Carnival (NYSE:CCL) Sets New 52-Week Low at $43.90

Carnival Corp (NYSE:CCL)’s stock price reached a new 52-week low on Friday . The stock traded as low as $43.90 and last traded at $43.98, with a volume of 1282654 shares trading hands. The stock had previously closed at $45.09.

Several analysts recently weighed in on CCL shares. SunTrust Banks reduced their price objective on Carnival to $65.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. ValuEngine raised Carnival from a “strong sell” rating to a “sell” rating in a research note on Monday, August 12th. Wedbush cut their price target on Carnival from $54.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Wolfe Research lowered Carnival from an “outperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Finally, William Blair lowered Carnival from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $61.26.

The stock has a 50 day moving average price of $46.00 and a 200 day moving average price of $51.80. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $23.55 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 1.08 and a beta of 1.08.

Carnival (NYSE:CCL) last posted its quarterly earnings data on Thursday, June 20th. The company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.05. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.49 billion. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. Sell-side analysts forecast that Carnival Corp will post 4.34 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Thursday, August 22nd. Carnival’s dividend payout ratio is currently 46.95%.

In related news, CEO Arnold W. Donald acquired 22,050 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were bought at an average cost of $45.23 per share, with a total value of $997,321.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Randall J. Weisenburger acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was bought at an average cost of $46.50 per share, for a total transaction of $930,000.00. The disclosure for this purchase can be found here. 24.10% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of CCL. Nuveen Asset Management LLC lifted its stake in shares of Carnival by 12,460.0% in the second quarter. Nuveen Asset Management LLC now owns 4,311,837 shares of the company’s stock worth $200,716,000 after acquiring an additional 4,277,507 shares during the period. Invesco Ltd. lifted its stake in shares of Carnival by 22.0% in the second quarter. Invesco Ltd. now owns 21,734,076 shares of the company’s stock worth $1,011,721,000 after acquiring an additional 3,925,980 shares during the period. BlackRock Inc. lifted its stake in shares of Carnival by 8.2% in the first quarter. BlackRock Inc. now owns 30,754,347 shares of the company’s stock worth $1,559,860,000 after acquiring an additional 2,336,518 shares during the period. HG Vora Capital Management LLC acquired a new position in shares of Carnival in the second quarter worth approximately $58,188,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Carnival by 131.1% in the second quarter. JPMorgan Chase & Co. now owns 2,100,912 shares of the company’s stock worth $96,473,000 after acquiring an additional 1,191,671 shares during the period. 73.00% of the stock is currently owned by institutional investors.

Carnival Company Profile (NYSE:CCL)

Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.

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