Carnival Corp (NYSE:CCL) has been assigned a consensus rating of “Buy” from the twenty-one analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $68.94.
CCL has been the topic of a number of research reports. Wells Fargo & Co decreased their price target on shares of Carnival from $76.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, January 10th. Zacks Investment Research raised shares of Carnival from a “sell” rating to a “hold” rating in a research note on Monday, December 10th. SunTrust Banks decreased their price target on shares of Carnival from $77.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, December 21st. Barclays decreased their price target on shares of Carnival from $70.00 to $69.00 and set an “overweight” rating on the stock in a research note on Friday, December 21st. Finally, Morgan Stanley decreased their price target on shares of Carnival from $63.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, January 7th.
Shares of CCL stock traded up $0.48 during mid-day trading on Friday, hitting $57.01. 1,577,591 shares of the stock were exchanged, compared to its average volume of 3,545,075. The company has a quick ratio of 0.19, a current ratio of 0.24 and a debt-to-equity ratio of 0.32. Carnival has a 52-week low of $45.64 and a 52-week high of $69.11. The firm has a market cap of $29.79 billion, a P/E ratio of 13.38, a PEG ratio of 0.90 and a beta of 1.26.
Carnival (NYSE:CCL) last issued its quarterly earnings results on Thursday, December 20th. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.46 billion. Carnival had a net margin of 16.70% and a return on equity of 12.44%. Carnival’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $0.63 EPS. On average, analysts anticipate that Carnival will post 4.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 22nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Thursday, February 21st. Carnival’s dividend payout ratio (DPR) is 46.95%.
In other news, General Counsel Arnaldo Perez sold 2,290 shares of the firm’s stock in a transaction that occurred on Friday, January 11th. The shares were sold at an average price of $52.27, for a total transaction of $119,698.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stein Kruse sold 6,966 shares of the firm’s stock in a transaction that occurred on Friday, January 11th. The stock was sold at an average price of $52.27, for a total transaction of $364,112.82. The disclosure for this sale can be found here. Insiders have sold a total of 71,792 shares of company stock valued at $4,053,366 in the last 90 days. Insiders own 24.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CCL. American Century Companies Inc. lifted its position in shares of Carnival by 103.8% during the 4th quarter. American Century Companies Inc. now owns 3,707,605 shares of the company’s stock worth $182,785,000 after purchasing an additional 1,888,587 shares during the last quarter. Norges Bank purchased a new stake in shares of Carnival during the 4th quarter worth $209,889,000. Actinver Wealth Management Inc. purchased a new stake in shares of Carnival during the 4th quarter worth $217,000. Teacher Retirement System of Texas lifted its position in shares of Carnival by 1.2% during the 4th quarter. Teacher Retirement System of Texas now owns 672,431 shares of the company’s stock worth $33,151,000 after purchasing an additional 7,742 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Carnival during the 4th quarter worth $390,000. Institutional investors and hedge funds own 75.58% of the company’s stock.
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
Further Reading: Liquidity
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