Carnival Sees Unusually High Options Volume (CCL)

Carnival Corp (NYSE:CCL) saw some unusual options trading on Thursday. Stock traders acquired 17,925 put options on the company. This is an increase of approximately 1,057% compared to the typical volume of 1,549 put options.

In other news, General Counsel Arnaldo Perez sold 7,000 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $64.26, for a total value of $449,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 23.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of CCL. OppenheimerFunds Inc. grew its stake in shares of Carnival by 15.6% in the 1st quarter. OppenheimerFunds Inc. now owns 9,178,493 shares of the company’s stock worth $601,926,000 after buying an additional 1,236,840 shares during the last quarter. Long Pond Capital LP bought a new position in Carnival in the 2nd quarter valued at approximately $51,309,000. Miller Howard Investments Inc. NY bought a new position in Carnival in the 2nd quarter valued at approximately $48,378,000. Hexavest Inc. bought a new position in Carnival in the 2nd quarter valued at approximately $38,186,000. Finally, Unigestion Holding SA bought a new position in Carnival in the 2nd quarter valued at approximately $34,652,000. Institutional investors own 75.64% of the company’s stock.

CCL has been the subject of a number of recent research reports. Credit Suisse Group set a $75.00 target price on Carnival and gave the company a “buy” rating in a research note on Thursday, September 13th. Zacks Investment Research lowered Carnival from a “hold” rating to a “sell” rating in a research report on Monday, August 27th. Goldman Sachs Group set a $70.00 price target on Carnival and gave the company a “hold” rating in a research report on Monday, September 24th. Buckingham Research upped their price target on Carnival from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, September 28th. Finally, Berenberg Bank raised Carnival from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $72.86.

Shares of CCL stock traded up $0.39 during midday trading on Friday, reaching $58.24. 3,056,218 shares of the stock were exchanged, compared to its average volume of 3,781,914. Carnival has a 1 year low of $56.45 and a 1 year high of $72.70. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.17 and a current ratio of 0.22. The company has a market capitalization of $33.60 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92.

Carnival (NYSE:CCL) last posted its earnings results on Thursday, September 27th. The company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.04. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.80 billion. Carnival had a return on equity of 12.30% and a net margin of 17.15%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.29 EPS. Sell-side analysts forecast that Carnival will post 4.25 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 24th were paid a $0.50 dividend. The ex-dividend date was Thursday, August 23rd. This represents a $2.00 annualized dividend and a dividend yield of 3.43%. Carnival’s payout ratio is currently 52.36%.

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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