Carnival Corporation (CCL) Given “Buy” Rating at Stifel Nicolaus
Stifel Nicolaus reaffirmed their buy rating on shares of Carnival Corporation (NYSE:CCL) in a research report report published on Wednesday. Stifel Nicolaus currently has a $79.00 price objective on the stock, up from their previous price objective of $74.00.
Several other equities research analysts have also recently weighed in on CCL. Instinet upped their price objective on shares of Carnival Corporation from $72.00 to $75.00 and gave the stock a buy rating in a research report on Friday, June 23rd. HSBC Holdings plc reaffirmed a buy rating and set a $71.00 price objective (up previously from $65.00) on shares of Carnival Corporation in a research report on Monday, June 26th. ValuEngine raised shares of Carnival Corporation from a hold rating to a buy rating in a research report on Friday, June 2nd. Bank of America Corporation reaffirmed a buy rating and set a $73.20 price objective on shares of Carnival Corporation in a research report on Monday, July 24th. Finally, Zacks Investment Research raised shares of Carnival Corporation from a hold rating to a buy rating and set a $74.00 price objective for the company in a research report on Wednesday, July 12th. Ten research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Carnival Corporation presently has an average rating of Buy and an average target price of $64.54.
Shares of Carnival Corporation (NYSE CCL) traded up 0.50% during midday trading on Wednesday, hitting $64.00. 1,956,148 shares of the company were exchanged. The company has a market capitalization of $46.34 billion, a P/E ratio of 16.93 and a beta of 0.74. Carnival Corporation has a one year low of $45.80 and a one year high of $69.89. The company has a 50-day moving average of $67.69 and a 200 day moving average of $63.59. Carnival Corporation also saw some unusual options trading activity on Tuesday. Investors purchased 8,594 call options on the company. This is an increase of approximately 409% compared to the typical volume of 1,690 call options.
Carnival Corporation (NYSE:CCL) last announced its earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.09. The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Carnival Corporation had a net margin of 15.53% and a return on equity of 12.34%. Carnival Corporation’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.92 earnings per share. On average, equities research analysts expect that Carnival Corporation will post $3.74 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Wednesday, August 23rd. Carnival Corporation’s dividend payout ratio is currently 43.72%.
In other news, insider Alan Buckelew sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $67.02, for a total value of $1,005,300.00. Following the completion of the transaction, the insider now owns 150,860 shares of the company’s stock, valued at $10,110,637.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 23.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its stake in shares of Carnival Corporation by 4.0% in the first quarter. Teachers Advisors LLC now owns 1,313,131 shares of the company’s stock valued at $77,357,000 after buying an additional 50,283 shares during the period. Prudential Financial Inc. increased its stake in shares of Carnival Corporation by 4.3% in the second quarter. Prudential Financial Inc. now owns 669,634 shares of the company’s stock valued at $43,908,000 after buying an additional 27,330 shares during the period. Homrich & Berg acquired a new position in shares of Carnival Corporation in the second quarter valued at approximately $272,000. Covenant Multifamily Offices LLC increased its stake in shares of Carnival Corporation by 2.4% in the second quarter. Covenant Multifamily Offices LLC now owns 39,931 shares of the company’s stock valued at $2,618,000 after buying an additional 929 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Carnival Corporation by 14.7% in the second quarter. Victory Capital Management Inc. now owns 34,549 shares of the company’s stock valued at $2,265,000 after buying an additional 4,422 shares during the period. 77.34% of the stock is owned by institutional investors.
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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