Carnival’s (CUK) Neutral Rating Reiterated at Bank of America

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Bank of America reissued their neutral rating on shares of Carnival (NYSE:CUK) in a research note issued to investors on Monday, MarketBeat reports.

Shares of CUK stock opened at $56.31 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.19 and a current ratio of 0.24. The firm has a market capitalization of $11.58 billion, a price-to-earnings ratio of 13.22 and a beta of 1.22. Carnival has a fifty-two week low of $45.17 and a fifty-two week high of $70.28.

Carnival (NYSE:CUK) last posted its quarterly earnings data on Thursday, December 20th. The company reported $0.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.70. Carnival had a net margin of 16.70% and a return on equity of 12.45%. The firm had revenue of $4.46 billion for the quarter. On average, analysts forecast that Carnival will post 4.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, February 22nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.55%. Carnival’s payout ratio is 46.95%.

In other news, CEO Michael Olaf Thamm sold 6,678 shares of the business’s stock in a transaction that occurred on Friday, January 11th. The shares were sold at an average price of $51.68, for a total transaction of $345,119.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Carnival by 109.2% in the 4th quarter. Geode Capital Management LLC now owns 22,558 shares of the company’s stock worth $1,098,000 after buying an additional 11,775 shares during the period. Blueshift Asset Management LLC bought a new position in Carnival in the fourth quarter valued at about $263,000. Freestone Capital Holdings LLC acquired a new position in Carnival in the 4th quarter valued at $307,000. Bank of New York Mellon Corp increased its position in shares of Carnival by 5.1% during the fourth quarter. Bank of New York Mellon Corp now owns 10,984 shares of the company’s stock valued at $535,000 after acquiring an additional 530 shares during the last quarter. Finally, Hansberger Growth Investors LP boosted its position in Carnival by 2.3% during the 4th quarter. Hansberger Growth Investors LP now owns 85,210 shares of the company’s stock valued at $4,152,000 after acquiring an additional 1,876 shares in the last quarter. 5.22% of the stock is currently owned by institutional investors.

Carnival Company Profile

Carnival plc 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.

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