Carnival Corporation (NYSE:CCL) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Carnival has a consensus analyst rating of “Moderate Buy”, with 19 buy ratings and 6 hold ratings among 25 covering brokerages. The average 12-month price target is about $34.13.
• The company recently beat quarterly expectations, reporting EPS of $0.20 versus $0.18 expected and revenue of $6.17 billion, up 6.1% year over year. Analysts now expect full-year EPS of 2.21.
• Carnival also announced a quarterly dividend of $0.15 per share, equal to a 2.3% yield annualized. The stock was trading near $26.01, below the average analyst target but close to its 50-day moving average.

Carnival Corporation (NYSE:CCL - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twenty-five brokerages that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $34.1333.

Several equities research analysts have weighed in on CCL shares. Stifel Nicolaus reduced their price objective on Carnival from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, March 11th. Zacks Research raised Carnival from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Morgan Stanley raised Carnival from an "equal weight" rating to an "overweight" rating and reduced their price objective for the stock from $33.00 to $31.00 in a research note on Thursday, March 19th. Truist Financial reduced their price objective on Carnival from $30.00 to $29.00 and set a "hold" rating on the stock in a research note on Friday. Finally, TD Cowen boosted their price objective on Carnival from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Friday, May 15th.

Carnival Trading Down 0.7%

Shares of NYSE CCL opened at $26.01 on Friday. The business's 50 day moving average is $26.06 and its two-hundred day moving average is $28.01. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.30 and a quick ratio of 0.26. Carnival has a 1-year low of $21.62 and a 1-year high of $34.03. The stock has a market capitalization of $32.23 billion, a P/E ratio of 11.56, a PEG ratio of 1.16 and a beta of 2.33.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings data on Friday, March 27th. The company reported $0.20 earnings per share 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 company 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 firm's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts expect that Carnival will post 2.21 EPS for the current year.

Carnival Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.3%. Carnival's dividend payout ratio is currently 26.67%.

Insider Activity at Carnival

In other news, Director Sir Jonathon Band sold 11,988 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total transaction of $313,965.72. Following the transaction, the director owned 52,601 shares of the company's stock, valued at approximately $1,377,620.19. This represents a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 12,000 shares of company stock worth $314,265 over the last quarter. Corporate insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. CVA Family Office LLC grew its stake in shares of Carnival by 15.6% during the fourth quarter. CVA Family Office LLC now owns 2,597 shares of the company's stock valued at $79,000 after buying an additional 350 shares during the last quarter. Net Worth Advisory Group grew its stake in shares of Carnival by 2.9% during the fourth quarter. Net Worth Advisory Group now owns 12,383 shares of the company's stock valued at $378,000 after buying an additional 354 shares during the last quarter. Triad Wealth Partners LLC grew its stake in shares of Carnival by 2.1% during the fourth quarter. Triad Wealth Partners LLC now owns 17,464 shares of the company's stock valued at $533,000 after buying an additional 358 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of Carnival by 3.5% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 10,540 shares of the company's stock valued at $322,000 after buying an additional 358 shares during the last quarter. Finally, StoneX Group Inc. grew its stake in shares of Carnival by 4.9% during the fourth quarter. StoneX Group Inc. now owns 7,935 shares of the company's stock valued at $242,000 after buying an additional 368 shares during the last quarter. Institutional investors own 67.19% of the company's stock.

Carnival Company Profile

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.

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