Investors Buy Carnival Corp. (CCL) on Weakness
Traders purchased shares of Carnival Corp. (NYSE:CCL) on weakness during trading on Wednesday. $37.14 million flowed into the stock on the tick-up and $25.11 million flowed out of the stock on the tick-down, for a money net flow of $12.03 million into the stock. Of all companies tracked, Carnival Corp. had the 9th highest net in-flow for the day. Carnival Corp. traded down ($0.37) for the day and closed at $45.82
CCL has been the subject of several recent research reports. Bank of America Corp. set a $53.40 price target on Carnival Corp. and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded Carnival Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Sanford C. Bernstein initiated coverage on Carnival Corp. in a research report on Thursday, September 8th. They issued a “market perform” rating and a $51.00 price target for the company. Morgan Stanley lowered Carnival Corp. from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $54.00 to $48.00 in a research report on Friday, September 2nd. Finally, Wells Fargo & Co. reiterated an “outperform” rating on shares of Carnival Corp. in a research report on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $57.16.
The stock has a market cap of $34.14 billion, a price-to-earnings ratio of 15.79 and a beta of 0.84. The stock has a 50-day moving average of $46.36 and a 200-day moving average of $47.77.
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Carnival Corp. (NYSE:CCL) last posted its quarterly earnings results on Tuesday, June 28th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.10. Carnival Corp. had a net margin of 14.00% and a return on equity of 10.37%. The business earned $3.70 billion during the quarter. During the same period last year, the company earned $0.25 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities research analysts anticipate that Carnival Corp. will post $8.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, August 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.06%. Carnival Corp.’s payout ratio is currently 48.44%.
Several institutional investors have recently bought and sold shares of CCL. Raymond James Trust N.A. bought a new position in Carnival Corp. during the first quarter worth $300,000. OLD National Bancorp IN boosted its position in Carnival Corp. by 12.0% in the first quarter. OLD National Bancorp IN now owns 7,379 shares of the company’s stock worth $389,000 after buying an additional 791 shares during the last quarter. Glenmede Trust Co. NA boosted its position in Carnival Corp. by 8.0% in the first quarter. Glenmede Trust Co. NA now owns 133,274 shares of the company’s stock worth $7,032,000 after buying an additional 9,824 shares during the last quarter. KLCM Advisors Inc. boosted its position in Carnival Corp. by 1.2% in the first quarter. KLCM Advisors Inc. now owns 237,485 shares of the company’s stock worth $12,532,000 after buying an additional 2,860 shares during the last quarter. Finally, Telemus Capital LLC bought a new position in Carnival Corp. during the first quarter worth $269,000. 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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