Carnival Corp. (CCL) PT Set at $53.40 by Bank of America Corp.
Carnival Corp. (NYSE:CCL) has been assigned a $53.40 price target by equities researchers at Bank of America Corp. in a note issued to investors on Wednesday. The firm currently has a a “buy” rating on the stock. Bank of America Corp.’s target price would indicate a potential upside of 15.61% from the stock’s current price.
Several other equities analysts have also issued reports on CCL. Zacks Investment Research lowered Carnival Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Nomura reiterated a “buy” rating and issued a $62.00 price target on shares of Carnival Corp. in a research note on Wednesday, June 29th. Sterne Agee CRT assumed coverage on Carnival Corp. in a research note on Tuesday, June 7th. They issued a “buy” rating and a $60.00 price target on the stock. Goldman Sachs Group Inc. lifted their price target on Carnival Corp. from $46.50 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, June 29th. Finally, Barclays PLC reiterated a “hold” rating and issued a $56.00 price target (down previously from $58.00) on shares of Carnival Corp. in a research note on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. Carnival Corp. presently has an average rating of “Buy” and a consensus price target of $57.16.
Carnival Corp. (NYSE:CCL) traded down 0.617% during trading on Wednesday, reaching $45.905. The company’s stock had a trading volume of 3,625,340 shares. Carnival Corp. has a 52-week low of $40.52 and a 52-week high of $55.77. The stock has a market cap of $34.20 billion, a price-to-earnings ratio of 15.818 and a beta of 0.84. The firm has a 50 day moving average price of $46.35 and a 200-day moving average price of $47.79.
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Carnival Corp. (NYSE:CCL) last issued its quarterly earnings results on Tuesday, June 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.10. Carnival Corp. had a return on equity of 10.37% and a net margin of 14.00%. The company had revenue of $3.70 billion for the quarter. During the same quarter in the previous year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts expect that Carnival Corp. will post $8.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 26th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, August 24th. Carnival Corp.’s dividend payout ratio is currently 48.44%.
Hedge funds have recently modified their holdings of the company. Sun Life Financial INC bought a new stake in shares of Carnival Corp. during the first quarter worth approximately $116,305,000. Capital Analysts LLC raised its stake in shares of Carnival Corp. by 3.7% in the second quarter. Capital Analysts LLC now owns 3,316 shares of the company’s stock worth $147,000 after buying an additional 118 shares in the last quarter. Hall Laurie J Trustee raised its stake in shares of Carnival Corp. by 6.9% in the second quarter. Hall Laurie J Trustee now owns 3,550 shares of the company’s stock worth $162,000 after buying an additional 230 shares in the last quarter. Wunderlich Capital Managemnt raised its stake in shares of Carnival Corp. by 24.4% in the first quarter. Wunderlich Capital Managemnt now owns 3,684 shares of the company’s stock worth $194,000 after buying an additional 723 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Carnival Corp. by 4.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the company’s stock worth $182,000 after buying an additional 162 shares in the last quarter. 77.99% of the stock is owned by hedge funds and other institutional investors.
About Carnival Corp.
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
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