FY2017 Earnings Estimate for Carnival Corporation Issued By Wedbush (CCL)
Carnival Corporation (NYSE:CCL) – Analysts at Wedbush reduced their FY2017 earnings per share estimates for shares of Carnival Corporation in a research report issued to clients and investors on Monday. Wedbush analyst J. Hardiman now expects that the company will earn $3.68 per share for the year, down from their prior estimate of $3.69. Wedbush also issued estimates for Carnival Corporation’s Q4 2017 earnings at $0.49 EPS and FY2018 earnings at $4.16 EPS.
Carnival Corporation (NYSE:CCL) last released its quarterly earnings data on Tuesday, September 26th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the 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 the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. Carnival Corporation’s revenue for the quarter was up 8.2% on a year-over-year basis.
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Several other equities research analysts also recently weighed in on CCL. HSBC Holdings plc reissued a “buy” rating and issued a $71.00 target price (up previously from $65.00) on shares of Carnival Corporation in a research report on Monday, June 26th. KeyCorp downgraded shares of Carnival Corporation to an “overweight” rating in a research report on Thursday, July 6th. Zacks Investment Research raised shares of Carnival Corporation from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Wednesday, July 12th. Bank of America Corporation reissued a “buy” rating and issued a $73.20 target price on shares of Carnival Corporation in a research report on Monday, July 24th. Finally, BidaskClub lowered shares of Carnival Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $66.24.
Carnival Corporation (CCL) opened at 66.10 on Tuesday. Carnival Corporation has a 1-year low of $46.11 and a 1-year high of $69.89. The firm has a 50-day moving average of $66.05 and a 200 day moving average of $64.96. The firm has a market cap of $47.66 billion, a P/E ratio of 17.98 and a beta of 0.71.
Several large investors have recently modified their holdings of the company. Pathstone Family Office LLC lifted its stake in shares of Carnival Corporation by 200.0% in the 2nd quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock worth $2,493,000 after acquiring an additional 38 shares during the period. YorkBridge Wealth Partners LLC lifted its stake in shares of Carnival Corporation by 1.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock worth $191,000 after acquiring an additional 40 shares during the period. Security National Bank of Sioux City Iowa IA lifted its stake in shares of Carnival Corporation by 0.5% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 13,390 shares of the company’s stock worth $878,000 after acquiring an additional 65 shares during the period. Scotia Capital Inc. lifted its stake in shares of Carnival Corporation by 0.4% in the 2nd quarter. Scotia Capital Inc. now owns 16,604 shares of the company’s stock worth $1,089,000 after acquiring an additional 71 shares during the period. Finally, Ballentine Partners LLC lifted its stake in shares of Carnival Corporation by 1.7% in the 2nd quarter. Ballentine Partners LLC now owns 4,523 shares of the company’s stock worth $305,000 after acquiring an additional 75 shares during the period. 77.63% of the stock is owned by institutional investors.
In other news, CEO Arnold W. Donald sold 90,903 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $67.41, for a total value of $6,127,771.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alan Buckelew sold 15,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 150,860 shares of the company’s stock, valued at $10,110,637.20. The disclosure for this sale can be found here. Insiders own 23.80% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.72%. This is a positive change from Carnival Corporation’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, November 22nd. Carnival Corporation’s payout ratio is presently 43.72%.
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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