Carnival Corp (NYSE:CCL) has been assigned an average rating of “Buy” from the twenty-two analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $66.28.
A number of analysts have recently weighed in on the stock. ValuEngine lowered shares of Carnival from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. Zacks Investment Research lowered shares of Carnival from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Deutsche Bank reiterated a “hold” rating and issued a $59.00 price objective on shares of Carnival in a research note on Wednesday, March 27th. Buckingham Research cut their price objective on shares of Carnival from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Finally, Goldman Sachs Group raised shares of Carnival from a “neutral” rating to a “buy” rating and increased their price target for the stock from $63.00 to $65.00 in a report on Wednesday, March 13th.
A number of institutional investors and hedge funds have recently bought and sold shares of CCL. Premia Global Advisors LLC purchased a new position in shares of Carnival in the first quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. increased its position in Carnival by 87.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 543 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares during the last quarter. Essex Savings Bank acquired a new stake in Carnival during the fourth quarter worth about $29,000. Advisory Alpha LLC acquired a new stake in Carnival during the first quarter worth about $29,000. Finally, Sontag Advisory LLC acquired a new stake in Carnival during the fourth quarter worth about $35,000. 74.96% of the stock is currently owned by institutional investors and hedge funds.
Carnival (NYSE:CCL) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.05. The firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.31 billion. Carnival had a net margin of 16.03% and a return on equity of 12.30%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. On average, sell-side analysts predict that Carnival will post 4.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.91%. The ex-dividend date is Thursday, May 23rd. Carnival’s payout ratio is 46.95%.
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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