Carnival Corporation (CCL) Receives Average Rating of “Buy” from Brokerages
Carnival Corporation (NYSE:CCL) has been assigned an average recommendation of “Buy” from the twenty-two ratings firms that are covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $68.86.
Several analysts recently issued reports on CCL shares. Zacks Investment Research raised Carnival Corporation from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research note on Tuesday, August 22nd. UBS AG reissued a “buy” rating and set a $76.00 target price (up previously from $67.00) on shares of Carnival Corporation in a research note on Thursday, August 17th. Bank of America Corporation reissued a “buy” rating and set a $73.20 target price on shares of Carnival Corporation in a research note on Monday, July 24th. BidaskClub downgraded Carnival Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $79.00 target price (up previously from $74.00) on shares of Carnival Corporation in a research note on Wednesday, September 27th.
In other news, CEO Arnold W. Donald sold 90,903 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $67.41, for a total transaction of $6,127,771.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 23.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCL. Almanack Investment Partners LLC. bought a new position in shares of Carnival Corporation during the 2nd quarter valued at approximately $117,000. Point72 Asia Hong Kong Ltd bought a new position in shares of Carnival Corporation during the 1st quarter valued at approximately $138,000. Harbour Capital Advisors LLC bought a new position in shares of Carnival Corporation during the 1st quarter valued at approximately $147,000. Bessemer Group Inc. increased its position in shares of Carnival Corporation by 109.4% during the 2nd quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after purchasing an additional 1,368 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC increased its position in shares of Carnival Corporation by 1.4% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after purchasing an additional 40 shares during the last quarter. 77.87% of the stock is currently owned by hedge funds and other institutional investors.
Carnival Corporation (NYSE CCL) opened at 66.39 on Wednesday. Carnival Corporation has a 52-week low of $48.00 and a 52-week high of $69.89. The company has a market capitalization of $47.87 billion, a PE ratio of 18.06 and a beta of 0.71. The company has a 50 day moving average of $66.04 and a 200 day moving average of $65.27.
Carnival Corporation (NYSE:CCL) last issued its earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.09. The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.39 billion. Carnival Corporation had a return on equity of 12.15% and a net margin of 15.53%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $1.92 EPS. On average, equities research analysts forecast that Carnival Corporation will post $3.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.80 annualized dividend and a dividend yield of 2.71%. This is an increase from Carnival Corporation’s previous quarterly dividend of $0.40. Carnival Corporation’s payout ratio is currently 43.72%.
Carnival Corporation 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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