Traders Buy Shares of Carnival Corp. (CCL) on Weakness
Investors bought 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 equities 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
Several analysts have issued reports on CCL shares. Morgan Stanley downgraded Carnival Corp. from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $54.00 to $48.00 in a report on Friday. Tigress Financial upgraded Carnival Corp. from a “neutral” rating to a “buy” rating in a report on Tuesday, May 31st. Wells Fargo & Co. restated an “outperform” rating on shares of Carnival Corp. in a report on Thursday, June 30th. Credit Suisse Group AG restated a “buy” rating and set a $60.00 price objective on shares of Carnival Corp. in a report on Tuesday, May 24th. Finally, Barclays PLC restated a “hold” rating and set a $56.00 price objective (down previously from $58.00) on shares of Carnival Corp. in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $57.68.
The company has a market capitalization of $34.56 billion and a PE ratio of 15.99. The stock 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 issued its earnings results on Tuesday, June 28th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.10. During the same quarter in the prior year, the business posted $0.25 EPS. The company had revenue of $3.70 billion for the quarter. The company’s revenue was up 3.2% on a year-over-year basis. Equities analysts forecast that Carnival Corp. will post $3.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, August 26th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Wednesday, August 24th.
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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