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.
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.