Palouse Capital Management Inc. acquired a new stake in shares of Carnival Corp. (NYSE:CCL) during the second quarter, Holdings Channel reports. The institutional investor acquired 70,163 shares of the company’s stock, valued at approximately $3,101,000.
A number of other institutional investors have also made changes to their positions in the stock. Capital Analysts LLC increased its position in shares of Carnival Corp. by 3.7% in the second quarter. Capital Analysts LLC now owns 3,316 shares of the company’s stock valued at $147,000 after buying an additional 118 shares during the period. Hall Laurie J Trustee increased its position in shares of Carnival Corp. by 6.9% in the second quarter. Hall Laurie J Trustee now owns 3,550 shares of the company’s stock valued at $162,000 after buying an additional 230 shares during the period. Wunderlich Capital Managemnt increased its position in shares of Carnival Corp. by 24.4% in the first quarter. Wunderlich Capital Managemnt now owns 3,684 shares of the company’s stock valued at $194,000 after buying an additional 723 shares during the period. New England Research & Management Inc. acquired a new position in shares of Carnival Corp. during the second quarter valued at approximately $225,000. Finally, Opera Trading Capital acquired a new position in shares of Carnival Corp. during the first quarter valued at approximately $231,000. 77.99% of the stock is currently owned by institutional investors.
Carnival Corp. (NYSE:CCL) traded down 1.67% during mid-day trading on Monday, reaching $46.47. The company had a trading volume of 10,295,193 shares. The firm’s 50 day moving average price is $46.43 and its 200-day moving average price is $47.77. The company has a market capitalization of $34.62 billion, a price-to-earnings ratio of 16.01 and a beta of 0.84. Carnival Corp. has a 12 month low of $40.52 and a 12 month high of $55.77.
Carnival Corp. (NYSE:CCL) last issued its earnings results on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. The firm earned $5.10 billion during the quarter, compared to analyst estimates of $5.06 billion. Carnival Corp. had a net margin of 14.00% and a return on equity of 10.37%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.75 earnings per share. Equities research analysts anticipate that Carnival Corp. will post $8.18 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Wednesday, August 24th. Carnival Corp.’s payout ratio is 48.44%.
Several equities analysts have commented on the company. Sterne Agee CRT assumed coverage on Carnival Corp. in a research report on Tuesday, June 7th. They issued a “buy” rating and a $60.00 price objective on the stock. Tigress Financial raised Carnival Corp. from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 31st. Sanford C. Bernstein began coverage on Carnival Corp. in a research report on Thursday, September 8th. They set a “market perform” rating and a $51.00 price target on the stock. Morgan Stanley downgraded Carnival Corp. from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $54.00 to $48.00 in a research report on Friday, September 2nd. Finally, Goldman Sachs Group Inc. increased their price target on Carnival Corp. from $46.50 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. Carnival Corp. has an average rating of “Buy” and a consensus target price of $57.32.
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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