Equities Analysts Issue Forecasts for Carnival Corp.’s FY2017 Earnings (CCL)
Carnival Corp. (NYSE:CCL) – Analysts at Wedbush cut their FY2017 earnings estimates for shares of Carnival Corp. in a note issued to investors on Friday. Wedbush analyst J. Hardiman now forecasts that the brokerage will post earnings of $3.65 per share for the year, down from their previous forecast of $3.66. Wedbush has a “Neutral” rating and a $54.00 price target on the stock.
Other research analysts have also issued reports about the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price objective on shares of Carnival Corp. in a research note on Tuesday, September 27th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Carnival Corp. in a research note on Wednesday, September 28th. Sanford C. Bernstein began coverage on shares of Carnival Corp. in a research note on Thursday, September 8th. They set a “market perform” rating and a $51.00 price objective for the company. Morgan Stanley lowered shares of Carnival Corp. from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $54.00 to $48.00 in a research note on Friday, September 2nd. Finally, Goldman Sachs Group Inc. lifted their price objective on shares of Carnival Corp. from $46.50 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $55.92.
Shares of Carnival Corp. (NYSE:CCL) opened at 46.15 on Monday. Carnival Corp. has a 52-week low of $40.52 and a 52-week high of $55.77. The stock has a market capitalization of $33.69 billion, a P/E ratio of 14.35 and a beta of 0.80. The stock has a 50 day moving average of $47.00 and a 200-day moving average of $47.74.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/equities-analysts-issue-forecasts-for-carnival-corp-s-fy2017-earnings-ccl.html
Carnival Corp. (NYSE:CCL) last released its earnings results on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.03. The firm had revenue of $5.10 billion for the quarter. Carnival Corp. had a net margin of 15.10% and a return on equity of 10.76%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.75 earnings per share.
Several large investors have recently modified their holdings of the company. Synovus Financial Corp raised its stake in shares of Carnival Corp. by 0.4% in the second quarter. Synovus Financial Corp now owns 6,689 shares of the company’s stock worth $295,000 after buying an additional 25 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Carnival Corp. by 0.3% in the second quarter. Thrivent Financial for Lutherans now owns 13,260 shares of the company’s stock worth $586,000 after buying an additional 40 shares in the last quarter. Capital Analysts LLC raised its stake in shares of Carnival Corp. by 3.7% in the second quarter. Capital Analysts LLC now owns 3,316 shares of the company’s stock worth $147,000 after buying an additional 118 shares in the last quarter. Conning Inc. raised its stake in shares of Carnival Corp. by 1.1% in the second quarter. Conning Inc. now owns 10,914 shares of the company’s stock worth $482,000 after buying an additional 120 shares in the last quarter. Finally, Capstone Asset Management Co. raised its stake in shares of Carnival Corp. by 0.5% in the second quarter. Capstone Asset Management Co. now owns 31,681 shares of the company’s stock worth $1,400,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 77.93% of the company’s stock.
In other news, CFO David Bernstein sold 4,030 shares of the business’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $49.18, for a total transaction of $198,195.40. Following the sale, the chief financial officer now owns 47,256 shares in the company, valued at $2,324,050.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 22.00% of the company’s stock.
About Carnival Corp.
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
Receive News & Ratings for Carnival Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival Corp. and related companies with MarketBeat.com's FREE daily email newsletter.