Carnival Corp. (NYSE:CCL) updated its fourth quarter earnings guidance on Monday. The company provided EPS guidance of $0.55-0.59 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.58.
Several analysts have issued reports on CCL shares. Morgan Stanley cut Carnival Corp. from an equal weight rating to an underweight rating and cut their price objective for the company from $54.00 to $48.00 in a research note on Friday, September 2nd. Tigress Financial upgraded Carnival Corp. from a neutral rating to a buy rating in a research note on Tuesday, May 31st. Sterne Agee CRT started coverage on Carnival Corp. in a research note on Tuesday, June 7th. They set a buy rating and a $60.00 price objective on the stock. Nomura cut their price objective on Carnival Corp. to $59.00 in a research note on Tuesday. Finally, Stifel Nicolaus restated a buy rating on shares of Carnival Corp. in a research note on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. Carnival Corp. currently has an average rating of Buy and an average price target of $56.92.
Shares of Carnival Corp. (NYSE:CCL) opened at 48.35 on Wednesday. The stock’s 50 day moving average price is $46.47 and its 200 day moving average price is $47.79. Carnival Corp. has a 1-year low of $40.52 and a 1-year high of $55.77. The company has a market capitalization of $36.02 billion, a price-to-earnings ratio of 16.66 and a beta of 0.84.
Carnival Corp. (NYSE:CCL) last announced its quarterly earnings results on Monday, September 26th. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. The firm earned $5.10 billion during the quarter. Carnival Corp. had a net margin of 14.00% and a return on equity of 10.37%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.75 EPS. Analysts expect that Carnival Corp. will post $8.18 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 26th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Wednesday, August 24th. Carnival Corp.’s dividend payout ratio is 48.44%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. boosted its position in shares of Carnival Corp. by 1.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 12,146,131 shares of the company’s stock worth $536,859,000 after buying an additional 131,094 shares in the last quarter. BlackRock Fund Advisors boosted its position in Carnival Corp. by 9.1% in the second quarter. BlackRock Fund Advisors now owns 5,376,313 shares of the company’s stock worth $237,633,000 after buying an additional 448,868 shares during the period. American Century Companies Inc. boosted 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 worth $185,608,000 after buying an additional 750,017 shares during the period. BlackRock Group LTD boosted its position in Carnival Corp. by 4.1% in the second quarter. BlackRock Group LTD now owns 3,866,114 shares of the company’s stock worth $170,881,000 after buying an additional 153,338 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted 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 worth $104,075,000 after buying an additional 1,085,807 shares during the period. Hedge funds and other institutional investors own 77.99% of the company’s stock.
Carnival Corp. Company Profile
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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