Analysts Anticipate Carnival Corporation (CCL) to Post $0.50 EPS
Equities research analysts expect Carnival Corporation (NYSE:CCL) to announce earnings of $0.50 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Carnival Corporation’s earnings, with estimates ranging from $0.45 to $0.53. Carnival Corporation posted earnings per share of $0.67 in the same quarter last year, which suggests a negative year over year growth rate of 25.4%. The company is scheduled to announce its next quarterly earnings report on Tuesday, December 19th.
On average, analysts expect that Carnival Corporation will report full year earnings of $3.70 per share for the current year, with EPS estimates ranging from $3.68 to $3.72. For the next year, analysts anticipate that the company will post earnings of $4.26 per share, with EPS estimates ranging from $4.09 to $4.55. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Carnival Corporation.
Carnival Corporation (NYSE:CCL) last released its quarterly earnings data on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.09. Carnival Corporation had a net margin of 15.53% and a return on equity of 12.15%. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year.
CCL has been the topic of several research analyst reports. Credit Suisse Group downgraded Carnival Corporation from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $78.00 to $70.00 in a report on Friday, September 15th. Zacks Investment Research cut Carnival Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 25th. Stifel Nicolaus restated a “buy” rating and set a $68.00 target price on shares of Carnival Corporation in a report on Friday, June 16th. KeyCorp downgraded Carnival Corporation to an “overweight” rating in a research report on Thursday, July 6th. Finally, Instinet lifted their target price on Carnival Corporation from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, June 23rd. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $65.07.
In other news, insider Alan Buckelew sold 15,000 shares of Carnival Corporation stock in a transaction dated Monday, July 31st. The stock was 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 in the company, valued at $10,110,637.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Carnival Corporation by 2,672.9% during the 1st quarter. BlackRock Inc. now owns 27,919,132 shares of the company’s stock worth $1,644,716,000 after buying an additional 26,912,293 shares during the last quarter. Alliancebernstein L.P. increased its position in Carnival Corporation by 316.9% during the second quarter. Alliancebernstein L.P. now owns 4,236,266 shares of the company’s stock worth $277,772,000 after buying an additional 3,220,191 shares during the period. Janus Henderson Group PLC increased its position in Carnival Corporation by 115.5% during the second quarter. Janus Henderson Group PLC now owns 3,088,143 shares of the company’s stock worth $202,505,000 after buying an additional 1,655,345 shares during the period. Bank of America Corp DE increased its position 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 worth $1,463,234,000 after buying an additional 1,519,630 shares during the period. Finally, Numeric Investors LLC increased its position in Carnival Corporation by 160.4% during the second quarter. Numeric Investors LLC now owns 2,416,066 shares of the company’s stock worth $158,421,000 after buying an additional 1,488,366 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.
Carnival Corporation (CCL) opened at 64.10 on Wednesday. The company has a market capitalization of $46.22 billion, a PE ratio of 17.43 and a beta of 0.71. Carnival Corporation has a one year low of $45.92 and a one year high of $69.89. The firm’s 50-day moving average is $66.71 and its 200 day moving average is $64.15.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.50%. Carnival Corporation’s dividend payout ratio (DPR) is presently 43.72%.
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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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