Investors Buy Carnival (CCL) on Weakness

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Investors bought shares of Carnival Corp (NYSE:CCL) on weakness during trading hours on Thursday. $68.71 million flowed into the stock on the tick-up and $35.58 million flowed out of the stock on the tick-down, for a money net flow of $33.13 million into the stock. Of all companies tracked, Carnival had the 30th highest net in-flow for the day. Carnival traded down ($1.35) for the day and closed at $56.96

Several equities research analysts have issued reports on the stock. ValuEngine raised shares of Carnival from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th. Cleveland Research raised shares of Carnival from a “neutral” rating to a “buy” rating in a research note on Monday, December 17th. Wolfe Research set a $73.00 price target on shares of Carnival and gave the stock a “buy” rating in a research note on Tuesday, December 11th. Deutsche Bank decreased their price target on shares of Carnival to $60.00 and set a “hold” rating on the stock in a research note on Friday, December 21st. Finally, Macquarie raised shares of Carnival from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $58.00 to $66.00 in a research note on Friday, January 25th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $70.01.

The company has a current ratio of 0.24, a quick ratio of 0.19 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $30.01 billion, a PE ratio of 13.29, a P/E/G ratio of 0.80 and a beta of 1.25.

Carnival (NYSE:CCL) last released its earnings results on Thursday, December 20th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Carnival had a net margin of 16.70% and a return on equity of 12.44%. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period last year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Research analysts anticipate that Carnival Corp will post 4.75 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 22nd will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 3.53%. Carnival’s dividend payout ratio is presently 46.95%.

In other Carnival news, CEO Arnold W. Donald purchased 21,595 shares of the business’s stock in a transaction that occurred on Wednesday, December 26th. The shares were purchased at an average price of $46.43 per share, for a total transaction of $1,002,655.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Arnaldo Perez sold 2,290 shares of the firm’s stock in a transaction that occurred on Friday, January 11th. The shares were sold at an average price of $52.27, for a total transaction of $119,698.30. The disclosure for this sale can be found here. 23.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors raised its holdings in Carnival by 94.4% in the third quarter. Capital World Investors now owns 16,838,371 shares of the company’s stock valued at $1,073,783,000 after buying an additional 8,176,078 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Carnival by 4,485.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,764,160 shares of the company’s stock valued at $178,000 after purchasing an additional 8,573,046 shares during the period. OppenheimerFunds Inc. raised its stake in shares of Carnival by 1.9% during the third quarter. OppenheimerFunds Inc. now owns 7,295,657 shares of the company’s stock valued at $465,245,000 after purchasing an additional 135,561 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Carnival by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 3,921,357 shares of the company’s stock valued at $224,733,000 after purchasing an additional 55,116 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Carnival by 30.0% during the third quarter. Janus Henderson Group PLC now owns 3,745,501 shares of the company’s stock valued at $238,841,000 after purchasing an additional 863,411 shares during the period. Hedge funds and other institutional investors own 75.52% of the company’s stock.

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About Carnival (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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