Carnival Corporation (CCL) Forecasted to Earn Q3 2017 Earnings of $2.21 Per Share
Carnival Corporation (NYSE:CCL) – Equities research analysts at William Blair lifted their Q3 2017 earnings estimates for Carnival Corporation in a report issued on Wednesday. William Blair analyst S. Zackfia now anticipates that the company will post earnings of $2.21 per share for the quarter, up from their previous estimate of $2.20. William Blair has a “Outperform” rating on the stock.
CCL has been the subject of several other reports. Zacks Investment Research lowered shares of Carnival Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Carnival Corporation in a research note on Tuesday, August 15th. Deutsche Bank AG reiterated a “hold” rating and issued a $62.00 price target (up from $58.00) on shares of Carnival Corporation in a research note on Sunday, June 25th. Wedbush reiterated a “neutral” rating and issued a $66.00 price target (up from $61.00) on shares of Carnival Corporation in a research note on Sunday, June 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 price target (up from $68.00) on shares of Carnival Corporation in a research note on Friday, June 23rd. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Carnival Corporation has a consensus rating of “Buy” and a consensus price target of $63.27.
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Shares of Carnival Corporation (NYSE CCL) opened at 68.74 on Friday. The company has a market capitalization of $49.77 billion, a P/E ratio of 18.18 and a beta of 0.74. The stock’s 50 day moving average is $67.78 and its 200 day moving average is $63.29. Carnival Corporation has a 52-week low of $45.46 and a 52-week high of $69.89.
Carnival Corporation (NYSE:CCL) last posted its earnings results on Thursday, June 22nd. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pathstone Family Office LLC boosted its holdings in shares of Carnival Corporation by 200.0% in the second quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock worth $2,493,000 after buying an additional 38 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its holdings in shares of Carnival Corporation by 1.4% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock worth $191,000 after buying an additional 40 shares during the last quarter. Cleararc Capital Inc. boosted its holdings in shares of Carnival Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 10,237 shares of the company’s stock worth $603,000 after buying an additional 63 shares during the last quarter. Security National Bank of Sioux City Iowa IA boosted its holdings in shares of Carnival Corporation by 0.5% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,390 shares of the company’s stock worth $878,000 after buying an additional 65 shares during the last quarter. Finally, Scotia Capital Inc. boosted its holdings in shares of Carnival Corporation by 0.4% in the second quarter. Scotia Capital Inc. now owns 16,604 shares of the company’s stock worth $1,089,000 after buying an additional 71 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.
In other news, insider Alan Buckelew sold 15,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 150,860 shares of the company’s stock, valued at approximately $10,110,637.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 23.80% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Wednesday, August 23rd. Carnival Corporation’s payout ratio is presently 42.55%.
About Carnival Corporation
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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