Carnival Corp. (NYSE:CCL) had its price objective trimmed by Nomura from $62.00 to $59.00 in a research note issued to investors on Tuesday morning. The brokerage currently has a buy rating on the stock.
A number of other research firms have also weighed in on CCL. Morgan Stanley lowered shares of Carnival Corp. from an equal weight rating to an underweight rating and lowered their price target for the company from $54.00 to $48.00 in a report on Friday, September 2nd. Tigress Financial raised shares of Carnival Corp. from a neutral rating to a buy rating in a report on Tuesday, May 31st. Sterne Agee CRT began coverage on shares of Carnival Corp. in a report on Tuesday, June 7th. They set a buy rating and a $60.00 price target for the company. Bank of America Corp. set a $53.40 price target on shares of Carnival Corp. and gave the company a buy rating in a report on Wednesday, September 21st. Finally, Sanford C. Bernstein started coverage on shares of Carnival Corp. in a report on Thursday, September 8th. They set a market perform rating and a $51.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. Carnival Corp. presently has a consensus rating of Buy and a consensus price target of $55.97.
Shares of Carnival Corp. (NYSE:CCL) opened at 48.82 on Tuesday. The stock has a market capitalization of $35.64 billion, a PE ratio of 15.18 and a beta of 0.80. The stock has a 50 day moving average of $46.74 and a 200-day moving average of $47.81. Carnival Corp. has a one year low of $40.52 and a one year high of $55.77.
Carnival Corp. (NYSE:CCL) last released its quarterly earnings results on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.03. The business earned $5.10 billion during the quarter. Carnival Corp. had a net margin of 15.10% and a return on equity of 10.76%. Carnival Corp.’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.75 earnings per share. Equities analysts predict that Carnival Corp. will post $8.25 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 26th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, August 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.87%. Carnival Corp.’s dividend payout ratio (DPR) is 42.94%.
Several hedge funds have recently added to or reduced their stakes in the company. 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 worth $1,188,160,000 after buying an additional 100,400 shares during the period. 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 worth $536,859,000 after buying an additional 131,094 shares during the period. 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 worth $237,633,000 after buying an additional 448,868 shares during the period. 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 worth $185,608,000 after buying an additional 750,017 shares during the period. 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 worth $170,881,000 after buying an additional 153,338 shares during the period. 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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