Carnival Corp. (NYSE:CCL) has been assigned a $53.40 target price by investment analysts at Bank of America Corp. in a research report issued on Wednesday. The firm currently has a a “buy” rating on the stock. Bank of America Corp.’s target price indicates a potential upside of 15.61% from the company’s current price.
Other research analysts have also issued reports about the company. Wells Fargo & Co. reiterated an “outperform” rating on shares of Carnival Corp. in a research report on Thursday, June 30th. Zacks Investment Research lowered Carnival Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 8th. Morgan Stanley lowered their price objective on Carnival Corp. from $60.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, May 26th. Nomura reiterated a “buy” rating and issued a $62.00 price objective on shares of Carnival Corp. in a research report on Wednesday, June 29th. Finally, Barclays PLC reiterated a “hold” rating and issued a $56.00 price objective (down from $58.00) on shares of Carnival Corp. in a research report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $57.16.
Carnival Corp. (NYSE:CCL) traded down 1.2542% on Wednesday, hitting $45.6107. The stock had a trading volume of 2,625,154 shares. Carnival Corp. has a 52-week low of $40.52 and a 52-week high of $55.77. The firm’s 50-day moving average is $46.35 and its 200-day moving average is $47.79. The company has a market cap of $33.98 billion, a P/E ratio of 15.7170 and a beta of 0.84.
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Carnival Corp. (NYSE:CCL) last posted its quarterly earnings results on Tuesday, June 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. The business earned $3.70 billion during the quarter. Carnival Corp. had a return on equity of 10.37% and a net margin of 14.00%. Carnival Corp.’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. Equities research analysts anticipate that Carnival Corp. will post $8.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Wednesday, August 24th. Carnival Corp.’s dividend payout ratio is currently 48.44%.
Several institutional investors have recently added to or reduced their stakes in the company. Sun Life Financial INC bought a new position in Carnival Corp. during the first quarter worth about $116,305,000. Capital Analysts LLC raised its position in Carnival Corp. by 3.7% in the second quarter. Capital Analysts LLC now owns 3,316 shares of the company’s stock worth $147,000 after buying an additional 118 shares in the last quarter. Hall Laurie J Trustee raised its position in Carnival Corp. by 6.9% in the second quarter. Hall Laurie J Trustee now owns 3,550 shares of the company’s stock worth $162,000 after buying an additional 230 shares in the last quarter. Wunderlich Capital Managemnt raised its position in Carnival Corp. by 24.4% in the first quarter. Wunderlich Capital Managemnt now owns 3,684 shares of the company’s stock worth $194,000 after buying an additional 723 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Carnival Corp. by 4.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the company’s stock worth $182,000 after buying an additional 162 shares in the last quarter. 77.99% of the stock is currently owned by hedge funds and other institutional investors.
Carnival Corp. Company Profile
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
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