Traders Purchase High Volume of Call Options on Carnival (NYSE:CCL)

Carnival Corp (NYSE:CCL) saw unusually large options trading activity on Thursday. Stock traders purchased 10,403 call options on the stock. This is an increase of approximately 1,308% compared to the average daily volume of 739 call options.

A number of research analysts have commented on the stock. Berenberg Bank reiterated a “buy” rating and set a GBX 100 ($1.31) price objective on shares of in a research note on Monday, July 1st. William Blair reiterated an “outperform” rating on shares of American Software in a research note on Thursday, June 20th. Barclays increased their price objective on shares of from GBX 200 ($2.61) to GBX 210 ($2.74) and gave the company an “equal weight” rating in a research note on Friday, June 21st. Wedbush set a $130.00 price target on shares of Childrens Place and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, Nomura raised their price target on shares of Voyager Therapeutics from $26.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.83.

Shares of NYSE CCL opened at $46.26 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.38. The firm has a market cap of $24.15 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 1.09 and a beta of 1.09. The stock’s 50-day moving average is $49.43. Carnival has a 12-month low of $44.76 and a 12-month high of $67.69.

Carnival (NYSE:CCL) last posted its earnings results on Thursday, June 20th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the prior year, the business earned $0.68 EPS. Carnival’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, research analysts predict that Carnival will post 4.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.32%. Carnival’s payout ratio is 46.95%.

In other news, Director Randall J. Weisenburger purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was acquired at an average cost of $46.50 per share, with a total value of $930,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Arnold W. Donald purchased 22,050 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were purchased at an average cost of $45.23 per share, with a total value of $997,321.50. The disclosure for this purchase can be found here. 24.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Diversified Trust Co acquired a new position in Carnival during the 2nd quarter worth approximately $474,000. Jackson Wealth Management LLC acquired a new position in Carnival during the 2nd quarter worth approximately $2,819,000. Xact Kapitalforvaltning AB boosted its position in Carnival by 5.9% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 78,817 shares of the company’s stock worth $3,669,000 after acquiring an additional 4,405 shares during the last quarter. Rothschild Investment Corp IL boosted its position in Carnival by 2.2% during the 2nd quarter. Rothschild Investment Corp IL now owns 18,750 shares of the company’s stock worth $873,000 after acquiring an additional 400 shares during the last quarter. Finally, PFS Investments Inc. boosted its position in Carnival by 306.5% during the 2nd quarter. PFS Investments Inc. now owns 40,285 shares of the company’s stock worth $1,890,000 after acquiring an additional 30,374 shares during the last quarter. 74.92% of the stock is owned by institutional investors and hedge funds.

About Carnival

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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