Carnival Corp (NYSE:CCL) declared a quarterly dividend on Wednesday, October 17th, RTT News reports. Stockholders of record on Friday, November 23rd will be given a dividend of 0.50 per share on Friday, December 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Wednesday, November 21st.

Carnival has raised its dividend payment by an average of 17.0% per year over the last three years and has increased its dividend every year for the last 3 years. Carnival has a dividend payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Carnival to earn $4.70 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 42.6%.

CCL opened at $59.05 on Tuesday. Carnival has a 52 week low of $53.47 and a 52 week high of $72.70. The firm has a market cap of $31.59 billion, a PE ratio of 15.46, a PEG ratio of 1.01 and a beta of 1.01. The company has a quick ratio of 0.17, a current ratio of 0.22 and a debt-to-equity ratio of 0.34.

Carnival (NYSE:CCL) last released its quarterly earnings results on Thursday, September 27th. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.32 by $0.04. Carnival had a return on equity of 12.30% and a net margin of 17.15%. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the business posted $2.29 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts predict that Carnival will post 4.25 earnings per share for the current fiscal year.

Several research analysts have recently commented on CCL shares. ValuEngine lowered Carnival from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Stifel Nicolaus lowered their price target on Carnival from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, September 28th. Zacks Investment Research lowered Carnival from a “hold” rating to a “sell” rating in a research report on Monday, August 27th. Macquarie set a $55.00 price target on Carnival and gave the stock a “sell” rating in a research report on Friday, September 28th. Finally, Credit Suisse Group set a $75.00 target price on Carnival and gave the company a “buy” rating in a report on Thursday, September 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Carnival currently has a consensus rating of “Buy” and an average target price of $72.86.

In related news, General Counsel Arnaldo Perez sold 7,000 shares of Carnival stock in a transaction on Monday, October 1st. The stock was sold at an average price of $64.26, for a total value of $449,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 23.80% of the company’s stock.

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About Carnival

Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.

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Dividend History for Carnival (NYSE:CCL)

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