Carnival Corp (CCL) Stock Rating Upgraded by Wolfe Research
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.
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%.
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.
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