Carnival Corporation (NYSE:CCL)’s share price gapped down prior to trading on Friday . The stock had previously closed at $70.21, but opened at $68.74. Carnival Corporation shares last traded at $65.94, with a volume of 10,390,474 shares changing hands.
A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Carnival Corporation from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Tuesday, September 5th. UBS AG reissued a “buy” rating and issued a $76.00 price objective (up from $67.00) on shares of Carnival Corporation in a research report on Thursday, August 17th. Credit Suisse Group cut shares of Carnival Corporation from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $78.00 to $70.00 in a research report on Friday. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Carnival Corporation in a research report on Tuesday, August 15th. Finally, BidaskClub raised shares of Carnival Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $63.07.
The firm has a 50-day moving average price of $67.77 and a 200 day moving average price of $63.36. The company has a market capitalization of $47.74 billion, a P/E ratio of 17.44 and a beta of 0.74.
Carnival Corporation (NYSE:CCL) last issued 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 business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $0.49 EPS. On average, analysts anticipate that Carnival Corporation will post $3.74 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $1.60 annualized dividend and a yield of 2.43%. Carnival Corporation’s payout ratio is 42.55%.
In other news, insider Alan Buckelew sold 15,000 shares of Carnival Corporation stock in a transaction on Monday, July 31st. The shares were 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 in the company, valued at approximately $10,110,637.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pathstone Family Office LLC boosted its holdings in Carnival Corporation by 200.0% during the 2nd quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock worth $2,493,000 after acquiring an additional 38 shares during the last quarter. YorkBridge Wealth Partners LLC raised its stake in shares of Carnival Corporation by 1.4% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock worth $191,000 after purchasing an additional 40 shares during the period. Cleararc Capital Inc. raised its stake in shares of Carnival Corporation by 0.6% during the 1st quarter. Cleararc Capital Inc. now owns 10,237 shares of the company’s stock worth $603,000 after purchasing an additional 63 shares during the period. Security National Bank of Sioux City Iowa IA raised its stake in shares of Carnival Corporation by 0.5% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 13,390 shares of the company’s stock worth $878,000 after purchasing an additional 65 shares during the period. Finally, Scotia Capital Inc. raised its stake in shares of Carnival Corporation by 0.4% during the 2nd quarter. Scotia Capital Inc. now owns 16,604 shares of the company’s stock worth $1,089,000 after purchasing an additional 71 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: “Carnival Corporation (CCL) Shares Gap Down to $68.74” was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this piece on another website, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be accessed at https://www.chaffeybreeze.com/2017/09/17/carnival-corporation-ccl-shares-gap-down-to-68-74.html.
About Carnival Corporation
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.
Receive News & Ratings for Carnival Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival Corporation and related companies with MarketBeat.com's FREE daily email newsletter.