Carnival Corp (CCL) to Issue Quarterly Dividend of $0.45

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.

Dividend History for Carnival (NYSE:CCL)

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