Investors Buy Carnival Corporation (CCL) on Weakness
Traders bought shares of Carnival Corporation (NYSE:CCL) on weakness during trading hours on Tuesday. $92.86 million flowed into the stock on the tick-up and $74.90 million flowed out of the stock on the tick-down, for a money net flow of $17.96 million into the stock. Of all equities tracked, Carnival Corporation had the 38th highest net in-flow for the day. Carnival Corporation traded down ($2.12) for the day and closed at $67.01
Several analysts have weighed in on CCL shares. ValuEngine raised Carnival Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 target price on shares of Carnival Corporation in a report on Friday, June 16th. Instinet upped their target price on Carnival Corporation from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday, June 23rd. HSBC Holdings plc reissued a “buy” rating and issued a $71.00 target price (up previously from $65.00) on shares of Carnival Corporation in a report on Monday, June 26th. Finally, Zacks Investment Research raised Carnival Corporation from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Wednesday, July 12th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Carnival Corporation currently has an average rating of “Buy” and an average price target of $63.32.
The stock’s 50 day moving average price is $67.71 and its 200-day moving average price is $62.86. The company has a market capitalization of $48.49 billion, a price-to-earnings ratio of 17.71 and a beta of 0.74.
Carnival Corporation (NYSE:CCL) last released its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Carnival Corporation had a return on equity of 11.26% and a net margin of 16.48%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 earnings per share. Equities research analysts expect that Carnival Corporation will post $3.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.39%. Carnival Corporation’s dividend payout ratio is currently 42.55%.
In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $67.02, for a total value of $1,005,300.00. Following the completion of the sale, the insider now owns 150,860 shares of the company’s stock, valued at $10,110,637.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 23.80% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in CCL. BlackRock Inc. lifted its position in shares of Carnival Corporation by 2,672.9% in the first quarter. BlackRock Inc. now owns 27,919,132 shares of the company’s stock worth $1,644,716,000 after buying an additional 26,912,293 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Carnival Corporation by 316.9% in the second quarter. Alliancebernstein L.P. now owns 4,236,266 shares of the company’s stock worth $277,772,000 after buying an additional 3,220,191 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Carnival Corporation by 129.9% in the first quarter. Ameriprise Financial Inc. now owns 3,395,780 shares of the company’s stock worth $201,341,000 after buying an additional 1,918,638 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Carnival Corporation by 115.5% in the second quarter. Janus Henderson Group PLC now owns 3,088,143 shares of the company’s stock worth $202,505,000 after buying an additional 1,655,345 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Carnival Corporation by 6.5% in the first quarter. Bank of America Corp DE now owns 24,838,450 shares of the company’s stock worth $1,463,234,000 after buying an additional 1,519,630 shares during the last quarter. 77.34% of the stock is owned by institutional investors.
Carnival Corporation Company Profile
Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
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