Carnival Corp. (CCL) Given Consensus Rating of “Buy” by Analysts
Shares of Carnival Corp. (NYSE:CCL) have been assigned a consensus rating of “Buy” from the twenty-four analysts that are covering the firm. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $55.34.
Several equities analysts have recently commented on CCL shares. Bank of America Corp. set a $53.40 target price on shares of Carnival Corp. and gave the stock a “buy” rating in a report on Wednesday, September 21st. Macquarie started coverage on shares of Carnival Corp. in a report on Tuesday, October 4th. They issued a “neutral” rating and a $55.00 target price on the stock. Morgan Stanley downgraded shares of Carnival Corp. from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $54.00 to $48.00 in a report on Friday, September 2nd. HSBC started coverage on shares of Carnival Corp. in a report on Monday, October 3rd. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Carnival Corp. in a report on Wednesday, September 28th.
Shares of Carnival Corp. (NYSE:CCL) opened at 49.82 on Monday. Carnival Corp. has a one year low of $40.52 and a one year high of $55.77. The company has a market cap of $36.37 billion, a price-to-earnings ratio of 15.49 and a beta of 0.66. The firm has a 50-day moving average of $47.91 and a 200-day moving average of $47.30.
Carnival Corp. (NYSE:CCL) last posted its quarterly earnings results on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.03. The business earned $5.10 billion during the quarter. Carnival Corp. had a net margin of 15.10% and a return on equity of 10.76%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.75 earnings per share. Equities research analysts forecast that Carnival Corp. will post $3.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, November 25th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, November 22nd. Carnival Corp.’s payout ratio is 42.94%.
In other Carnival Corp. news, CEO Arnold W. Donald sold 91,813 shares of the stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $46.67, for a total transaction of $4,284,912.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Bernstein sold 4,030 shares of the stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $49.18, for a total transaction of $198,195.40. Following the sale, the chief financial officer now directly owns 47,256 shares of the company’s stock, valued at $2,324,050.08. The disclosure for this sale can be found here. Company insiders own 22.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Rowland & Co. Investment Counsel ADV raised its stake in Carnival Corp. by 0.4% in the third quarter. Rowland & Co. Investment Counsel ADV now owns 2,315 shares of the company’s stock valued at $113,000 after buying an additional 9 shares during the last quarter. Synovus Financial Corp raised its stake in Carnival Corp. by 0.4% in the second quarter. Synovus Financial Corp now owns 6,689 shares of the company’s stock valued at $295,000 after buying an additional 25 shares during the last quarter. Boston Advisors LLC raised its stake in Carnival Corp. by 0.3% in the third quarter. Boston Advisors LLC now owns 11,025 shares of the company’s stock valued at $538,000 after buying an additional 35 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Carnival Corp. by 0.3% in the second quarter. Thrivent Financial for Lutherans now owns 13,260 shares of the company’s stock valued at $586,000 after buying an additional 40 shares during the last quarter. Finally, Concert Wealth Management Inc. raised its stake in Carnival Corp. by 1.1% in the third quarter. Concert Wealth Management Inc. now owns 5,434 shares of the company’s stock valued at $268,000 after buying an additional 59 shares during the last quarter. 78.49% of the stock is owned by institutional investors and hedge funds.
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.