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.

Earnings History and Estimates for Carnival Corporation (NYSE:CCL)

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