Published On: Sun, Sep 18th, 2016

Carnival Corp. (CCL) Short Interest Up 18.6% in August

Carnival Corp. (NYSE:CCL) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 19,952,268 shares, a growth of 18.6% from the August 15th total of 16,816,201 shares. Based on an average daily trading volume, of 3,854,653 shares, the days-to-cover ratio is currently 5.2 days.
A number of hedge funds have recently added to or reduced their stakes in CCL. Primecap Management Co. CA increased its stake in Carnival Corp. by 0.4% in the first quarter. Primecap Management Co. CA now owns 22,515,830 shares of the company’s stock valued at $1,188,160,000 after buying an additional 100,400 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Carnival Corp. by 1.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 12,146,131 shares of the company’s stock valued at $536,859,000 after buying an additional 131,094 shares in the last quarter. BlackRock Fund Advisors increased its stake in Carnival Corp. by 9.1% in the second quarter. BlackRock Fund Advisors now owns 5,376,313 shares of the company’s stock valued at $237,633,000 after buying an additional 448,868 shares in the last quarter. American Century Companies Inc. increased its stake in Carnival Corp. by 21.7% in the second quarter. American Century Companies Inc. now owns 4,199,272 shares of the company’s stock valued at $185,608,000 after buying an additional 750,017 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in Carnival Corp. by 4.1% in the second quarter. BlackRock Group LTD now owns 3,866,114 shares of the company’s stock valued at $170,881,000 after buying an additional 153,338 shares in the last quarter. 77.99% of the stock is currently owned by institutional investors.
Several equities analysts recently issued reports on CCL shares. Wells Fargo & Co. reiterated an “outperform” rating on shares of Carnival Corp. in a research report on Thursday, June 30th. Zacks Investment Research cut shares of Carnival Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 8th. Morgan Stanley cut their price objective on shares of Carnival Corp. from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, May 26th. Nomura restated a “buy” rating and issued a $62.00 price objective on shares of Carnival Corp. in a report on Wednesday, June 29th. Finally, Barclays PLC restated a “hold” rating and issued a $56.00 price objective (down previously from $58.00) on shares of Carnival Corp. in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. Carnival Corp. has an average rating of “Buy” and an average target price of $57.35.

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Shares of Carnival Corp. (NYSE:CCL) opened at 46.25 on Friday. The stock has a 50 day moving average of $46.39 and a 200-day moving average of $47.86. Carnival Corp. has a 52 week low of $40.52 and a 52 week high of $55.77. The stock has a market capitalization of $34.46 billion, a PE ratio of 15.94 and a beta of 0.84.
Carnival Corp. (NYSE:CCL) last issued its quarterly earnings data on Tuesday, June 28th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.10. Carnival Corp. had a net margin of 14.00% and a return on equity of 10.37%. The firm had revenue of $3.70 billion for the quarter. During the same period in the previous year, the firm earned $0.25 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities research analysts expect that Carnival Corp. will post $8.11 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Wednesday, August 24th. Carnival Corp.’s payout ratio is currently 48.44%.
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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