Carnival (NYSE:CCL) Hits New 1-Year Low at $44.51

Carnival Corp (NYSE:CCL)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $44.51 and last traded at $44.55, with a volume of 306894 shares trading hands. The stock had previously closed at $45.94.

Several equities analysts have weighed in on CCL shares. Barclays downgraded shares of Carnival from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $69.00 to $55.00 in a report on Friday, June 21st. Wedbush dropped their target price on shares of Carnival from $54.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, June 21st. ValuEngine raised shares of Carnival from a “strong sell” rating to a “sell” rating in a research note on Monday. Berenberg Bank cut shares of Carnival from a “buy” rating to a “hold” rating and decreased their price target for the stock from $60.00 to $48.00 in a research note on Monday, July 1st. Finally, Nomura cut shares of Carnival from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $60.00 to $52.00 in a research note on Thursday, June 20th. Two 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’s stock. The stock currently has an average rating of “Hold” and an average target price of $61.26.

The firm has a 50-day moving average of $46.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.27 and a quick ratio of 0.22. The company has a market capitalization of $24.21 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 1.09 and a beta of 1.08.

Carnival (NYSE:CCL) last released its earnings results on Thursday, June 20th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Carnival had a net margin of 15.09% and a return on equity of 12.15%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. On average, equities analysts forecast that Carnival Corp will post 4.34 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. Carnival’s dividend payout ratio (DPR) is 46.95%.

In other news, Director Randall J. Weisenburger acquired 20,000 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were bought at an average price of $46.50 per share, for a total transaction of $930,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arnold W. Donald acquired 22,050 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were purchased at an average price of $45.23 per share, for a total transaction of $997,321.50. The disclosure for this purchase can be found here. Insiders own 24.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Alpha LLC purchased a new stake in shares of Carnival during the first quarter valued at approximately $29,000. Manchester Financial Inc. purchased a new stake in shares of Carnival during the second quarter valued at approximately $26,000. Peddock Capital Advisors LLC purchased a new stake in shares of Carnival during the first quarter valued at approximately $35,000. Berman Capital Advisors LLC raised its stake in shares of Carnival by 92.1% during the second quarter. Berman Capital Advisors LLC now owns 920 shares of the company’s stock valued at $42,000 after purchasing an additional 441 shares during the period. Finally, Resources Investment Advisors Inc. raised its stake in shares of Carnival by 823.5% during the first quarter. Resources Investment Advisors Inc. now owns 942 shares of the company’s stock valued at $48,000 after purchasing an additional 840 shares during the period. Institutional investors own 74.43% of the company’s stock.

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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