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.

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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.

Analyst Recommendations for Carnival Corporation (NYSE:CCL)

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