Carnival Corp (NYSE:CCL) announced a quarterly dividend on Thursday, July 19th, RTT News reports. Shareholders of record on Friday, August 24th will be paid a dividend of 0.50 per share on Friday, September 14th. This represents a $2.00 annualized dividend and a yield of 3.30%. The ex-dividend date is Thursday, August 23rd.

Carnival has increased its dividend payment by an average of 17.0% annually over the last three years and has increased its dividend every year for the last 3 years. Carnival has a payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Carnival to earn $4.85 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 41.2%.

Shares of NYSE:CCL opened at $60.58 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.20 and a current ratio of 0.24. Carnival has a 12-month low of $56.45 and a 12-month high of $72.70. The firm has a market cap of $31.62 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.94 and a beta of 0.86.

Carnival (NYSE:CCL) last announced its earnings results on Monday, June 25th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.09. Carnival had a net margin of 15.40% and a return on equity of 12.31%. The company had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the previous year, the business earned $0.52 EPS. The company’s revenue was up 10.4% on a year-over-year basis. sell-side analysts forecast that Carnival will post 4.24 earnings per share for the current fiscal year.

Several analysts have issued reports on CCL shares. Buckingham Research cut their target price on shares of Carnival from $84.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, May 25th. Credit Suisse Group set a $82.00 price target on shares of Carnival and gave the stock a “buy” rating in a research note on Thursday, April 26th. Zacks Investment Research downgraded shares of Carnival from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. Tigress Financial reaffirmed a “buy” rating on shares of Carnival in a research note on Friday, June 8th. Finally, ValuEngine downgraded shares of Carnival from a “hold” rating to a “sell” rating in a research note on Wednesday, June 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $74.44.

In other news, CEO Arnold W. Donald sold 5,000 shares of the company’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $62.91, for a total value of $314,550.00. Following the transaction, the chief executive officer now directly owns 132,648 shares of the company’s stock, valued at $8,344,885.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 23.80% of the company’s stock.

Carnival Company Profile

Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.

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Dividend History for Carnival (NYSE:CCL)

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