Investors Buy Carnival (CCL) on Weakness

Investors bought shares of Carnival Corp (NYSE:CCL) on weakness during trading hours on Wednesday. $65.35 million flowed into the stock on the tick-up and $22.01 million flowed out of the stock on the tick-down, for a money net flow of $43.34 million into the stock. Of all stocks tracked, Carnival had the 19th highest net in-flow for the day. Carnival traded down ($0.09) for the day and closed at $59.00

Several equities research analysts recently commented on CCL shares. Stifel Nicolaus cut their price target on shares of Carnival from $81.00 to $78.00 and set a “buy” rating for the company in a report on Tuesday, June 26th. SunTrust Banks cut their price target on shares of Carnival to $79.00 and set a “buy” rating for the company in a report on Tuesday, June 26th. Citigroup cut their price target on shares of Carnival from $79.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, August 8th. Berenberg Bank raised shares of Carnival from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Finally, Credit Suisse Group set a $75.00 price target on shares of Carnival and gave the stock a “buy” rating in a report on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Carnival presently has a consensus rating of “Hold” and a consensus price target of $72.86.

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.17 and a current ratio of 0.22. The company has a market capitalization of $31.08 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.00 and a beta of 0.93.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 23rd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $2.00 annualized dividend and a yield of 3.48%. Carnival’s dividend payout ratio (DPR) is presently 52.36%.

In other Carnival news, General Counsel Arnaldo Perez sold 7,000 shares of Carnival stock in a transaction on Monday, October 1st. The shares were sold at an average price of $64.26, for a total transaction of $449,820.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 23.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Northern Trust Corp boosted its position in shares of Carnival by 0.5% during the 2nd quarter. Northern Trust Corp now owns 25,028,806 shares of the company’s stock valued at $1,434,401,000 after acquiring an additional 121,834 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Carnival by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,921,357 shares of the company’s stock valued at $224,733,000 after acquiring an additional 55,116 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Carnival by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,140,823 shares of the company’s stock valued at $179,999,000 after acquiring an additional 62,365 shares during the last quarter. FMR LLC boosted its position in shares of Carnival by 10.0% during the 2nd quarter. FMR LLC now owns 2,894,591 shares of the company’s stock valued at $165,888,000 after acquiring an additional 262,856 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Carnival by 7.3% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,318,699 shares of the company’s stock valued at $132,887,000 after acquiring an additional 157,976 shares during the last quarter. 76.42% of the stock is currently owned by hedge funds and other institutional investors.

Carnival Company Profile (NYSE:CCL)

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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