Carnival Corp (CCL) Upgraded to Outperform by William Blair
Carnival Corp (NYSE:CCL) was upgraded by equities research analysts at William Blair from a “market perform” rating to an “outperform” rating in a report released on Monday, The Fly reports.
Several other equities analysts have also commented on CCL. Argus raised Carnival Corp from a “hold” rating to a “buy” rating and raised their price objective for the company from $56.03 to $64.00 in a research report on Monday, February 27th. Zacks Investment Research raised Carnival Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, February 14th. Credit Suisse Group AG reissued an “outperform” rating and set a $59.00 price objective on shares of Carnival Corp in a research report on Wednesday, December 21st. Wells Fargo & Co reissued an “overweight” rating on shares of Carnival Corp in a research report on Friday, December 23rd. Finally, Deutsche Bank AG reissued a “hold” rating and set a $50.00 price objective (up previously from $48.00) on shares of Carnival Corp in a research report on Friday, December 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Carnival Corp presently has an average rating of “Buy” and an average target price of $55.62.
Carnival Corp (NYSE:CCL) traded up 0.21% during trading on Monday, reaching $57.76. 1,937,734 shares of the company traded hands. The firm has a market capitalization of $41.93 billion, a price-to-earnings ratio of 15.53 and a beta of 0.73. The company’s 50-day moving average price is $56.12 and its 200 day moving average price is $51.50. Carnival Corp has a 52 week low of $42.94 and a 52 week high of $57.96.
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Carnival Corp (NYSE:CCL) last announced its quarterly earnings data on Tuesday, December 20th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.58 by $0.09. The business earned $3.90 billion during the quarter, compared to analyst estimates of $3.90 billion. Carnival Corp had a return on equity of 11.35% and a net margin of 16.96%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. On average, equities research analysts expect that Carnival Corp will post $3.58 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Friday, February 24th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.42%. Carnival Corp’s dividend payout ratio is currently 37.43%.
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In other Carnival Corp news, CFO David Bernstein sold 60,664 shares of the business’s stock in a transaction dated Thursday, December 29th. The stock was sold at an average price of $52.11, for a total transaction of $3,161,201.04. Following the completion of the sale, the chief financial officer now directly owns 168,374 shares in the company, valued at approximately $8,773,969.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sir Jonathon Band sold 6,276 shares of the business’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $53.48, for a total value of $335,640.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 241,297 shares of company stock valued at $13,007,082. Corporate insiders own 22.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Rowland & Co. Investment Counsel ADV increased its stake in Carnival Corp by 0.4% in the third quarter. Rowland & Co. Investment Counsel ADV now owns 2,315 shares of the company’s stock worth $113,000 after buying an additional 9 shares in the last quarter. Independent Advisor Alliance bought a new position in shares of Carnival Corp during the fourth quarter worth about $128,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Carnival Corp during the fourth quarter worth about $131,000. NCM Capital Management Group Inc. increased its position in shares of Carnival Corp by 9.9% in the third quarter. NCM Capital Management Group Inc. now owns 2,775 shares of the company’s stock worth $135,000 after buying an additional 250 shares during the period. Finally, SRB Corp increased its position in shares of Carnival Corp by 17.7% in the third quarter. SRB Corp now owns 3,325 shares of the company’s stock worth $162,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 79.45% of the company’s stock.
Carnival Corp 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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