Q3 2017 EPS Estimates for Carnival Corporation Cut by Analyst (CCL)
Carnival Corporation (NYSE:CCL) – Investment analysts at Wedbush lowered their Q3 2017 earnings per share (EPS) estimates for shares of Carnival Corporation in a research report issued on Tuesday. Wedbush analyst J. Hardiman now anticipates that the company will earn $2.19 per share for the quarter, down from their previous forecast of $2.21. Wedbush has a “Neutral” rating and a $66.00 price target on the stock. Wedbush also issued estimates for Carnival Corporation’s FY2017 earnings at $3.76 EPS.
Carnival Corporation (NYSE:CCL) last announced its quarterly earnings results on Thursday, June 22nd. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the business earned $0.49 earnings per share. Carnival Corporation’s revenue was up 6.5% compared to the same quarter last year. ILLEGAL ACTIVITY WARNING: “Q3 2017 EPS Estimates for Carnival Corporation Cut by Analyst (CCL)” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/09/14/q3-2017-eps-estimates-for-carnival-corporation-cut-by-analyst-ccl.html.
A number of other research firms have also commented on CCL. Instinet boosted their price target on shares of Carnival Corporation from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, June 23rd. UBS AG restated a “buy” rating and issued a $76.00 price target (up from $67.00) on shares of Carnival Corporation in a research report on Thursday, August 17th. Bank of America Corporation restated a “buy” rating and issued a $73.20 price target on shares of Carnival Corporation in a research report on Monday, July 24th. BidaskClub lowered shares of Carnival Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research lowered shares of Carnival Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $63.27.
Shares of Carnival Corporation (CCL) opened at 68.42 on Thursday. The firm has a market cap of $49.54 billion, a price-to-earnings ratio of 18.10 and a beta of 0.74. Carnival Corporation has a 52 week low of $45.29 and a 52 week high of $69.89. The firm has a 50 day moving average of $67.68 and a 200 day moving average of $63.21.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, August 23rd. Carnival Corporation’s dividend payout ratio (DPR) is 42.55%.
In related news, insider Alan Buckelew sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the completion of the sale, the insider now directly owns 150,860 shares of the company’s stock, valued at $10,110,637.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 23.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Carnival Corporation by 3.3% during the second quarter. Vanguard Group Inc. now owns 28,919,554 shares of the company’s stock valued at $1,896,255,000 after purchasing an additional 934,311 shares during the period. BlackRock Inc. grew its holdings in Carnival Corporation by 2.0% during the second quarter. BlackRock Inc. now owns 28,469,248 shares of the company’s stock valued at $1,866,728,000 after purchasing an additional 550,116 shares during the period. Bank of America Corp DE grew its holdings in Carnival Corporation by 6.5% during the first quarter. Bank of America Corp DE now owns 24,838,450 shares of the company’s stock valued at $1,463,234,000 after purchasing an additional 1,519,630 shares during the period. State Street Corp grew its holdings in Carnival Corporation by 1.6% during the first quarter. State Street Corp now owns 17,999,377 shares of the company’s stock valued at $1,060,346,000 after purchasing an additional 284,607 shares during the period. Finally, Investec Asset Management LTD grew its holdings in Carnival Corporation by 6.5% during the second quarter. Investec Asset Management LTD now owns 4,961,591 shares of the company’s stock valued at $325,332,000 after purchasing an additional 303,161 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.
Carnival Corporation 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.
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