Carnival (NYSE:CCL) Insider Sells $1,209,929.80 in Stock

Carnival Corporation (NYSE:CCL) insider Bettina Alejandra Deynes sold 43,058 shares of Carnival stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the completion of the sale, the insider directly owned 69,238 shares in the company, valued at approximately $1,945,587.80. The trade was a 38.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Carnival Stock Performance

NYSE:CCL traded down $0.51 during mid-day trading on Monday, reaching $27.55. The stock had a trading volume of 23,385,804 shares, compared to its average volume of 26,013,246. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.26 and a current ratio of 0.30. The firm has a market capitalization of $34.13 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.25 and a beta of 2.32. Carnival Corporation has a twelve month low of $22.11 and a twelve month high of $34.03. The business has a 50 day simple moving average of $26.35 and a 200 day simple moving average of $28.03.

Carnival (NYSE:CCL) last announced its quarterly earnings data on Friday, March 27th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 EPS. On average, analysts expect that Carnival Corporation will post 2.21 earnings per share for the current fiscal year.

Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a $0.15 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.2%. Carnival’s payout ratio is 26.67%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CCL shares. The Goldman Sachs Group cut their price objective on Carnival from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Wells Fargo & Company lowered their price target on shares of Carnival from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 15th. Mizuho increased their price target on shares of Carnival from $38.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, March 27th. William Blair reissued an “outperform” rating on shares of Carnival in a report on Tuesday, March 3rd. Finally, Citigroup lowered their target price on shares of Carnival from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Twenty research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Carnival presently has a consensus rating of “Moderate Buy” and an average target price of $34.80.

Institutional Investors Weigh In On Carnival

A number of large investors have recently added to or reduced their stakes in CCL. Glenmede Trust Co. NA increased its holdings in Carnival by 3.4% during the 1st quarter. Glenmede Trust Co. NA now owns 45,828 shares of the company’s stock valued at $1,186,000 after acquiring an additional 1,504 shares in the last quarter. Essential Partners LLC increased its stake in shares of Carnival by 204.8% during the 1st quarter. Essential Partners LLC now owns 5,493 shares of the company’s stock worth $142,000 after purchasing an additional 3,691 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Carnival by 19.3% during the 1st quarter. Janus Henderson Group PLC now owns 73,614 shares of the company’s stock worth $1,906,000 after purchasing an additional 11,884 shares during the last quarter. Bull Harbor Capital LLC purchased a new stake in Carnival in the 1st quarter valued at approximately $663,000. Finally, Strategic Investment Advisors MI lifted its stake in Carnival by 135.7% in the 1st quarter. Strategic Investment Advisors MI now owns 25,767 shares of the company’s stock valued at $670,000 after buying an additional 14,836 shares in the last quarter. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Company Profile

Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company’s core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.