Carnival Corp. (NYSE:CCL) dropped 4.5% during mid-day trading on Friday . The stock traded as low as $46.08 and last traded at $46.51, with a volume of 8,434,970 shares. The stock had previously closed at $48.70.

CCL has been the topic of several analyst reports. Credit Suisse Group AG reaffirmed a “buy” rating and set a $60.00 price target on shares of Carnival Corp. in a research note on Tuesday, May 24th. Nomura reiterated a “buy” rating and set a $62.00 price objective on shares of Carnival Corp. in a report on Wednesday, June 29th. Sterne Agee CRT began coverage on shares of Carnival Corp. in a report on Tuesday, June 7th. They set a “buy” rating and a $60.00 price objective on the stock. Tigress Financial upgraded shares of Carnival Corp. from a “neutral” rating to a “buy” rating in a report on Tuesday, May 31st. Finally, Morgan Stanley cut their price objective on shares of Carnival Corp. from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, May 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus 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 firm has a market capitalization of $34.56 billion and a PE ratio of 15.99.

Carnival Corp. (NYSE:CCL) last announced its quarterly earnings results on Tuesday, June 28th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.10. The firm earned $3.70 billion during the quarter. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. On average, analysts forecast that Carnival Corp. will post $3.34 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.