Carnival Corp. (NYSE:CCL) has been given a $53.40 price target by analysts at Bank of America Corp. in a research note issued on Wednesday. The firm presently has a a “buy” rating on the stock. Bank of America Corp.’s price objective suggests a potential upside of 14.01% from the stock’s previous close.
Several other brokerages have also recently issued reports on CCL. Wells Fargo & Co. restated an “outperform” rating on shares of Carnival Corp. in a report on Thursday, June 30th. Zacks Investment Research cut shares of Carnival Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Morgan Stanley dropped their price target on shares of Carnival Corp. from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 26th. Nomura reiterated a “buy” rating and set a $62.00 price target on shares of Carnival Corp. in a research note on Wednesday, June 29th. Finally, Barclays PLC reiterated a “hold” rating and set a $56.00 price target (down previously from $58.00) on shares of Carnival Corp. in a research note on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. Carnival Corp. presently has an average rating of “Buy” and a consensus price target of $57.16.
Carnival Corp. (NYSE:CCL) opened at 46.84 on Wednesday. Carnival Corp. has a 12 month low of $40.52 and a 12 month high of $55.77. The company has a 50-day moving average of $46.40 and a 200 day moving average of $47.77. The stock has a market capitalization of $34.90 billion, a price-to-earnings ratio of 16.14 and a beta of 0.84.
Carnival Corp. (NYSE:CCL) last issued its earnings results on Tuesday, June 28th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.10. Carnival Corp. had a net margin of 14.00% and a return on equity of 10.37%. The company had revenue of $3.70 billion for the quarter. During the same quarter in the prior year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Carnival Corp. will post $8.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were paid 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 2.99%. Carnival Corp.’s dividend payout ratio is presently 48.44%.
Several institutional investors have recently added to or reduced their stakes in CCL. Orbis Allan Gray Ltd purchased a new position in Carnival Corp. during the first quarter worth approximately $104,294,000. Northwestern Mutual Wealth Management Co. boosted its position in Carnival Corp. by 4.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the company’s stock worth $182,000 after buying an additional 162 shares in the last quarter. AXA boosted its position in Carnival Corp. by 0.4% in the first quarter. AXA now owns 67,100 shares of the company’s stock worth $3,541,000 after buying an additional 300 shares in the last quarter. Sterling Ridge Capital Management LP boosted its position in Carnival Corp. by 23.2% in the first quarter. Sterling Ridge Capital Management LP now owns 64,833 shares of the company’s stock worth $3,421,000 after buying an additional 12,195 shares in the last quarter. Finally, Mitra Capital LLC purchased a new position in Carnival Corp. during the first quarter worth approximately $7,506,000. 77.99% of the stock is owned by hedge funds and other institutional investors.
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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