Carnival Corp (NYSE:CCL) Short Interest Update

Carnival Corp (NYSE:CCL) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 15,017,300 shares, an increase of 8.5% from the May 15th total of 13,845,900 shares. Currently, 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,330,000 shares, the short-interest ratio is presently 3.5 days.

In other Carnival news, CEO Arnold W. Donald purchased 22,050 shares of Carnival stock in a transaction that occurred on Tuesday, June 25th. The shares were bought at an average price of $45.23 per share, for a total transaction of $997,321.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Randall J. Weisenburger purchased 20,000 shares of Carnival stock in a transaction that occurred on Wednesday, July 3rd. The stock was acquired at an average price of $46.50 per share, for a total transaction of $930,000.00. The disclosure for this purchase can be found here. Company insiders own 24.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake in Carnival by 20.9% during the fourth quarter. Victory Capital Management Inc. now owns 7,238 shares of the company’s stock worth $357,000 after acquiring an additional 1,252 shares during the last quarter. Piedmont Investment Advisors Inc. increased its stake in Carnival by 42.0% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 5,956 shares of the company’s stock worth $294,000 after acquiring an additional 1,761 shares during the last quarter. Eaton Vance Management increased its stake in Carnival by 2.4% during the fourth quarter. Eaton Vance Management now owns 24,489 shares of the company’s stock worth $1,207,000 after acquiring an additional 575 shares during the last quarter. LPL Financial LLC increased its stake in Carnival by 1.3% during the fourth quarter. LPL Financial LLC now owns 70,423 shares of the company’s stock worth $3,472,000 after acquiring an additional 911 shares during the last quarter. Finally, Doyle Wealth Management acquired a new stake in Carnival during the fourth quarter worth about $36,000. 74.89% of the stock is currently owned by institutional investors.

Shares of CCL traded down $0.40 during mid-day trading on Friday, hitting $45.09. 2,845,154 shares of the company traded hands, compared to its average volume of 5,004,339. The firm’s 50 day simple moving average is $48.66. The company has a market capitalization of $23.76 billion, a P/E ratio of 10.58, a PEG ratio of 1.07 and a beta of 1.09. Carnival has a 1-year low of $44.76 and a 1-year high of $67.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.27 and a quick ratio of 0.22.

Carnival (NYSE:CCL) last released its quarterly earnings data on Thursday, June 20th. The company reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the prior year, the firm posted $0.68 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts predict that Carnival will post 4.34 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 23rd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Thursday, August 22nd. Carnival’s payout ratio is 46.95%.

Several research analysts have commented on the stock. Buckingham Research lowered shares of Carnival from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $65.00 to $54.00 in a research note on Monday, April 15th. Zacks Investment Research lowered shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Barclays lifted their price objective on shares of from GBX 200 ($2.61) to GBX 210 ($2.74) and gave the stock an “equal weight” rating in a research note on Friday, June 21st. Berenberg Bank reaffirmed a “buy” rating and set a GBX 100 ($1.31) price objective on shares of in a research note on Monday, July 1st. Finally, Wedbush set a $130.00 target price on shares of Childrens Place and gave the company a “buy” rating in a research note on Friday, June 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $61.72.

Carnival Company Profile

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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