Buckingham Research restated their buy rating on shares of Carnival (NYSE:CCL) in a research report report published on Wednesday, December 20th, Marketbeat reports. They currently have a $84.00 price objective on the stock, up from their prior price objective of $80.00.
CCL has been the subject of a number of other research reports. Zacks Investment Research raised Carnival from a hold rating to a buy rating and set a $77.00 price objective for the company in a research note on Tuesday, September 5th. Credit Suisse Group lowered Carnival from an outperform rating to a neutral rating and dropped their price objective for the stock from $78.00 to $70.00 in a research note on Friday, September 15th. Stifel Nicolaus increased their price target on Carnival from $79.00 to $80.00 and gave the company a buy rating in a research note on Wednesday, December 20th. Finally, SunTrust Banks reissued a buy rating and set a $84.00 price target (up from $72.00) on shares of Carnival in a research note on Tuesday, December 19th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $72.78.
Carnival (CCL) traded up $0.89 during mid-day trading on Wednesday, hitting $69.69. The stock had a trading volume of 3,244,000 shares, compared to its average volume of 3,170,000. The stock has a market capitalization of $49,900.00, a PE ratio of 19.41, a P/E/G ratio of 1.17 and a beta of 0.73. The company has a quick ratio of 0.14, a current ratio of 0.18 and a debt-to-equity ratio of 0.29. Carnival has a 52-week low of $52.65 and a 52-week high of $69.89.
Carnival (NYSE:CCL) last posted its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. Carnival’s revenue for the quarter was up 8.2% compared to the same quarter last year. analysts expect that Carnival will post 4.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 24th were given a $0.45 dividend. This is a boost from Carnival’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.58%. Carnival’s dividend payout ratio (DPR) is presently 44.57%.
In related news, CEO Arnold W. Donald sold 90,903 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $67.41, for a total value of $6,127,771.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stein Kruse sold 60,665 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total value of $4,039,682.35. The disclosure for this sale can be found here. Insiders sold a total of 354,545 shares of company stock valued at $23,694,789 in the last three months. Insiders own 23.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in CCL. Almanack Investment Partners LLC. purchased a new position in shares of Carnival in the 2nd quarter valued at about $117,000. Grove Bank & Trust boosted its holdings in Carnival by 367.8% in the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock worth $131,000 after buying an additional 1,600 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Carnival by 109.4% in the 2nd quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock worth $171,000 after buying an additional 1,368 shares during the last quarter. Smithfield Trust Co. boosted its holdings in Carnival by 826.2% in the 3rd quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock worth $182,000 after buying an additional 2,520 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC boosted its holdings in Carnival by 1.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock worth $191,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.
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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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