Carnival Corporation (CCL) Raised to “Strong-Buy” at BidaskClub
BidaskClub upgraded shares of Carnival Corporation (NYSE:CCL) from a buy rating to a strong-buy rating in a report released on Friday.
CCL has been the topic of several other reports. Goldman Sachs Group, Inc. (The) restated a neutral rating on shares of Carnival Corporation in a report on Tuesday, August 15th. Zacks Investment Research upgraded shares of Carnival Corporation from a hold rating to a buy rating and set a $74.00 price objective on the stock in a report on Wednesday, July 12th. Deutsche Bank AG restated a hold rating and issued a $62.00 price objective (up from $58.00) on shares of Carnival Corporation in a report on Sunday, June 25th. Wedbush restated a neutral rating and issued a $66.00 price objective (up from $61.00) on shares of Carnival Corporation in a report on Sunday, June 25th. Finally, Stifel Nicolaus restated a buy rating and issued a $74.00 price objective (up from $68.00) on shares of Carnival Corporation in a report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $62.49.
Carnival Corporation (NYSE CCL) opened at 67.46 on Friday. The stock has a market capitalization of $48.84 billion, a price-to-earnings ratio of 17.84 and a beta of 0.75. The stock’s 50 day moving average is $66.96 and its 200-day moving average is $61.73. Carnival Corporation has a 12 month low of $44.11 and a 12 month high of $69.24.
Carnival Corporation (NYSE:CCL) last issued its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the business posted $0.49 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Carnival Corporation will post $3.74 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.37%. Carnival Corporation’s dividend payout ratio is presently 42.55%.
In other news, insider Alan Buckelew sold 15,000 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $67.52, for a total value of $1,012,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 23.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in CCL. Capstone Asset Management Co. increased its position in Carnival Corporation by 3.1% in the first quarter. Capstone Asset Management Co. now owns 35,001 shares of the company’s stock valued at $2,062,000 after buying an additional 1,060 shares during the period. Reliance Trust Co. of Delaware increased its position in Carnival Corporation by 115.2% in the first quarter. Reliance Trust Co. of Delaware now owns 9,650 shares of the company’s stock valued at $568,000 after buying an additional 5,166 shares during the period. Boston Advisors LLC increased its position in Carnival Corporation by 69.0% in the first quarter. Boston Advisors LLC now owns 11,635 shares of the company’s stock valued at $685,000 after buying an additional 4,750 shares during the period. Rothschild Investment Corp IL increased its position in Carnival Corporation by 7.7% in the first quarter. Rothschild Investment Corp IL now owns 22,472 shares of the company’s stock valued at $1,324,000 after buying an additional 1,600 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in Carnival Corporation during the first quarter valued at $276,000. Institutional investors and hedge funds own 78.54% of the company’s stock.
About Carnival Corporation
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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