Carnival Corporation (NYSE:CCL) declared a quarterly dividend on Thursday, January 18th, RTT News reports. Investors of record on Friday, February 23rd will be paid a dividend of 0.45 per share on Friday, March 16th. This represents a $1.80 annualized dividend and a yield of 2.61%.
Carnival has raised its dividend payment by an average of 17.0% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Carnival has a payout ratio of 42.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Carnival to earn $4.83 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 37.3%.
Carnival (NYSE CCL) opened at $69.02 on Friday. The stock has a market cap of $37,213.81, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.18 and a beta of 0.73. Carnival has a 12 month low of $53.03 and a 12 month high of $69.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.14 and a current ratio of 0.18.
Carnival (NYSE:CCL) last issued its earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.12. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.15 billion. Carnival had a net margin of 14.88% and a return on equity of 11.78%. Carnival’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 earnings per share. analysts predict that Carnival will post 4.24 EPS for the current year.
In other news, General Counsel Arnaldo Perez sold 15,166 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total value of $1,009,903.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Arnold W. Donald sold 5,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 306,393 shares of company stock worth $20,524,631. Corporate insiders own 23.80% of the company’s stock.
Several research analysts recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of Carnival from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Susquehanna Bancshares increased their target price on shares of Carnival from $75.00 to $76.00 and gave the stock a “positive” rating in a research note on Monday, September 25th. Zacks Investment Research raised shares of Carnival from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Thursday, September 21st. Credit Suisse Group reissued a “neutral” rating on shares of Carnival in a research note on Thursday, September 28th. Finally, Instinet reissued a “buy” rating and set a $75.00 target price on shares of Carnival in a research note on Monday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.78.
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Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
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