Carnival Corporation (CCL) Price Target Raised to $76.00
Carnival Corporation (NYSE:CCL) had its price target hoisted by Susquehanna Bancshares Inc from $75.00 to $76.00 in a research report sent to investors on Monday, Marketbeat reports. The firm currently has a positive rating on the stock.
A number of other equities analysts also recently commented on the stock. HSBC Holdings plc restated a buy rating and issued a $71.00 target price (up from $65.00) on shares of Carnival Corporation in a research note on Monday, June 26th. Zacks Investment Research upgraded shares of Carnival Corporation from a hold rating to a buy rating and set a $77.00 target price on the stock in a research note on Tuesday, September 5th. Wedbush restated a neutral rating and issued a $66.00 target price (up from $61.00) on shares of Carnival Corporation in a research note on Sunday, June 25th. 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 research note on Saturday, June 3rd. Finally, William Blair restated an outperform rating on shares of Carnival Corporation in a research note on Friday, June 9th. Nine research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Carnival Corporation presently has a consensus rating of Buy and a consensus target price of $64.39.
Shares of Carnival Corporation (NYSE:CCL) opened at 63.68 on Monday. Carnival Corporation has a 12-month low of $45.80 and a 12-month high of $69.89. The stock’s 50 day moving average is $67.69 and its 200-day moving average is $63.59. The stock has a market capitalization of $46.10 billion, a price-to-earnings ratio of 16.84 and a beta of 0.74. Carnival Corporation also saw some unusual options trading activity on Tuesday. Stock investors bought 8,594 call options on the stock. This represents an increase of 409% compared to the typical daily volume of 1,690 call options.
Carnival Corporation (NYSE:CCL) last issued its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.20 by $0.09. The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.39 billion. Carnival Corporation had a net margin of 15.53% and a return on equity of 12.34%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.92 EPS. On average, analysts expect that Carnival Corporation will post $3.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.46%. Carnival Corporation’s payout ratio is 43.72%.
In related news, insider Alan Buckelew sold 15,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 150,860 shares of the company’s stock, valued at $10,110,637.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 23.80% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Pathstone Family Office LLC lifted its position in Carnival Corporation by 200.0% during the second quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock valued at $2,493,000 after acquiring an additional 38 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its position in Carnival Corporation by 1.4% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after acquiring an additional 40 shares during the last quarter. Cleararc Capital Inc. lifted its position in Carnival Corporation by 0.6% during the first quarter. Cleararc Capital Inc. now owns 10,237 shares of the company’s stock valued at $603,000 after acquiring an additional 63 shares during the last quarter. Security National Bank of Sioux City Iowa IA lifted its position in Carnival Corporation by 0.5% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,390 shares of the company’s stock valued at $878,000 after acquiring an additional 65 shares during the last quarter. Finally, Scotia Capital Inc. lifted its position in Carnival Corporation by 0.4% during the second quarter. Scotia Capital Inc. now owns 16,604 shares of the company’s stock valued at $1,089,000 after acquiring an additional 71 shares during the last quarter. 77.34% of the stock is owned by 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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