Key Points
- Insider sale: Carnival insider Bettina Alejandra Deynes sold 43,058 shares for about $1.21 million at an average price of $28.10, reducing her ownership by 38.34%.
- Stock and fundamentals: Carnival shares were down 1.8% and opened at $27.55, near but below the 200-day average. The company still posted better-than-expected Q1 results, with EPS of $0.20 on revenue of $6.17 billion.
- Mixed outlook: Analysts remain split but generally positive, with a consensus rating of Moderate Buy and a $34.80 price target. However, recent concerns include a data breach affecting millions of customers and a lower price target from Truist.
Carnival Corporation (NYSE:CCL - Get Free Report) insider Bettina Alejandra Deynes sold 43,058 shares of the company's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the transaction, the insider owned 69,238 shares of the company's stock, valued at $1,945,587.80. This trade represents a 38.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Carnival Stock Down 1.8%
Shares of NYSE:CCL opened at $27.55 on Tuesday. The company has a fifty day moving average of $26.41 and a 200-day moving average of $28.04. The company has a market capitalization of $34.13 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.25 and a beta of 2.32. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.26 and a current ratio of 0.30. Carnival Corporation has a 52-week low of $22.11 and a 52-week high of $34.03.
Carnival (NYSE:CCL - Get Free Report) last announced its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion. Carnival had a net margin of 11.48% and a return on equity of 26.92%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. On average, equities analysts predict that Carnival Corporation will post 2.21 EPS for the current fiscal year.
Carnival Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, May 18th. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. Carnival's dividend payout ratio is 26.67%.
Key Headlines Impacting Carnival
Here are the key news stories impacting Carnival this week:
- Positive Sentiment: Carnival highlighted a cruise-industry first by successfully using LNG bunkering in Latin America and the Western Caribbean, supporting its decarbonization strategy and potentially improving its long-term operating profile. Carnival Corporation Brings Cruise Industry's First LNG Bunkering to Latin America & Western Caribbean
- Neutral Sentiment: Truist lowered its price target on Carnival to $29 from $30 while keeping a Hold rating, which signals a modestly less bullish view but not a major change in fundamentals. Truist Lowers PT on Carnival Corporation (CCL) Stock
- Neutral Sentiment: The company’s Q1 results previously beat expectations, with stronger-than-expected revenue and earnings, but that good news appears to be more than offset by newer concerns.
- Negative Sentiment: Carnival disclosed a data breach affecting millions of customers, including sensitive personal information, which could create legal, reputational, and remediation costs. Carnival Corporation data breach affects 5.9 million customers
- Negative Sentiment: An insider sold more than 43,000 shares, which can weigh on investor sentiment even if the transaction may have personal rather than business-related motivations. Carnival insider sale disclosure
- Negative Sentiment: A separate article noted Carnival stock declined as the broader market improved, reflecting weak near-term trading momentum. Carnival (CCL) Stock Declines While Market Improves: Some Information for Investors
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Carnival from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. The Goldman Sachs Group lowered their price target on shares of Carnival from $34.00 to $30.00 and set a "buy" rating for the company in a report on Wednesday, March 11th. Morgan Stanley upgraded shares of Carnival from an "equal weight" rating to an "overweight" rating and lowered their price target for the stock from $33.00 to $31.00 in a report on Thursday, March 19th. HSBC upgraded Carnival from a "hold" rating to a "buy" rating and decreased their price objective for the company from $33.60 to $30.10 in a report on Monday, March 30th. Finally, Loop Capital assumed coverage on Carnival in a report on Monday. They issued a "buy" rating and a $36.00 price objective for the company. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.80.
Read Our Latest Stock Report on Carnival
Institutional Trading of Carnival
A number of institutional investors have recently bought and sold shares of the company. CVA Family Office LLC boosted its position in Carnival by 15.6% during the fourth quarter. CVA Family Office LLC now owns 2,597 shares of the company's stock valued at $79,000 after acquiring an additional 350 shares during the last quarter. Net Worth Advisory Group boosted its position in Carnival by 2.9% during the fourth quarter. Net Worth Advisory Group now owns 12,383 shares of the company's stock valued at $378,000 after acquiring an additional 354 shares during the last quarter. Triad Wealth Partners LLC boosted its position in Carnival by 2.1% during the fourth quarter. Triad Wealth Partners LLC now owns 17,464 shares of the company's stock valued at $533,000 after acquiring an additional 358 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Carnival by 3.5% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 10,540 shares of the company's stock valued at $322,000 after acquiring an additional 358 shares during the last quarter. Finally, StoneX Group Inc. boosted its position in Carnival by 4.9% during the fourth quarter. StoneX Group Inc. now owns 7,935 shares of the company's stock valued at $242,000 after acquiring an additional 368 shares during the last quarter. Institutional investors own 67.19% of the company's stock.
Carnival Company Profile
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Get Free Report)
Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company's core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.
Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.
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