Carnival Corporation Plans Quarterly Dividend of $0.15 (NYSE:CCL)

Carnival Corporation (NYSE:CCL) declared a quarterly dividend on Friday, May 8th. Investors of record on Monday, May 18th will be given a dividend of 0.15 per share on Friday, May 29th. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, May 18th.

Carnival has decreased its dividend by an average of 1.0%per year over the last three years. Carnival has a payout ratio of 27.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Carnival to earn $2.59 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 23.2%.

Carnival Trading Down 2.2%

Shares of CCL stock opened at $24.64 on Friday. Carnival has a 12-month low of $21.62 and a 12-month high of $34.03. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 1.82. The stock’s 50-day moving average price is $26.15 and its 200-day moving average price is $28.12. The stock has a market capitalization of $30.53 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 1.12 and a beta of 2.33.

Carnival (NYSE:CCL) last issued its earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. During the same period in the previous year, the firm posted $0.13 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Carnival will post 2.21 EPS for the current fiscal year.

Insider Transactions at Carnival

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total value of $313,965.72. Following the completion of the sale, the director directly owned 52,601 shares of the company’s stock, valued at $1,377,620.19. The trade was a 18.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 12,000 shares of company stock valued at $314,265. 7.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Carnival

Large investors have recently added to or reduced their stakes in the stock. Hound Partners LLC raised its holdings in shares of Carnival by 27.9% in the 1st quarter. Hound Partners LLC now owns 4,514,839 shares of the company’s stock valued at $116,844,000 after purchasing an additional 985,772 shares in the last quarter. Q Global Advisors LLC raised its holdings in shares of Carnival by 518.3% in the 1st quarter. Q Global Advisors LLC now owns 400,000 shares of the company’s stock valued at $10,352,000 after purchasing an additional 335,305 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Carnival in the 1st quarter valued at about $1,732,000. Gateway Wealth Partners LLC raised its holdings in shares of Carnival by 104.3% in the 1st quarter. Gateway Wealth Partners LLC now owns 21,137 shares of the company’s stock valued at $547,000 after purchasing an additional 10,792 shares in the last quarter. Finally, Troluce Capital Advisors LLC bought a new stake in shares of Carnival in the 1st quarter valued at about $2,391,000. 67.19% of the stock is owned by hedge funds and other institutional investors.

About Carnival

Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company’s core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.