Carnival Corporation (NYSE:CCL) declared a quarterly dividend on Friday, October 20th, Wall Street Journal reports. Investors of record on Friday, November 24th will be given a dividend of 0.45 per share on Friday, December 15th. This represents a $1.80 annualized dividend and a yield of 2.72%. The ex-dividend date is Wednesday, November 22nd. This is a boost from Carnival Corporation’s previous quarterly dividend of $0.40.

Carnival Corporation has raised its dividend by an average of 10.5% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Carnival Corporation has a payout ratio of 48.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Carnival Corporation to earn $4.25 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 42.4%.

Carnival Corporation (NYSE CCL) opened at $66.13 on Tuesday. The firm has a market cap of $47,320.00, a PE ratio of 17.16, a P/E/G ratio of 1.35 and a beta of 0.74. The company has a current ratio of 0.21, a quick ratio of 0.16 and a debt-to-equity ratio of 0.32. Carnival Corporation has a 1 year low of $49.73 and a 1 year high of $69.89.

Carnival Corporation (NYSE:CCL) last posted its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.09. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.39 billion. Carnival Corporation had a net margin of 15.53% and a return on equity of 12.15%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.92 earnings per share. equities analysts forecast that Carnival Corporation will post 3.7 EPS for the current year.

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In related news, CEO Arnold W. Donald sold 5,000 shares of Carnival Corporation stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $65.43, for a total value of $327,150.00. Following the sale, the chief executive officer now owns 115,572 shares in the company, valued at $7,561,875.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arnold W. Donald sold 90,903 shares of Carnival Corporation stock in a transaction on Monday, October 16th. The shares were sold at an average price of $67.41, for a total transaction of $6,127,771.23. The disclosure for this sale can be found here. Insiders own 23.80% of the company’s stock.

CCL has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Carnival Corporation from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research report on Tuesday, September 5th. Credit Suisse Group lowered shares of Carnival Corporation from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $78.00 to $70.00 in a research report on Friday, September 15th. Bank of America Corporation reiterated a “buy” rating and set a $73.20 target price on shares of Carnival Corporation in a research report on Monday, July 24th. BidaskClub upgraded shares of Carnival Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $61.00 target price (down previously from $62.00) on shares of Carnival Corporation in a research report on Wednesday, September 27th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Carnival Corporation currently has a consensus rating of “Buy” and a consensus target price of $67.43.

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.

Dividend History for Carnival Corporation (NYSE:CCL)

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