Carnival Corp. (CCL) Coverage Initiated at Deutsche Bank AG
Deutsche Bank AG began coverage on shares of Carnival Corp. (NYSE:CCL) in a report issued on Thursday. The firm set a “hold” rating and a $48.00 price target on the stock. Deutsche Bank AG’s price target suggests a potential downside of 1.68% from the stock’s current price.
A number of other research firms have also weighed in on CCL. Bank of America Corp. set a $53.40 price target on shares of Carnival Corp. and gave the company a “buy” rating in a report on Wednesday, September 21st. Buckingham Research raised their price target on shares of Carnival Corp. from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, September 27th. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Carnival Corp. in a report on Thursday, June 30th. Zacks Investment Research lowered shares of Carnival Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 8th. Finally, Nomura reaffirmed a “buy” rating and set a $62.00 price target on shares of Carnival Corp. in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. Carnival Corp. presently has an average rating of “Buy” and an average target price of $55.97.
Shares of Carnival Corp. (NYSE:CCL) opened at 48.82 on Thursday. The stock has a 50 day moving average of $46.74 and a 200-day moving average of $47.81. Carnival Corp. has a one year low of $40.52 and a one year high of $55.77. The stock has a market capitalization of $35.64 billion, a PE ratio of 15.18 and a beta of 0.80.
Carnival Corp. (NYSE:CCL) last released its quarterly earnings data on Monday, September 26th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.03. Carnival Corp. had a net margin of 15.10% and a return on equity of 10.76%. The company earned $5.10 billion during the quarter. During the same period in the previous year, the company earned $1.75 EPS. Carnival Corp.’s revenue was up 4.4% on a year-over-year basis. Equities analysts predict that Carnival Corp. will post $8.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were given a $0.35 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.87%. Carnival Corp.’s payout ratio is currently 42.94%.
Several hedge funds and other institutional investors have recently bought and sold shares of CCL. Capital Analysts LLC increased its position in Carnival Corp. by 3.7% in the second quarter. Capital Analysts LLC now owns 3,316 shares of the company’s stock worth $147,000 after buying an additional 118 shares during the last quarter. Hall Laurie J Trustee increased its position in Carnival Corp. by 6.9% in the second quarter. Hall Laurie J Trustee now owns 3,550 shares of the company’s stock worth $162,000 after buying an additional 230 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Carnival Corp. by 4.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the company’s stock worth $182,000 after buying an additional 162 shares during the last quarter. Wunderlich Capital Managemnt increased its position in Carnival Corp. by 24.4% in the first quarter. Wunderlich Capital Managemnt now owns 3,684 shares of the company’s stock worth $194,000 after buying an additional 723 shares during the last quarter. Finally, Intrust Bank NA acquired a new position in Carnival Corp. during the second quarter worth about $202,000. Institutional investors own 77.99% of the company’s stock.
About Carnival Corp.
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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