Carnival Corporation (CCL) Given “Buy” Rating at HSBC Holdings plc
Carnival Corporation (NYSE:CCL)‘s stock had its “buy” rating reissued by HSBC Holdings plc in a research report issued on Monday. They presently have a $71.00 price target on the stock, up from their previous price target of $65.00. HSBC Holdings plc’s target price points to a potential upside of 7.58% from the company’s previous close.
CCL has been the topic of a number of other reports. Wells Fargo & Company upgraded shares of Carnival Corporation from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 21st. Argus upgraded shares of Carnival Corporation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $56.03 to $64.00 in a report on Monday, February 27th. Zacks Investment Research upgraded shares of Carnival Corporation from a “sell” rating to a “hold” rating in a report on Friday, March 10th. Credit Suisse Group restated an “outperform” rating and issued a $74.00 target price (up from $69.00) on shares of Carnival Corporation in a report on Saturday, June 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $68.00 target price on shares of Carnival Corporation in a report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $60.08.
Carnival Corporation (NYSE:CCL) traded down 0.68% during midday trading on Monday, hitting $66.00. The company had a trading volume of 3,372,845 shares. Carnival Corporation has a 52 week low of $42.94 and a 52 week high of $67.06. The firm’s 50 day moving average is $63.28 and its 200-day moving average is $57.81. The firm has a market capitalization of $47.78 billion, a P/E ratio of 17.46 and a beta of 0.77.
Carnival Corporation (NYSE:CCL) last posted its earnings results on Thursday, June 22nd. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.29%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the firm posted $0.49 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Carnival Corporation will post $3.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, May 26th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.42%. This is a boost from Carnival Corporation’s previous quarterly dividend of $0.35. The ex-dividend date was Wednesday, May 24th. Carnival Corporation’s payout ratio is 42.55%.
In other Carnival Corporation news, Director Sir John Parker sold 19,965 shares of the business’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $60.98, for a total value of $1,217,465.70. Following the completion of the sale, the director now directly owns 22,798 shares of the company’s stock, valued at approximately $1,390,222.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard Glasier sold 6,000 shares of the business’s stock in a transaction dated Thursday, April 13th. The shares were sold at an average price of $58.29, for a total transaction of $349,740.00. Following the completion of the sale, the director now directly owns 26,684 shares of the company’s stock, valued at $1,555,410.36. The disclosure for this sale can be found here. 23.80% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. UBS Oconnor LLC acquired a new stake in shares of Carnival Corporation during the first quarter valued at $4,467,000. Piedmont Investment Advisors LLC boosted its stake in shares of Carnival Corporation by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 86,501 shares of the company’s stock valued at $5,096,000 after buying an additional 740 shares during the last quarter. Marianas Fund Management LLC boosted its stake in shares of Carnival Corporation by 5.3% in the first quarter. Marianas Fund Management LLC now owns 258,400 shares of the company’s stock valued at $15,222,000 after buying an additional 13,000 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in shares of Carnival Corporation during the first quarter valued at $7,458,000. Finally, Bank of Nova Scotia boosted its stake in shares of Carnival Corporation by 878.0% in the first quarter. Bank of Nova Scotia now owns 96,069 shares of the company’s stock valued at $5,660,000 after buying an additional 86,246 shares during the last quarter. 78.81% of the stock is owned by hedge funds and other institutional investors.
Carnival Corporation Company Profile
Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
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