Carnival Corp (NYSE:CCL) announced a quarterly dividend on Thursday, July 11th, RTT News reports. Stockholders of record on Friday, August 23rd will be paid a dividend of 0.50 per share on Friday, September 13th. This represents a $2.00 annualized dividend and a dividend yield of 4.37%. The ex-dividend date is Thursday, August 22nd.
Carnival has raised its dividend by an average of 21.0% annually over the last three years and has increased its dividend every year for the last 4 years. Carnival has a payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Carnival to earn $4.77 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 41.9%.
Shares of CCL stock opened at $45.74 on Tuesday. The firm has a 50-day moving average of $46.05 and a 200-day moving average of $51.98. The company has a market cap of $23.68 billion, a P/E ratio of 10.74, a P/E/G ratio of 1.07 and a beta of 1.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.27 and a quick ratio of 0.22. Carnival has a one year low of $43.97 and a one year high of $67.69.
CCL has been the subject of several analyst reports. Wedbush lowered their target price on shares of Carnival from $54.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Nomura downgraded shares of Carnival from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $60.00 to $52.00 in a report on Thursday, June 20th. Wolfe Research downgraded shares of Carnival from an “outperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Zacks Investment Research downgraded shares of Carnival from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Finally, Wells Fargo & Co decreased their price objective on shares of Carnival from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $61.26.
In other Carnival news, CEO Arnold W. Donald bought 22,050 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was purchased at an average price of $45.23 per share, for a total transaction of $997,321.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Randall J. Weisenburger acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was purchased at an average price of $46.50 per share, with a total value of $930,000.00. The disclosure for this purchase can be found here. 24.10% of the stock is owned by company insiders.
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.
Recommended Story: Why are percentage decliners important?
Receive News & Ratings for Carnival Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival and related companies with MarketBeat.com's FREE daily email newsletter.