Carnival Corp Plans Quarterly Dividend of $0.50 (NYSE:CCL)

Carnival Corp (NYSE:CCL) declared a quarterly dividend on Thursday, July 11th, RTT News reports. Shareholders of record on Friday, August 23rd will be paid a dividend of 0.50 per share on Friday, September 13th. This represents a $2.00 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Thursday, August 22nd.

Carnival has increased its dividend by an average of 21.0% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Carnival has a payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Carnival to earn $4.77 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 41.9%.

Shares of CCL stock opened at $45.74 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $46.05 and a two-hundred day moving average of $51.98. Carnival has a 52 week low of $43.97 and a 52 week high of $67.69. The company has a market cap of $23.68 billion, a P/E ratio of 10.74, a PEG ratio of 1.07 and a beta of 1.08.

Carnival (NYSE:CCL) last issued its earnings results on Thursday, June 20th. The company reported $0.66 EPS for the quarter, beating the Zacks’ 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 company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. Carnival’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts expect that Carnival will post 4.34 EPS for the current fiscal year.

A number of equities analysts have commented on the company. Nomura downgraded Carnival from a “buy” rating to a “neutral” rating and decreased their target price for the company from $60.00 to $52.00 in a research note on Thursday, June 20th. Barclays downgraded Carnival from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $69.00 to $55.00 in a research note on Friday, June 21st. William Blair downgraded Carnival from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 20th. ValuEngine upgraded Carnival from a “strong sell” rating to a “sell” rating in a research note on Monday, August 12th. Finally, Zacks Investment Research downgraded Carnival from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $61.26.

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

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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Dividend History for Carnival (NYSE:CCL)

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