Carnival Corp. (NYSE:CCL) had its price target decreased by stock analysts at Nomura to $59.00 in a research report issued on Tuesday. Nomura’s price objective would indicate a potential upside of 26.96% from the stock’s previous close.
A number of other analysts have also recently weighed in on the stock. Bank of America Corp. set a $53.40 price target on shares of Carnival Corp. and gave the stock a “buy” rating in a research note on Wednesday, September 21st. Zacks Investment Research upgraded shares of Carnival Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Sanford C. Bernstein initiated coverage on shares of Carnival Corp. in a research report on Thursday, September 8th. They set a “market perform” rating and a $51.00 price objective for the company. Morgan Stanley downgraded shares of Carnival Corp. from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $54.00 to $48.00 in a research report on Friday, September 2nd. Finally, Wells Fargo & Co. restated an “outperform” rating on shares of Carnival Corp. in a research report on Thursday, June 30th. One investment 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’s stock. The company has a consensus rating of “Buy” and a consensus target price of $57.17.
Carnival Corp. (NYSE:CCL) opened at 47.90 on Tuesday. Carnival Corp. has a one year low of $40.52 and a one year high of $55.77. The stock has a market cap of $35.69 billion, a PE ratio of 16.51 and a beta of 0.84. The company’s 50 day moving average is $46.41 and its 200 day moving average is $47.79.
Carnival Corp. (NYSE:CCL) last issued its quarterly earnings results on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 company earned $1.75 EPS. On average, equities research analysts expect that Carnival Corp. will post $8.18 EPS for the current 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 $0.35 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $1.40 annualized dividend and a dividend yield of 3.01%. Carnival Corp.’s dividend payout ratio is presently 48.44%.
Several large investors have recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd bought a new stake in Carnival Corp. during the first quarter valued at about $104,294,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 valued at $182,000 after buying an additional 162 shares in the last quarter. AXA boosted its stake in Carnival Corp. by 0.4% in the first quarter. AXA now owns 67,100 shares of the company’s stock valued at $3,541,000 after buying an additional 300 shares in the last quarter. Sterling Ridge Capital Management LP boosted its stake 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 valued at $3,421,000 after buying an additional 12,195 shares in the last quarter. Finally, Mitra Capital LLC bought a new stake in Carnival Corp. during the first quarter valued at about $7,506,000. 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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