Carnival Corp. (NYSE:CCL) has been assigned a $53.40 target price by investment analysts at Bank of America Corp. in a research report issued on Wednesday. The firm currently has a a “buy” rating on the stock. Bank of America Corp.’s target price indicates a potential upside of 15.61% from the company’s current price.

Other research analysts have also issued reports about the company. Wells Fargo & Co. reiterated an “outperform” rating on shares of Carnival Corp. in a research report on Thursday, June 30th. Zacks Investment Research lowered Carnival Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 8th. Morgan Stanley lowered their price objective on Carnival Corp. from $60.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, May 26th. Nomura reiterated a “buy” rating and issued a $62.00 price objective on shares of Carnival Corp. in a research report on Wednesday, June 29th. Finally, Barclays PLC reiterated a “hold” rating and issued a $56.00 price objective (down from $58.00) on shares of Carnival Corp. in a research report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $57.16.

Analyst Recommendations for Carnival Corp. (NYSE:CCL)

Carnival Corp. (NYSE:CCL) traded down 1.2542% on Wednesday, hitting $45.6107. The stock had a trading volume of 2,625,154 shares. Carnival Corp. has a 52-week low of $40.52 and a 52-week high of $55.77. The firm’s 50-day moving average is $46.35 and its 200-day moving average is $47.79. The company has a market cap of $33.98 billion, a P/E ratio of 15.7170 and a beta of 0.84.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/carnival-corp-ccl-pt-set-at-53-40-by-bank-of-america-corp.html

Carnival Corp. (NYSE:CCL) last posted its quarterly earnings results on Tuesday, June 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. The business earned $3.70 billion during the quarter. Carnival Corp. had a return on equity of 10.37% and a net margin of 14.00%. Carnival Corp.’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. Equities research analysts anticipate that Carnival Corp. will post $8.11 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors 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 dividend 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%.

Several institutional investors have recently added to or reduced their stakes in the company. Sun Life Financial INC bought a new position in Carnival Corp. during the first quarter worth about $116,305,000. Capital Analysts LLC raised its position in 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 position in 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 position in 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 position in 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 currently owned by hedge funds and other institutional investors.

Carnival Corp. Company Profile

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.

5 Day Chart for NYSE:CCL

Receive News & Ratings for Carnival Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival Corp. and related companies with MarketBeat.com's FREE daily email newsletter.