Carnival Corporation to Issue Quarterly Dividend of $0.45 (CCL)

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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About Carnival

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.

Dividend History for Carnival (NYSE:CCL)

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