A number of other research firms also recently weighed in on CCL. Bank of America Corp. set a $53.40 price target on Carnival Corp. and gave the stock a buy rating in a research note on Wednesday, September 21st. Wells Fargo & Co. reaffirmed an outperform rating on shares of Carnival Corp. in a research note on Thursday, June 30th. Zacks Investment Research downgraded Carnival Corp. from a hold rating to a sell rating in a research note on Friday, July 8th. Nomura reaffirmed a buy rating and set a $62.00 price target on shares of Carnival Corp. in a research note on Wednesday, June 29th. Finally, Morgan Stanley reaffirmed an overweight rating on shares of Carnival Corp. in a research note on Sunday, July 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $55.97.
Carnival Corp. (NYSE:CCL) opened at 48.26 on Tuesday. The stock has a market capitalization of $35.95 billion, a PE ratio of 16.63 and a beta of 0.84. The stock’s 50 day moving average price is $46.65 and its 200 day moving average price is $47.80. Carnival Corp. has a 1-year low of $40.52 and a 1-year high of $55.77.
Carnival Corp. (NYSE:CCL) last posted its quarterly earnings results on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, topping the Zacks’ 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 company earned $5.10 billion during the quarter. During the same period last year, the business earned $1.75 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts forecast that Carnival Corp. will post $8.29 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.90%. The ex-dividend date was Wednesday, August 24th. Carnival Corp.’s dividend payout ratio is 42.94%.
A number of hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can acquired a new position in shares of Carnival Corp. during the second quarter valued at about $101,474,000. Emerald Acquisition Ltd. acquired a new position in shares of Carnival Corp. during the second quarter valued at about $90,931,000. Orbis Allan Gray Ltd acquired a new position in shares of Carnival Corp. during the first quarter valued at about $104,294,000. Massachusetts Financial Services Co. MA increased its position in shares of Carnival Corp. by 85.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,354,637 shares of the company’s stock valued at $104,075,000 after buying an additional 1,085,807 shares during the last quarter. Finally, CQS Cayman LP increased its position in shares of Carnival Corp. by 89.0% in the first quarter. CQS Cayman LP now owns 1,595,289 shares of the company’s stock valued at $83,927,000 after buying an additional 751,372 shares during the last quarter. 77.99% of the stock is currently owned by institutional investors and hedge funds.
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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