Carnival Corporation (CCL) to Issue Quarterly Dividend of $0.15 on May 29th

Carnival Corporation (NYSE:CCL) announced a quarterly dividend on Friday, May 8th. Shareholders of record on Monday, May 18th will be paid a dividend of 0.15 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, May 18th.

Carnival has decreased its dividend by an average of 1.0%per year over the last three years. Carnival has a payout ratio of 27.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Carnival to earn $2.59 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 23.2%.

Carnival Trading Down 2.2%

CCL opened at $24.64 on Friday. Carnival has a 1-year low of $21.62 and a 1-year high of $34.03. The stock has a market capitalization of $30.53 billion, a PE ratio of 10.95, a PEG ratio of 1.12 and a beta of 2.33. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 1.82. The firm has a 50-day moving average price of $26.15 and a two-hundred day moving average price of $28.12.

Carnival (NYSE:CCL) last announced its earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. Carnival had a net margin of 11.48% and a return on equity of 26.92%. Carnival’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 earnings per share. As a group, equities analysts anticipate that Carnival will post 2.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CCL. Wells Fargo & Company decreased their price objective on Carnival from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Susquehanna dropped their target price on Carnival from $40.00 to $30.00 and set a “positive” rating for the company in a research report on Monday, March 23rd. Zacks Research lowered Carnival from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. HSBC upgraded Carnival from a “hold” rating to a “buy” rating and decreased their price target for the company from $33.60 to $30.10 in a report on Monday, March 30th. Finally, Stifel Nicolaus dropped their price objective on Carnival from $40.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Twenty analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.18.

Carnival Company Profile

Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company’s core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.