Other equities analysts also recently issued research reports about the company. Stifel Nicolaus raised their target price on Carnival Corp from $62.00 to $65.00 and gave the stock a buy rating in a research report on Wednesday, March 22nd. Instinet raised their target price on Carnival Corp from $61.00 to $67.00 and gave the stock a buy rating in a research report on Wednesday, March 29th. Argus upgraded Carnival Corp from a hold rating to a buy rating and raised their target price for the stock from $56.03 to $64.00 in a research report on Monday, February 27th. Barclays PLC raised their price target on Carnival Corp from $56.00 to $63.00 and gave the company an equal weight rating in a report on Wednesday, March 29th. Finally, Zacks Investment Research raised Carnival Corp from a sell rating to a hold rating in a report on Tuesday, February 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $57.28.
Carnival Corp (NYSE:CCL) traded up 0.900% during trading on Thursday, reaching $63.335. The company had a trading volume of 953,101 shares. The company has a market capitalization of $45.98 billion, a P/E ratio of 15.607 and a beta of 0.73. Carnival Corp has a 12 month low of $42.94 and a 12 month high of $63.41. The stock has a 50 day moving average of $60.69 and a 200-day moving average of $56.03.
Carnival Corp (NYSE:CCL) last posted its earnings results on Tuesday, March 28th. The company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.78 billion. Carnival Corp had a return on equity of 11.35% and a net margin of 16.96%. Carnival Corp’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. Equities research analysts expect that Carnival Corp will post $3.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, May 26th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. This is a positive change from Carnival Corp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, May 24th. Carnival Corp’s payout ratio is 37.43%.
In related news, Director Richard Glasier sold 6,000 shares of Carnival Corp stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $58.29, for a total value of $349,740.00. Following the sale, the director now owns 26,684 shares of the company’s stock, valued at $1,555,410.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sir John Parker sold 19,965 shares of Carnival Corp stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $60.98, for a total value of $1,217,465.70. Following the completion of the sale, the director now directly owns 22,798 shares in the company, valued at approximately $1,390,222.04. The disclosure for this sale can be found here. Insiders own 22.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS increased its stake in Carnival Corp by 114.0% in the third quarter. Kornitzer Capital Management Inc. KS now owns 24,025 shares of the company’s stock worth $1,173,000 after buying an additional 12,800 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in Carnival Corp during the third quarter worth about $4,603,000. Dumont & Blake Investment Advisors LLC increased its stake in Carnival Corp by 8.4% in the third quarter. Dumont & Blake Investment Advisors LLC now owns 15,480 shares of the company’s stock worth $756,000 after buying an additional 1,195 shares in the last quarter. Advisors Capital Management LLC increased its stake in Carnival Corp by 0.3% in the third quarter. Advisors Capital Management LLC now owns 192,958 shares of the company’s stock worth $9,420,000 after buying an additional 632 shares in the last quarter. Finally, Granite Investment Advisors Inc. increased its stake in Carnival Corp by 0.5% in the third quarter. Granite Investment Advisors Inc. now owns 109,550 shares of the company’s stock worth $5,348,000 after buying an additional 560 shares in the last quarter. 79.45% 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 of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
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