Investors Buy Shares of Carnival Corp. (CCL) on Weakness
Traders purchased shares of Carnival Corp. (NYSE:CCL) on weakness during trading hours on Friday. $100.96 million flowed into the stock on the tick-up and $82.82 million flowed out of the stock on the tick-down, for a money net flow of $18.14 million into the stock. Of all companies tracked, Carnival Corp. had the 36th highest net in-flow for the day. Carnival Corp. traded down ($2.31) for the day and closed at $46.39
A number of analysts recently commented on the company. Zacks Investment Research lowered Carnival Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 8th. Nomura restated a “buy” rating and set a $62.00 target price on shares of Carnival Corp. in a research report on Wednesday, June 29th. Sterne Agee CRT assumed coverage on Carnival Corp. in a research report on Tuesday, June 7th. They set a “buy” rating and a $60.00 target price for the company. Barclays PLC restated a “hold” rating and set a $56.00 target price (down from $58.00) on shares of Carnival Corp. in a research report on Wednesday, June 29th. Finally, Goldman Sachs Group Inc. boosted their target price on Carnival Corp. from $46.50 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $57.68.
The firm has a market cap of $34.56 billion and a price-to-earnings ratio of 15.99. The firm has a 50-day moving average price of $46.45 and a 200-day moving average price of $47.93.
Carnival Corp. (NYSE:CCL) last released its earnings results on Tuesday, June 28th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.39 by $0.10. During the same period in the prior year, the company earned $0.25 earnings per share. The business had revenue of $3.70 billion for the quarter. Carnival Corp.’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Carnival Corp. will post $3.34 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, August 26th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 24th. This represents a $1.40 annualized dividend and a yield of 3.02%.
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
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