Carnival Corp (NYSE:CCL) declared a quarterly dividend on Thursday, July 11th, RTT News reports. Shareholders of record on Friday, August 23rd will be paid a dividend of 0.50 per share on Friday, September 13th. This represents a $2.00 annualized dividend and a yield of 4.32%.
Carnival has raised its dividend payment by an average of 21.0% per year over the last three years and has raised its dividend every year for the last 4 years. Carnival has a payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Carnival to earn $4.77 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 41.9%.
Shares of CCL stock opened at $46.26 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.22 and a current ratio of 0.27. Carnival has a fifty-two week low of $44.76 and a fifty-two week high of $67.69. The business has a 50-day moving average price of $49.43. The firm has a market cap of $24.15 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 1.09 and a beta of 1.09.
Carnival (NYSE:CCL) last issued its earnings results on Thursday, June 20th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period in the prior year, the firm posted $0.68 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Carnival will post 4.34 earnings per share for the current fiscal year.
In other Carnival news, CEO Arnold W. Donald bought 22,050 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was purchased at an average price of $45.23 per share, for a total transaction of $997,321.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Randall J. Weisenburger bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were acquired at an average price of $46.50 per share, with a total value of $930,000.00. The disclosure for this purchase can be found here. 24.10% of the stock is owned by corporate insiders.
Several research analysts have weighed in on the company. Wells Fargo & Co dropped their target price on Carnival from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. Zacks Investment Research lowered GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Berenberg Bank reissued a “buy” rating and set a GBX 100 ($1.31) price objective on shares of in a report on Monday, July 1st. William Blair reissued an “outperform” rating on shares of American Software in a report on Thursday, June 20th. Finally, Wedbush set a $130.00 price objective on Childrens Place and gave the company a “buy” rating in a report on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. Carnival currently has a consensus rating of “Hold” and a consensus target price of $61.83.
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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