of “Buy” and an average price target of $56.92.
Carnival Corp. (NYSE:CCL) opened at 48.35 on Wednesday. Carnival Corp. has a 52-week low of $40.52 and a 52-week high of $55.77. The company’s 50 day moving average price is $46.47 and its 200 day moving average price is $47.79. The company has a market cap of $36.02 billion, a P/E ratio of 16.66 and a beta of 0.84.
Carnival Corp. (NYSE:CCL) last posted its quarterly earnings data on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.03. The business earned $5.10 billion during the quarter. Carnival Corp. had a return on equity of 10.76% and a net margin of 15.10%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.75 earnings per share. Equities research analysts anticipate that Carnival Corp. will post $8.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 26th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, August 24th. This represents a $1.40 annualized dividend and a dividend yield of 2.90%. Carnival Corp.’s dividend payout ratio is currently 42.94%.
Institutional investors have recently bought and sold shares of the company. Capital Analysts LLC boosted its position in Carnival Corp. by 3.7% in the second quarter. Capital Analysts LLC now owns 3,316 shares of the company’s stock valued at $147,000 after buying an additional 118 shares in the last quarter. Hall Laurie J Trustee boosted its position in Carnival Corp. by 6.9% in the second quarter. Hall Laurie J Trustee now owns 3,550 shares of the company’s stock valued at $162,000 after buying an additional 230 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Carnival Corp. by 4.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the company’s stock valued at $182,000 after buying an additional 162 shares in the last quarter. Wunderlich Capital Managemnt boosted its position in Carnival Corp. by 24.4% in the first quarter. Wunderlich Capital Managemnt now owns 3,684 shares of the company’s stock valued at $194,000 after buying an additional 723 shares in the last quarter. Finally, Intrust Bank NA purchased a new position in Carnival Corp. during the second quarter valued at approximately $202,000. 77.99% of the stock is currently owned by hedge funds and other institutional investors.
Carnival Corp. Company Profile
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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