Carnival Corp (NYSE:CCL) was upgraded by equities researchers at Wolfe Research from a “market perform” rating to an “outperform” rating in a report issued on Thursday, The Fly reports.

A number of other equities analysts also recently weighed in on CCL. Argus raised Carnival Corp from a “hold” rating to a “buy” rating and upped their price target for the stock from $56.03 to $64.00 in a research report on Monday, February 27th. Instinet upped their price target on Carnival Corp from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, March 29th. Zacks Investment Research raised Carnival Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, February 14th. Barclays PLC upped their price target on Carnival Corp from $56.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 29th. Finally, Deutsche Bank AG upped their price target on Carnival Corp from $50.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, March 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $57.28.

Analyst Recommendations for Carnival Corp (NYSE:CCL)

Carnival Corp (NYSE:CCL) traded up 1.55% during mid-day trading on Thursday, hitting $62.98. 719,594 shares of the company traded hands. The company’s 50-day moving average price is $60.57 and its 200 day moving average price is $55.98. The company has a market capitalization of $45.72 billion, a price-to-earnings ratio of 15.52 and a beta of 0.73. Carnival Corp has a one year low of $42.94 and a one year high of $63.41.

Carnival Corp (NYSE:CCL) last released its quarterly earnings results on Tuesday, March 28th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Carnival Corp had a return on equity of 11.35% and a net margin of 16.96%. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm posted $0.39 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, analysts anticipate that Carnival Corp will post $3.71 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, May 26th will be issued a dividend of $0.40 per share. This is an increase from Carnival Corp’s previous quarterly dividend of $0.35. The ex-dividend date is Wednesday, May 24th. This represents a $1.60 annualized dividend and a yield of 2.58%. Carnival Corp’s dividend payout ratio (DPR) is currently 37.43%.

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In other Carnival Corp news, Director Richard Glasier sold 6,000 shares of the firm’s stock in a transaction on Thursday, April 13th. The stock was sold at an average price of $58.29, for a total transaction of $349,740.00. Following the completion of the sale, the director now owns 26,684 shares of the company’s stock, valued at approximately $1,555,410.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sir John Parker sold 19,965 shares of the firm’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $60.98, for a total value of $1,217,465.70. Following the sale, the director now directly owns 22,798 shares of the company’s stock, valued at approximately $1,390,222.04. The disclosure for this sale can be found here. Company insiders own 22.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Northern Trust Corp increased its stake in shares of Carnival Corp by 0.3% in the third quarter. Northern Trust Corp now owns 32,257,383 shares of the company’s stock valued at $1,574,805,000 after buying an additional 102,447 shares in the last quarter. Vanguard Group Inc. boosted its position in Carnival Corp by 4.3% in the first quarter. Vanguard Group Inc. now owns 27,985,243 shares of the company’s stock valued at $1,648,612,000 after buying an additional 1,150,341 shares during the last quarter. BlackRock Inc. boosted its position in Carnival Corp by 2,672.9% in the first quarter. BlackRock Inc. now owns 27,919,132 shares of the company’s stock valued at $1,644,716,000 after buying an additional 26,912,293 shares during the last quarter. Bank of America Corp DE boosted its position in Carnival Corp by 6.5% in the first quarter. Bank of America Corp DE now owns 24,838,450 shares of the company’s stock valued at $1,463,234,000 after buying an additional 1,519,630 shares during the last quarter. Finally, State Street Corp boosted its position in Carnival Corp by 1.6% in the first quarter. State Street Corp now owns 17,999,377 shares of the company’s stock valued at $1,060,346,000 after buying an additional 284,607 shares during the last quarter. 79.45% of the stock is owned by institutional investors and hedge funds.

About Carnival Corp

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.

12 Month Chart for NYSE:CCL

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