Bank of America set a $78.00 price target on Carnival (NYSE:CCL) in a report released on Wednesday, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Tigress Financial reaffirmed a buy rating on shares of Carnival in a research report on Friday, June 8th. Stifel Nicolaus dropped their price objective on Carnival from $81.00 to $78.00 and set a buy rating on the stock in a research report on Tuesday, June 26th. SunTrust Banks dropped their price objective on Carnival to $79.00 and set a buy rating on the stock in a research report on Tuesday, June 26th. Berenberg Bank raised Carnival from a hold rating to a buy rating in a research report on Wednesday, June 27th. Finally, Citigroup dropped their price objective on Carnival from $79.00 to $69.00 and set a buy rating on the stock in a research report on Wednesday, August 8th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $74.06.

Shares of Carnival stock traded down $5.50 during trading on Wednesday, hitting $61.48. 319,411 shares of the company’s stock traded hands, compared to its average volume of 3,351,837. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.24 and a quick ratio of 0.20. Carnival has a 1 year low of $56.45 and a 1 year high of $72.70. The stock has a market capitalization of $35.34 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 1.05 and a beta of 0.87.

The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 24th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Thursday, August 23rd. Carnival’s dividend payout ratio is 52.36%.

A number of hedge funds have recently bought and sold shares of the business. Royal London Asset Management Ltd. bought a new position in Carnival in the second quarter valued at about $9,805,000. Northern Trust Corp raised its stake in shares of Carnival by 0.5% in the second quarter. Northern Trust Corp now owns 25,028,806 shares of the company’s stock worth $1,434,401,000 after buying an additional 121,834 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Carnival by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 3,921,357 shares of the company’s stock worth $224,733,000 after buying an additional 55,116 shares during the period. Mainstay Capital Management LLC ADV raised its stake in shares of Carnival by 1,262.1% in the second quarter. Mainstay Capital Management LLC ADV now owns 6,320 shares of the company’s stock worth $125,000 after buying an additional 5,856 shares during the period. Finally, Mount Yale Investment Advisors LLC raised its stake in shares of Carnival by 668.8% in the second quarter. Mount Yale Investment Advisors LLC now owns 10,263 shares of the company’s stock worth $588,000 after buying an additional 8,928 shares during the period. 75.61% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Carnival (NYSE:CCL)

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