Meridian Wealth Advisors LLC cut its holdings in Carnival Corp (NYSE:CCL) by 13.5% in the 1st quarter, Holdings Channel reports. The fund owned 4,907 shares of the company’s stock after selling 763 shares during the period. Meridian Wealth Advisors LLC’s holdings in Carnival were worth $249,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Carnival in the 1st quarter valued at $745,000. Parametrica Management Ltd acquired a new stake in shares of Carnival during the 1st quarter worth $245,000. Trustcore Financial Services LLC acquired a new stake in shares of Carnival during the 1st quarter worth $80,000. Hanson McClain Inc. increased its holdings in shares of Carnival by 20.2% during the 1st quarter. Hanson McClain Inc. now owns 1,711 shares of the company’s stock worth $87,000 after buying an additional 287 shares during the last quarter. Finally, Holistic Financial Partners acquired a new stake in shares of Carnival during the 1st quarter worth $219,000. Institutional investors own 76.75% of the company’s stock.
CCL has been the subject of a number of research analyst reports. Nomura dropped their price objective on Carnival from $66.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Buckingham Research dropped their price objective on Carnival from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Goldman Sachs Group upgraded Carnival from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $63.00 to $65.00 in a report on Wednesday, March 13th. Standpoint Research downgraded Carnival from a “buy” rating to a “hold” rating and set a $57.16 price objective for the company. in a report on Wednesday, January 30th. Finally, ValuEngine upgraded Carnival from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $66.70.
Carnival (NYSE:CCL) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Carnival had a net margin of 16.03% and a return on equity of 12.30%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. Analysts forecast that Carnival Corp will post 4.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be paid a $0.50 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.75%. Carnival’s dividend payout ratio (DPR) is presently 46.95%.
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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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