Carnival Corp. (NYSE:CCL)‘s stock had its “buy” rating restated by investment analysts at Wells Fargo & Co. in a research note issued on Wednesday.
CCL has been the subject of a number of other research reports. Sterne Agee CRT assumed coverage on Carnival Corp. in a report on Tuesday, June 7th. They issued a “buy” rating and a $60.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 price target on shares of Carnival Corp. in a report on Tuesday. Tigress Financial raised Carnival Corp. from a “neutral” rating to a “buy” rating in a report on Tuesday, May 31st. Sanford C. Bernstein assumed coverage on Carnival Corp. in a report on Thursday, September 8th. They issued a “market perform” rating and a $51.00 price target for the company. Finally, Morgan Stanley downgraded Carnival Corp. from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $54.00 to $48.00 in a report on Friday, September 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.97.
Carnival Corp. (NYSE:CCL) opened at 48.26 on Wednesday. The firm has a 50 day moving average price of $46.65 and a 200 day moving average price of $47.80. The stock has a market capitalization of $35.95 billion, a P/E ratio of 16.63 and a beta of 0.84. Carnival Corp. has a 52 week low of $40.52 and a 52 week high of $55.77.
Carnival Corp. (NYSE:CCL) last issued its quarterly earnings results on Monday, September 26th. The company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. The firm earned $5.10 billion during the quarter. Carnival Corp. had a return on equity of 10.76% and a net margin of 15.10%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.75 EPS. Equities research analysts predict that Carnival Corp. will post $8.29 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Wednesday, August 24th. Carnival Corp.’s dividend payout ratio is presently 42.94%.
Several large investors have recently added to or reduced their stakes in CCL. Raymond James Trust N.A. bought a new stake in Carnival Corp. during the first quarter valued at $300,000. Glenmede Trust Co. NA raised its stake in Carnival Corp. by 8.0% in the first quarter. Glenmede Trust Co. NA now owns 133,274 shares of the company’s stock valued at $7,032,000 after buying an additional 9,824 shares in the last quarter. Commonwealth Equity Services Inc raised its stake in Carnival Corp. by 8.9% in the first quarter. Commonwealth Equity Services Inc now owns 17,086 shares of the company’s stock valued at $902,000 after buying an additional 1,403 shares in the last quarter. IFP Advisors Inc raised its stake in Carnival Corp. by 54.0% in the first quarter. IFP Advisors Inc now owns 5,396 shares of the company’s stock valued at $285,000 after buying an additional 1,891 shares in the last quarter. Finally, CQS Cayman LP raised its stake in Carnival Corp. by 89.0% in the first quarter. CQS Cayman LP now owns 1,595,289 shares of the company’s stock valued at $83,927,000 after buying an additional 751,372 shares in the last quarter. 77.99% of the stock is 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.
Receive News & Ratings for Carnival Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival Corp. and related companies with MarketBeat.com's FREE daily email newsletter.