Carnival Corp. (NYSE:CCL) Receives Average Recommendation of “Buy” from Brokerages
Carnival Corp. (NYSE:CCL) has received an average rating of “Buy” from the twenty-three ratings firms that are presently covering the company. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $56.36.
A number of analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Carnival Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 8th. Nomura restated a “buy” rating and issued a $62.00 price target on shares of Carnival Corp. in a report on Wednesday, June 29th. HSBC initiated coverage on shares of Carnival Corp. in a research note on Monday. They issued a “buy” rating and a $60.00 target price for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 target price on shares of Carnival Corp. in a research note on Tuesday, September 27th. Finally, Sterne Agee CRT initiated coverage on shares of Carnival Corp. in a research note on Tuesday, June 7th. They issued a “buy” rating and a $60.00 target price for the company.
A number of large investors have recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Carnival Corp. during the second quarter valued at about $783,000. Kentucky Retirement Systems acquired a new stake in shares of Carnival Corp. during the second quarter valued at about $1,648,000. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Carnival Corp. by 10.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 931,382 shares of the company’s stock valued at $41,167,000 after buying an additional 86,829 shares during the period. Mason Street Advisors LLC acquired a new stake in shares of Carnival Corp. during the second quarter valued at about $2,610,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 during the period. 77.99% of the stock is currently owned by institutional investors.
Shares of Carnival Corp. (NYSE:CCL) traded up 0.55% during mid-day trading on Monday, reaching $49.09. 2,250,180 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $46.74 and its 200-day moving average price is $47.81. The company has a market capitalization of $35.84 billion, a PE ratio of 15.26 and a beta of 0.80. Carnival Corp. has a one year low of $40.52 and a one year high of $55.77.
Carnival Corp. (NYSE:CCL) last released its quarterly earnings results on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. Carnival Corp. had a net margin of 15.10% and a return on equity of 10.76%. The business had revenue of $5.10 billion for the quarter. During the same quarter in the prior year, the business posted $1.75 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts expect that Carnival Corp. will post $8.25 earnings per share 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 of this dividend was Wednesday, August 24th. This represents a $1.40 annualized dividend and a yield of 2.83%. Carnival Corp.’s dividend payout ratio (DPR) is presently 42.94%.
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.
Receive News & Stock Ratings for Carnival Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival Corp. and related stocks with our FREE daily email newsletter.