Carnival Corp (NYSE:CCL) announced a quarterly dividend on Thursday, January 18th, RTT News reports. Stockholders of record on Friday, February 23rd will be paid a dividend of 0.45 per share on Friday, March 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, February 22nd.
Carnival has increased its dividend by an average of 17.0% annually over the last three years and has raised its dividend every year for the last 3 years. Carnival has a dividend payout ratio of 42.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Carnival to earn $4.88 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 36.9%.
Shares of Carnival (NYSE CCL) traded up $0.56 during mid-day trading on Friday, hitting $68.76. The stock had a trading volume of 2,041,906 shares, compared to its average volume of 3,300,000. Carnival has a one year low of $55.07 and a one year high of $72.70. The firm has a market cap of $48,950.00, a PE ratio of 19.15, a PEG ratio of 1.14 and a beta of 0.75. The company has a current ratio of 0.18, a quick ratio of 0.14 and a debt-to-equity ratio of 0.29.
Carnival (NYSE:CCL) last released its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.12. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $0.67 EPS. sell-side analysts predict that Carnival will post 4.28 EPS for the current year.
In other news, General Counsel Arnaldo Perez sold 15,166 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total value of $1,009,903.94. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stein Kruse sold 60,665 shares of the business’s stock in a transaction that occurred 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 have sold 336,364 shares of company stock worth $22,622,361 over the last ninety days. Company insiders own 23.80% of the company’s stock.
Several analysts have recently commented on the company. Wells Fargo & Co raised their target price on Carnival from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Morgan Stanley lifted their price objective on Carnival from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. ValuEngine raised Carnival from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Credit Suisse Group lifted their price objective on Carnival from $78.10 to $79.50 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Tigress Financial reissued a “buy” rating on shares of Carnival in a research report on Friday, December 22nd. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $73.82.
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Carnival Company Profile
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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