Carnival Corporation (NYSE:CCL) – Equities researchers at William Blair boosted their Q3 2017 EPS estimates for shares of Carnival Corporation in a note issued to investors on Wednesday. William Blair analyst S. Zackfia now expects that the company will post earnings of $2.21 per share for the quarter, up from their previous forecast of $2.20. William Blair has a “Outperform” rating on the stock.
CCL has been the subject of a number of other reports. Stifel Nicolaus restated a “buy” rating and issued a $68.00 price target on shares of Carnival Corporation in a research report on Friday, June 16th. Credit Suisse Group reiterated an “outperform” rating and issued a $74.00 price objective (up from $69.00) on shares of Carnival Corporation in a report on Saturday, June 3rd. KeyCorp cut Carnival Corporation to an “overweight” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded Carnival Corporation from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Tuesday, August 1st. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $62.00 price objective (up from $58.00) on shares of Carnival Corporation in a report on Sunday, June 25th. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Carnival Corporation has a consensus rating of “Buy” and an average target price of $63.07.
Shares of Carnival Corporation (NYSE:CCL) opened at 65.94 on Friday. Carnival Corporation has a 52 week low of $45.46 and a 52 week high of $69.89. The company’s 50 day moving average price is $67.77 and its 200-day moving average price is $63.36. The company has a market capitalization of $47.74 billion, a price-to-earnings ratio of 17.44 and a beta of 0.74.
Carnival Corporation (NYSE:CCL) last posted its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. Carnival Corporation had a return on equity of 11.26% and a net margin of 16.48%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company earned $0.49 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Carnival Corporation by 3.3% during the second quarter. Vanguard Group Inc. now owns 28,919,554 shares of the company’s stock worth $1,896,255,000 after acquiring an additional 934,311 shares during the period. BlackRock Inc. increased its position in shares of Carnival Corporation by 2.0% during the second quarter. BlackRock Inc. now owns 28,469,248 shares of the company’s stock worth $1,866,728,000 after acquiring an additional 550,116 shares during the period. Bank of America Corp DE increased its position in shares of Carnival Corporation by 6.5% during the first quarter. Bank of America Corp DE now owns 24,838,450 shares of the company’s stock worth $1,463,234,000 after acquiring an additional 1,519,630 shares during the period. State Street Corp increased its position in shares of Carnival Corporation by 1.6% during the first quarter. State Street Corp now owns 17,999,377 shares of the company’s stock worth $1,060,346,000 after acquiring an additional 284,607 shares during the period. Finally, Investec Asset Management LTD increased its position in shares of Carnival Corporation by 6.5% during the second quarter. Investec Asset Management LTD now owns 4,961,591 shares of the company’s stock worth $325,332,000 after acquiring an additional 303,161 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Alan Buckelew sold 15,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the sale, the insider now owns 150,860 shares of the company’s stock, valued at $10,110,637.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.80% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Wednesday, August 23rd. Carnival Corporation’s dividend payout ratio is currently 42.55%.
About Carnival Corporation
Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
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