Carnival Corp. (NYSE:CCL) posted its quarterly earnings data on Monday. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.03. The business earned $5.10 billion during the quarter. Carnival Corp. had a return on equity of 10.37% and a net margin of 14.00%. Carnival Corp.’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.75 earnings per share. Carnival Corp. updated its Q4 guidance to $0.55-0.59 EPS.
Shares of Carnival Corp. (NYSE:CCL) opened at 48.35 on Wednesday. The stock has a 50 day moving average price of $46.47 and a 200-day moving average price of $47.79. Carnival Corp. has a 52-week low of $40.52 and a 52-week high of $55.77. The firm has a market cap of $36.02 billion, a PE ratio of 16.66 and a beta of 0.84.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were given a $0.35 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.90%. Carnival Corp.’s payout ratio is 48.44%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCL. Primecap Management Co. CA boosted its position in Carnival Corp. by 0.4% in the first quarter. Primecap Management Co. CA now owns 22,515,830 shares of the company’s stock worth $1,188,160,000 after buying an additional 100,400 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in 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 during the period. 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. Finally, 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. Hedge funds and other institutional investors own 77.99% of the company’s stock.
Several equities research analysts have recently issued reports on CCL shares. Bank of America Corp. set a $53.40 price objective on Carnival Corp. and gave the company a “buy” rating in a research note on Wednesday, September 21st. Morgan Stanley downgraded Carnival Corp. from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $54.00 to $48.00 in a report on Friday, September 2nd. Sanford C. Bernstein started coverage on Carnival Corp. in a report on Thursday, September 8th. They issued a “market perform” rating and a $51.00 price target on the stock. Sterne Agee CRT started coverage on Carnival Corp. in a report on Tuesday, June 7th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Wells Fargo & Co. reiterated an “outperform” rating on shares of Carnival Corp. in a report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $56.92.
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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