Deutsche Bank AG restated their hold rating on shares of Carnival Corporation (NYSE:CCL) in a report issued on Sunday. Deutsche Bank AG currently has a $62.00 price objective on the stock, up from their prior price objective of $58.00.
Other analysts also recently issued reports about the company. Stifel Nicolaus increased their price objective on Carnival Corporation from $65.00 to $68.00 and gave the company a buy rating in a report on Wednesday, March 29th. Instinet increased their price objective on Carnival Corporation from $72.00 to $75.00 and gave the company a buy rating in a report on Friday. Barclays PLC increased their price objective on Carnival Corporation from $56.00 to $63.00 and gave the company an equal weight rating in a report on Wednesday, March 29th. William Blair restated an outperform rating on shares of Carnival Corporation in a report on Friday, June 9th. Finally, ValuEngine upgraded Carnival Corporation from a hold rating to a buy rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. Carnival Corporation presently has a consensus rating of Buy and an average price target of $59.50.
Carnival Corporation (CCL) traded up 1.16% on Friday, hitting $66.45. The stock had a trading volume of 4,000,199 shares. Carnival Corporation has a 12-month low of $42.94 and a 12-month high of $66.56. The company has a 50 day moving average of $63.28 and a 200 day moving average of $57.81. The company has a market capitalization of $48.24 billion, a PE ratio of 16.38 and a beta of 0.77.
Carnival Corporation (NYSE:CCL) last posted its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.89 billion. Carnival Corporation had a return on equity of 11.29% and a net margin of 16.48%. Carnival Corporation’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. On average, equities analysts expect that Carnival Corporation will post $3.74 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, May 26th were given a $0.40 dividend. This is a boost from Carnival Corporation’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $1.60 annualized dividend and a yield of 2.41%. Carnival Corporation’s dividend payout ratio (DPR) is presently 42.55%.
In related news, Director Richard Glasier sold 6,000 shares of the firm’s stock in a transaction dated Thursday, April 13th. The shares were sold at an average price of $58.29, for a total value of $349,740.00. Following the transaction, the director now owns 26,684 shares of the company’s stock, valued at approximately $1,555,410.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sir John Parker sold 19,965 shares of the stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $60.98, for a total transaction of $1,217,465.70. Following the completion of the sale, the director now owns 22,798 shares of the company’s stock, valued at approximately $1,390,222.04. The disclosure for this sale can be found here. 23.80% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Lodestar Investment Counsel LLC IL raised its stake in Carnival Corporation by 2.6% in the first quarter. Lodestar Investment Counsel LLC IL now owns 12,050 shares of the company’s stock valued at $710,000 after buying an additional 300 shares during the period. Sheaff Brock Investment Advisors LLC purchased a new stake in Carnival Corporation during the first quarter valued at approximately $525,000. AT Bancorp raised its stake in Carnival Corporation by 28.3% in the first quarter. AT Bancorp now owns 19,423 shares of the company’s stock valued at $1,144,000 after buying an additional 4,283 shares during the period. Private Wealth Partners LLC raised its stake in Carnival Corporation by 0.6% in the first quarter. Private Wealth Partners LLC now owns 15,650 shares of the company’s stock valued at $922,000 after buying an additional 100 shares during the period. Finally, Ropes Wealth Advisors LLC raised its stake in Carnival Corporation by 102.0% in the first quarter. Ropes Wealth Advisors LLC now owns 9,219 shares of the company’s stock valued at $543,000 after buying an additional 4,655 shares during the period. Hedge funds and other institutional investors own 78.81% of the company’s stock.
About Carnival Corporation
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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