Shares of Carnival Corporation (NYSE:CCL – Get Free Report) have earned an average rating of “Moderate Buy” from the twenty-five research firms that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $34.1333.
CCL has been the subject of several research reports. Barclays decreased their price objective on shares of Carnival from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Sanford C. Bernstein decreased their price objective on shares of Carnival from $33.00 to $28.70 and set a “market perform” rating for the company in a report on Monday, March 30th. Zacks Research upgraded shares of Carnival from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. HSBC raised shares of Carnival from a “hold” rating to a “buy” rating and reduced their target price for the stock from $33.60 to $30.10 in a research report on Monday, March 30th. Finally, Susquehanna reduced their target price on shares of Carnival from $40.00 to $30.00 and set a “positive” rating on the stock in a research report on Monday, March 23rd.
Read Our Latest Research Report on CCL
Insider Buying and Selling at Carnival
Institutional Trading of Carnival
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Carnival by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 128,133,282 shares of the company’s stock valued at $3,913,190,000 after purchasing an additional 368,445 shares during the last quarter. State Street Corp grew its position in Carnival by 1.5% during the 4th quarter. State Street Corp now owns 48,074,173 shares of the company’s stock valued at $1,468,185,000 after purchasing an additional 704,433 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Carnival by 0.8% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 36,109,629 shares of the company’s stock valued at $1,043,929,000 after purchasing an additional 291,864 shares during the last quarter. Causeway Capital Management LLC grew its position in Carnival by 9.6% during the 3rd quarter. Causeway Capital Management LLC now owns 31,912,001 shares of the company’s stock valued at $922,576,000 after purchasing an additional 2,783,927 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Carnival by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 29,450,412 shares of the company’s stock valued at $896,104,000 after purchasing an additional 683,311 shares during the last quarter. 67.19% of the stock is owned by hedge funds and other institutional investors.
Carnival Trading Up 4.8%
NYSE:CCL opened at $27.99 on Friday. The company has a fifty day moving average of $26.22 and a 200 day moving average of $28.02. Carnival has a 52 week low of $22.11 and a 52 week high of $34.03. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $34.67 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.19 and a beta of 2.33.
Carnival (NYSE:CCL – Get Free Report) last issued its quarterly earnings data on Friday, March 27th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. Carnival had a net margin of 11.48% and a return on equity of 26.92%. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.13 billion. During the same period in the prior year, the business earned $0.13 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts predict that Carnival will post 2.21 earnings per share for the current year.
Carnival Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. Carnival’s dividend payout ratio is currently 26.67%.
About Carnival
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.
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