Carnival Corp (NYSE:CCL) has been assigned an average recommendation of “Hold” from the eighteen brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $72.50.
A number of brokerages have recently commented on CCL. Zacks Investment Research upgraded Carnival from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. Goldman Sachs Group set a $70.00 target price on Carnival and gave the stock a “hold” rating in a report on Monday, September 24th. Bank of America set a $78.00 target price on Carnival and gave the stock a “buy” rating in a report on Wednesday, September 26th. Macquarie set a $55.00 target price on Carnival and gave the stock a “sell” rating in a report on Friday, September 28th. Finally, ValuEngine upgraded Carnival from a “sell” rating to a “hold” rating in a report on Friday, September 14th.
In related news, General Counsel Arnaldo Perez sold 7,000 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $64.26, for a total transaction of $449,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.80% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Reilly Financial Advisors LLC boosted its holdings in Carnival by 7.8% during the 3rd quarter. Reilly Financial Advisors LLC now owns 22,183 shares of the company’s stock valued at $1,415,000 after acquiring an additional 1,612 shares during the period. Cornerstone Wealth Management LLC boosted its holdings in Carnival by 128.2% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 188,012 shares of the company’s stock valued at $2,829,000 after acquiring an additional 105,611 shares during the period. Legacy Advisors LLC boosted its holdings in Carnival by 155.2% during the 3rd quarter. Legacy Advisors LLC now owns 3,933 shares of the company’s stock valued at $251,000 after acquiring an additional 2,392 shares during the period. Randolph Co Inc purchased a new position in Carnival during the 3rd quarter valued at $13,885,000. Finally, TRUE Private Wealth Advisors purchased a new position in Carnival during the 3rd quarter valued at $199,000. Institutional investors own 76.42% of the company’s stock.
NYSE CCL traded down $0.31 during trading on Wednesday, hitting $57.23. 3,208,079 shares of the stock traded hands, compared to its average volume of 4,466,731. The stock has a market capitalization of $30.31 billion, a PE ratio of 14.98, a P/E/G ratio of 0.97 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.22 and a quick ratio of 0.17. Carnival has a 12-month low of $56.45 and a 12-month high of $72.70.
Carnival (NYSE:CCL) last released its quarterly earnings results on Thursday, September 27th. The company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.80 billion. Carnival had a return on equity of 12.30% and a net margin of 17.15%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 EPS. On average, analysts anticipate that Carnival will post 4.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Wednesday, November 21st. Carnival’s payout ratio is currently 52.36%.
Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.
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