Advisor Group Inc. increased its position in shares of Carnival Corp (NYSE:CCL) by 14.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,245 shares of the company’s stock after buying an additional 2,700 shares during the period. Advisor Group Inc.’s holdings in Carnival were worth $1,077,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Carnival by 87.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 543 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares during the period. Sontag Advisory LLC acquired a new stake in shares of Carnival during the fourth quarter worth $35,000. Doyle Wealth Management acquired a new stake in shares of Carnival during the fourth quarter worth $36,000. Berman Capital Advisors LLC acquired a new stake in shares of Carnival during the fourth quarter worth $39,000. Finally, First Mercantile Trust Co. lifted its holdings in shares of Carnival by 66.7% during the fourth quarter. First Mercantile Trust Co. now owns 1,000 shares of the company’s stock worth $49,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 74.98% of the company’s stock.
CCL has been the subject of several recent research reports. Deutsche Bank reaffirmed a “hold” rating and set a $59.00 price target on shares of Carnival in a report on Wednesday, March 27th. Zacks Investment Research downgraded Carnival from a “hold” rating to a “sell” rating in a report on Monday, May 20th. ValuEngine downgraded Carnival from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Nomura decreased their price target on Carnival from $66.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, Buckingham Research downgraded Carnival from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $65.00 to $54.00 in a report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. Carnival has an average rating of “Buy” and an average target price of $66.28.
NYSE:CCL opened at $53.39 on Thursday. The firm has a market capitalization of $28.14 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.10 and a beta of 1.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.22 and a quick ratio of 0.17. Carnival Corp has a 1 year low of $45.64 and a 1 year high of $67.69.
Carnival (NYSE:CCL) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Carnival had a return on equity of 12.30% and a net margin of 16.03%. Carnival’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 earnings per share. As a group, sell-side analysts anticipate that Carnival Corp will post 4.53 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, May 23rd. Carnival’s dividend payout ratio is currently 46.95%.
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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