Traders Buy Carnival Corp. (CCL) on Weakness
Investors purchased shares of Carnival Corp. (NYSE:CCL) on weakness during trading on Monday. $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 stocks tracked, Carnival Corp. had the 7th highest net in-flow for the day. Carnival Corp. traded down ($2.31) for the day and closed at $46.39
Several equities analysts have commented on the stock. Zacks Investment Research cut shares of Carnival Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 8th. Nomura reissued a “buy” rating and issued a $62.00 price target on shares of Carnival Corp. in a research report on Wednesday, June 29th. Sterne Agee CRT assumed coverage on shares of Carnival Corp. in a research report on Tuesday, June 7th. They issued a “buy” rating and a $60.00 price target for the company. Barclays PLC reissued a “hold” rating and issued a $56.00 price target (down previously from $58.00) on shares of Carnival Corp. in a research report on Wednesday, June 29th. Finally, Goldman Sachs Group Inc. raised their price target on shares of Carnival Corp. from $46.50 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, June 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $57.68.
The company has a 50 day moving average price of $46.45 and a 200-day moving average price of $47.93. The company has a market cap of $34.56 billion and a PE ratio of 15.99.
Carnival Corp. (NYSE:CCL) last announced its quarterly earnings data on Tuesday, June 28th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.10. During the same quarter in the prior year, the company earned $0.25 earnings per share. The business earned $3.70 billion during the quarter. Carnival Corp.’s revenue was up 3.2% on a year-over-year basis. On average, analysts forecast that Carnival Corp. will post $3.34 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, August 26th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, August 24th. This represents a $1.40 annualized dividend and a dividend 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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