Carnival Corp. (NYSE:CCL)‘s stock had its “buy” rating reiterated by equities research analysts at Stifel Nicolaus in a report released on Tuesday. They currently have a $60.00 price target on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 23.00% from the company’s previous close.
Several other equities analysts have also recently issued reports on the stock. Nomura lowered their price objective on shares of Carnival Corp. from $62.00 to $59.00 and set a “buy” rating on the stock in a research note on Tuesday. Bank of America Corp. set a $53.40 target price on shares of Carnival Corp. and gave the stock a “buy” rating in a report on Wednesday, September 21st. Zacks Investment Research upgraded shares of Carnival Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Sanford C. Bernstein assumed coverage on shares of Carnival Corp. in a report on Thursday, September 8th. They issued a “market perform” rating and a $51.00 target price for the company. Finally, Morgan Stanley cut shares of Carnival Corp. from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $54.00 to $48.00 in a report on Friday, September 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Carnival Corp. currently has an average rating of “Buy” and an average target price of $56.57.
Shares of Carnival Corp. (NYSE:CCL) opened at 48.78 on Tuesday. The firm has a market cap of $36.34 billion, a price-to-earnings ratio of 16.81 and a beta of 0.84. The stock has a 50 day moving average of $46.57 and a 200 day moving average of $47.80. Carnival Corp. has a 52-week low of $40.52 and a 52-week high of $55.77.
Carnival Corp. (NYSE:CCL) last announced its quarterly earnings data on Monday, September 26th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.03. The company had revenue of $5.10 billion for the quarter. Carnival Corp. had a net margin of 15.10% and a return on equity of 10.76%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.75 EPS. Equities analysts predict that Carnival Corp. will post $8.18 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Wednesday, August 24th. Carnival Corp.’s dividend payout ratio (DPR) is currently 42.94%.
Institutional investors have recently made changes to their positions in the company. Primecap Management Co. CA raised its position in shares of 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. raised 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 during the period. BlackRock Fund Advisors raised its position in shares of 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. raised its position in shares of 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 raised its position in shares of 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. 77.99% of the stock is currently owned by institutional investors and hedge funds.
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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