Cambridge Investment Research Advisors Inc. grew its position in shares of Carnival Corp (NYSE:CCL) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,006 shares of the company’s stock after buying an additional 724 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Carnival were worth $1,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. boosted its stake in Carnival by 87.2% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 543 shares of the company’s stock valued at $27,000 after buying an additional 253 shares in the last quarter. Essex Savings Bank acquired a new position in Carnival in the fourth quarter worth $29,000. Sontag Advisory LLC acquired a new position in Carnival in the fourth quarter worth $35,000. Doyle Wealth Management acquired a new position in Carnival in the fourth quarter worth $36,000. Finally, Berman Capital Advisors LLC acquired a new position in Carnival in the fourth quarter worth $39,000. Institutional investors and hedge funds own 74.92% of the company’s stock.
Shares of CCL traded down $0.07 during trading hours on Wednesday, reaching $45.38. 7,261,401 shares of the stock traded hands, compared to its average volume of 4,121,142. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.22. The company has a market capitalization of $23.95 billion, a P/E ratio of 10.65, a P/E/G ratio of 1.01 and a beta of 1.23. The company’s 50-day simple moving average is $51.89. Carnival Corp has a 52-week low of $45.00 and a 52-week high of $67.69.
Carnival (NYSE:CCL) last announced its quarterly earnings results on Thursday, June 20th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.49 billion. Carnival had a net margin of 15.09% and a return on equity of 12.11%. Carnival’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. Equities research analysts expect that Carnival Corp will post 4.34 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 24th were issued a $0.50 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.41%. Carnival’s dividend payout ratio (DPR) is presently 46.95%.
CCL has been the subject of a number of recent research reports. Nomura dropped their target price on Carnival from $66.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Wedbush reduced their price objective on Carnival from $54.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Buckingham Research cut Carnival from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $65.00 to $54.00 in a research report on Monday, April 15th. Goldman Sachs Group raised Carnival from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $63.00 to $65.00 in a research report on Wednesday, March 13th. Finally, Wells Fargo & Co reduced their price objective on Carnival from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Carnival presently has an average rating of “Hold” and a consensus target price of $62.70.
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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