Published On: Tue, Sep 13th, 2016

Carnival Corp. (CCL) Shares Up 0.6%

Shares of Carnival Corp. (NYSE:CCL) shot up 0.6% during mid-day trading on Tuesday . The company traded as high as $45.74 and last traded at $45.49, with a volume of 5,766,230 shares traded. The stock had previously closed at $45.22.
Several brokerages have recently weighed in on CCL. Zacks Investment Research cut Carnival Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 8th. Goldman Sachs Group Inc. lifted their price target on Carnival Corp. from $46.50 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, June 29th. Barclays PLC reiterated a “hold” rating and issued a $56.00 price target (down from $58.00) on shares of Carnival Corp. in a research report on Wednesday, June 29th. Nomura reiterated a “buy” rating and issued a $62.00 price target on shares of Carnival Corp. in a research report on Wednesday, June 29th. Finally, Tigress Financial upgraded Carnival Corp. from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. Carnival Corp. currently has a consensus rating of “Buy” and an average target price of $57.35.
The stock’s 50-day moving average price is $46.63 and its 200 day moving average price is $47.99. The firm has a market cap of $33.88 billion, a P/E ratio of 15.67 and a beta of 0.84.

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Carnival Corp. (NYSE:CCL) last issued its quarterly earnings results on Tuesday, June 28th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.10. Carnival Corp. had a return on equity of 10.37% and a net margin of 14.00%. The business earned $3.70 billion during the quarter. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts forecast that Carnival Corp. will post $8.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, August 26th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.10%. Carnival Corp.’s payout ratio is 48.44%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Orbis Allan Gray Ltd purchased a new position in shares of Carnival Corp. during the first quarter worth $104,294,000. AXA raised its position in shares of Carnival Corp. by 0.4% in the first quarter. AXA now owns 67,100 shares of the company’s stock worth $3,541,000 after buying an additional 300 shares during the last quarter. Sterling Ridge Capital Management LP raised its position in shares of Carnival Corp. by 23.2% in the first quarter. Sterling Ridge Capital Management LP now owns 64,833 shares of the company’s stock worth $3,421,000 after buying an additional 12,195 shares during the last quarter. Mitra Capital LLC purchased a new position in shares of Carnival Corp. during the first quarter worth $7,506,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 77.99% of the company’s stock.
About Carnival Corp.
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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