Carnival Corporation (CCL) CEO Sells $6,127,771.23 in Stock
Carnival Corporation (NYSE:CCL) CEO Arnold W. Donald sold 90,903 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $67.41, for a total value of $6,127,771.23. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Carnival Corporation (NYSE CCL) opened at 65.88 on Friday. Carnival Corporation has a one year low of $46.11 and a one year high of $69.89. The firm has a market capitalization of $47.50 billion, a PE ratio of 17.92 and a beta of 0.71. The stock has a 50 day moving average price of $66.13 and a 200-day moving average price of $64.82.
Carnival Corporation (NYSE:CCL) last released its earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.09. Carnival Corporation had a return on equity of 12.15% and a net margin of 15.53%. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the company earned $1.92 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts forecast that Carnival Corporation will post $3.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This is a boost from Carnival Corporation’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.73%. Carnival Corporation’s dividend payout ratio is presently 43.72%.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCL. FMR LLC lifted its stake in Carnival Corporation by 8.0% during the first quarter. FMR LLC now owns 226,744 shares of the company’s stock worth $13,358,000 after purchasing an additional 16,719 shares during the last quarter. Teachers Advisors LLC lifted its stake in Carnival Corporation by 4.0% during the first quarter. Teachers Advisors LLC now owns 1,313,131 shares of the company’s stock worth $77,357,000 after purchasing an additional 50,283 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in Carnival Corporation by 11.1% during the first quarter. Thrivent Financial For Lutherans now owns 16,330 shares of the company’s stock worth $962,000 after purchasing an additional 1,630 shares during the last quarter. Global X Management Co. LLC lifted its stake in Carnival Corporation by 29.4% during the first quarter. Global X Management Co. LLC now owns 4,794 shares of the company’s stock worth $282,000 after purchasing an additional 1,088 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new stake in Carnival Corporation during the first quarter worth $23,323,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.
CCL has been the subject of several recent analyst reports. HSBC Holdings plc restated a “buy” rating and set a $71.00 target price (up previously from $65.00) on shares of Carnival Corporation in a research note on Monday, June 26th. Zacks Investment Research upgraded Carnival Corporation from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Tuesday, September 5th. Wedbush reiterated a “neutral” rating and issued a $66.00 price objective (up previously from $61.00) on shares of Carnival Corporation in a research report on Sunday, June 25th. Credit Suisse Group downgraded Carnival Corporation from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $78.00 to $70.00 in a research report on Friday, September 15th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $62.00 price objective (up previously from $58.00) on shares of Carnival Corporation in a research report on Sunday, June 25th. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Carnival Corporation currently has an average rating of “Buy” and a consensus price target of $66.24.
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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