The Carnival Corp. (CCL) Receives New Coverage from Analysts at Macquarie

The Carnival Corp. (CCL) Receives New Coverage from Analysts at Macquarie

Equities researchers at Macquarie assumed coverage on shares of Carnival Corp. (NYSE:CCL) in a note issued to investors on Tuesday. The brokerage set a “neutral” rating and a $55.00 price target on the stock. Macquarie’s price objective would indicate a potential upside of 15.18% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Nomura dropped their price objective on Carnival Corp. from $62.00 to $59.00 and set a “buy” rating for the company in a report on Tuesday, September 27th. Bank of America Corp. set a $53.40 price objective on Carnival Corp. and gave the company a “buy” rating in a report on Wednesday, September 21st. Sterne Agee CRT assumed coverage on Carnival Corp. in a report on Tuesday, June 7th. They issued a “buy” rating and a $60.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 price objective on shares of Carnival Corp. in a report on Tuesday, September 27th. Finally, Buckingham Research upped their price objective on Carnival Corp. from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, September 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $55.92.

Shares of Carnival Corp. (NYSE:CCL) traded down 2.21% during midday trading on Tuesday, hitting $47.75. The stock had a trading volume of 5,033,252 shares. The company has a market capitalization of $34.86 billion, a PE ratio of 14.85 and a beta of 0.80. Carnival Corp. has a one year low of $40.52 and a one year high of $55.77. The firm’s 50-day moving average is $47.06 and its 200 day moving average is $47.80.

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Carnival Corp. (NYSE:CCL) last issued its quarterly earnings results on Monday, September 26th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.03. Carnival Corp. had a return on equity of 10.76% and a net margin of 15.10%. The business had revenue of $5.10 billion for the quarter. During the same period last year, the company earned $1.75 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. Equities analysts expect that Carnival Corp. will post $8.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, August 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.93%. Carnival Corp.’s dividend payout ratio (DPR) is currently 42.94%.

In other news, CFO David Bernstein sold 4,030 shares of the stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $49.18, for a total transaction of $198,195.40. Following the transaction, the chief financial officer now owns 47,256 shares in the company, valued at $2,324,050.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 22.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services Inc raised its position in shares of Carnival Corp. by 8.9% in the first quarter. Commonwealth Equity Services Inc now owns 17,086 shares of the company’s stock worth $902,000 after buying an additional 1,403 shares during the period. IFP Advisors Inc raised its position in shares of Carnival Corp. by 54.0% in the first quarter. IFP Advisors Inc now owns 5,396 shares of the company’s stock worth $285,000 after buying an additional 1,891 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Carnival Corp. by 17.3% in the first quarter. TIAA CREF Investment Management LLC now owns 2,340,640 shares of the company’s stock worth $123,516,000 after buying an additional 345,560 shares during the period. Teachers Advisors Inc. raised its position in shares of Carnival Corp. by 3.4% in the first quarter. Teachers Advisors Inc. now owns 851,409 shares of the company’s stock worth $44,929,000 after buying an additional 28,237 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in Carnival Corp. by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 12,015,037 shares of the company’s stock worth $634,034,000 after buying an additional 83,092 shares during the period. Institutional investors own 77.99% of the company’s stock.

About Carnival Corp.

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