Traders Buy Carnival (CCL) on Weakness After Insider Selling
Traders purchased shares of Carnival Corporation (NYSE:CCL) on weakness during trading on Friday after an insider sold shares in the company. $87.15 million flowed into the stock on the tick-up and $30.95 million flowed out of the stock on the tick-down, for a money net flow of $56.20 million into the stock. Of all stocks tracked, Carnival had the 22nd highest net in-flow for the day. Carnival traded down ($0.46) for the day and closed at $68.56Specifically, General Counsel Arnaldo Perez sold 15,166 shares of the company’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total value of $1,009,903.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sir Jonathon Band sold 3,840 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $69.59, for a total transaction of $267,225.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 306,393 shares of company stock worth $20,524,631. 23.80% of the stock is owned by insiders.
Several research firms have commented on CCL. Instinet reaffirmed a “buy” rating and issued a $75.00 price target on shares of Carnival in a report on Monday, October 2nd. Nomura reaffirmed a “buy” rating and issued a $75.00 price target on shares of Carnival in a report on Friday, September 29th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Carnival in a report on Thursday, September 28th. Argus reaffirmed a “neutral” rating and issued a $67.00 price target (down from $78.00) on shares of Carnival in a report on Thursday, September 28th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $79.00 target price (up from $74.00) on shares of Carnival in a research note on Wednesday, September 27th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $72.78.
The company has a quick ratio of 0.14, a current ratio of 0.18 and a debt-to-equity ratio of 0.29. The stock has a market cap of $49,100.00, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.18 and a beta of 0.73.
Carnival (NYSE:CCL) last released its quarterly earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.12. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. research analysts anticipate that Carnival Corporation will post 4.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 23rd will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, February 22nd. This represents a $1.80 annualized dividend and a dividend yield of 2.63%. Carnival’s dividend payout ratio (DPR) is presently 44.57%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CCL. State of Alaska Department of Revenue raised its holdings in Carnival by 169.2% in the 4th quarter. State of Alaska Department of Revenue now owns 55,259 shares of the company’s stock valued at $3,665,000 after acquiring an additional 34,735 shares during the last quarter. Oakbrook Investments LLC raised its holdings in Carnival by 362.6% in the 4th quarter. Oakbrook Investments LLC now owns 21,050 shares of the company’s stock valued at $1,397,000 after acquiring an additional 16,500 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Carnival by 2.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,575,261 shares of the company’s stock valued at $104,551,000 after acquiring an additional 43,937 shares during the last quarter. First National Trust Co raised its holdings in Carnival by 31.1% in the 4th quarter. First National Trust Co now owns 43,568 shares of the company’s stock valued at $2,892,000 after acquiring an additional 10,336 shares during the last quarter. Finally, Creative Planning raised its holdings in Carnival by 11.1% in the 4th quarter. Creative Planning now owns 20,782 shares of the company’s stock valued at $1,379,000 after acquiring an additional 2,075 shares during the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.
TRADEMARK VIOLATION WARNING: This news story was reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this news story on another website, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this news story can be viewed at https://theolympiareport.com/2018/01/20/traders-buy-carnival-ccl-on-weakness-after-insider-selling.html.
Carnival Company Profile
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.
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.