Carnival Corporation (CCL) Shares Gap Up to $65.57
Carnival Corporation (NYSE:CCL)’s share price gapped up prior to trading on Monday . The stock had previously closed at $64.21, but opened at $65.57. Carnival Corporation shares last traded at $67.65, with a volume of 6,671,166 shares trading hands.
Several equities analysts recently commented on CCL shares. Wolfe Research raised shares of Carnival Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 25th. ValuEngine raised shares of Carnival Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Credit Suisse Group reissued an “outperform” rating and issued a $74.00 price objective (up previously from $69.00) on shares of Carnival Corporation in a research note on Saturday, June 3rd. William Blair reissued an “outperform” rating on shares of Carnival Corporation in a research note on Friday, June 9th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price objective on shares of Carnival Corporation in a research note on Friday, June 16th. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Carnival Corporation presently has an average rating of “Buy” and an average price target of $63.32.
The company has a market capitalization of $48.98 billion, a price-to-earnings ratio of 17.89 and a beta of 0.74. The company has a 50 day moving average price of $67.65 and a 200-day moving average price of $63.09.
Carnival Corporation (NYSE:CCL) last issued its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 EPS. On average, equities analysts predict that Carnival Corporation will post $3.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Wednesday, August 23rd. Carnival Corporation’s payout ratio is currently 42.55%.
In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the transaction, the insider now directly owns 150,860 shares of the company’s stock, valued at approximately $10,110,637.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 23.80% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Carnival Corporation by 2,672.9% in the 1st quarter. BlackRock Inc. now owns 27,919,132 shares of the company’s stock worth $1,644,716,000 after buying an additional 26,912,293 shares during the period. Alliancebernstein L.P. grew its position in shares of Carnival Corporation by 316.9% in the 2nd quarter. Alliancebernstein L.P. now owns 4,236,266 shares of the company’s stock worth $277,772,000 after buying an additional 3,220,191 shares during the period. Ameriprise Financial Inc. grew its position in shares of Carnival Corporation by 129.9% in the 1st quarter. Ameriprise Financial Inc. now owns 3,395,780 shares of the company’s stock worth $201,341,000 after buying an additional 1,918,638 shares during the period. Janus Henderson Group PLC grew its position in shares of Carnival Corporation by 115.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,088,143 shares of the company’s stock worth $202,505,000 after buying an additional 1,655,345 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Carnival Corporation by 6.5% in the 1st quarter. Bank of America Corp DE now owns 24,838,450 shares of the company’s stock worth $1,463,234,000 after buying an additional 1,519,630 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.
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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