Carnival Corp (CCL) Receives $74.65 Average Target Price from Analysts
Carnival Corp (NYSE:CCL) has received an average rating of “Buy” from the twenty-four research firms that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $74.98.
CCL has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Carnival from $67.00 to $73.00 and gave the company an “equal weight” rating in a report on Thursday, December 21st. Morgan Stanley raised shares of Carnival from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $65.94 to $68.00 in a research report on Wednesday, December 6th. Zacks Investment Research raised shares of Carnival from a “sell” rating to a “hold” rating in a research report on Thursday, December 7th. Credit Suisse Group set a $72.00 target price on shares of Carnival and gave the company a “hold” rating in a research report on Tuesday, December 12th. Finally, Tigress Financial reissued a “buy” rating on shares of Carnival in a research report on Friday, December 22nd.
In other news, CEO Stein Kruse sold 60,665 shares of Carnival stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total value of $4,039,682.35. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Arnold W. Donald sold 6,000 shares of Carnival stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $68.00, for a total transaction of $408,000.00. Following the completion of the transaction, the chief executive officer now directly owns 115,572 shares in the company, valued at approximately $7,858,896. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,627 shares of company stock worth $21,059,647. Insiders own 23.80% of the company’s stock.
Carnival (NYSE CCL) traded up $1.63 on Friday, reaching $68.70. 1,614,663 shares of the company traded hands, compared to its average volume of 3,396,925. Carnival has a 52 week low of $54.75 and a 52 week high of $72.70. The company has a quick ratio of 0.14, a current ratio of 0.18 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $35,826.89, a PE ratio of 19.08, a price-to-earnings-growth ratio of 1.13 and a beta of 0.75.
Carnival (NYSE:CCL) last released its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.12. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the business earned $0.67 earnings per share. Carnival’s quarterly revenue was up 8.2% compared to the same quarter last year. analysts anticipate that Carnival will post 4.27 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 23rd will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Thursday, February 22nd. Carnival’s payout ratio is currently 32.03%.
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Carnival 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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