Deutsche Bank AG initiated coverage on shares of Carnival Corp. (NYSE:CCL) in a research note published on Thursday morning. The brokerage issued a hold rating and a $48.00 price objective on the stock.
CCL has been the subject of a number of other reports. Bank of America Corp. set a $53.40 target price on shares of Carnival Corp. and gave the company a buy rating in a research note on Wednesday, September 21st. Morgan Stanley lowered shares of Carnival Corp. from an equal weight rating to an underweight rating and reduced their target price for the company from $54.00 to $48.00 in a research note on Friday, September 2nd. Wells Fargo & Co. reissued a buy rating on shares of Carnival Corp. in a research note on Wednesday, September 28th. Nomura reduced their target price on shares of Carnival Corp. from $62.00 to $59.00 and set a buy rating for the company in a research note on Tuesday, September 27th. Finally, Sanford C. Bernstein initiated coverage on shares of Carnival Corp. in a research note on Thursday, September 8th. They set a market perform rating and a $51.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $55.97.
Carnival Corp. (NYSE:CCL) opened at 49.19 on Thursday. Carnival Corp. has a 52 week low of $40.52 and a 52 week high of $55.77. The stock’s 50 day moving average is $46.91 and its 200-day moving average is $47.80. The stock has a market capitalization of $35.91 billion, a PE ratio of 15.30 and a beta of 0.80.
Carnival Corp. (NYSE:CCL) last announced its quarterly earnings data on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. Carnival Corp. had a net margin of 15.10% and a return on equity of 10.76%. The business earned $5.10 billion during the quarter. During the same period in the prior year, the company earned $1.75 EPS. Carnival Corp.’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts forecast that Carnival Corp. will post $8.25 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, August 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.85%. Carnival Corp.’s dividend payout ratio is currently 42.94%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in Carnival Corp. during the second quarter valued at $101,474,000. Emerald Acquisition Ltd. bought a new position in Carnival Corp. during the second quarter valued at $90,931,000. Orbis Allan Gray Ltd bought a new position in Carnival Corp. during the first quarter valued at $104,294,000. Massachusetts Financial Services Co. MA raised its position in Carnival Corp. by 85.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,354,637 shares of the company’s stock valued at $104,075,000 after buying an additional 1,085,807 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Carnival Corp. by 21.7% in the second quarter. American Century Companies Inc. now owns 4,199,272 shares of the company’s stock valued at $185,608,000 after buying an additional 750,017 shares in the last quarter. Hedge funds and other institutional investors own 77.99% of the company’s stock.
About Carnival Corp.
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
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