$4.16 Billion in Sales Expected for Carnival Corporation (CCL) This Quarter
Brokerages expect Carnival Corporation (NYSE:CCL) to post sales of $4.16 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Carnival Corporation’s earnings, with the lowest sales estimate coming in at $4.14 billion and the highest estimate coming in at $4.23 billion. Carnival Corporation posted sales of $3.94 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The firm is scheduled to announce its next earnings results on Tuesday, December 19th.
On average, analysts expect that Carnival Corporation will report full year sales of $4.16 billion for the current financial year, with estimates ranging from $17.39 billion to $17.48 billion. For the next financial year, analysts anticipate that the firm will post sales of $18.40 billion per share, with estimates ranging from $18.11 billion to $18.70 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Carnival Corporation.
Carnival Corporation (NYSE:CCL) last posted its earnings results on Tuesday, September 26th. The company reported $2.29 EPS for the quarter, topping 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 business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the company earned $1.92 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year.
A number of research analysts have commented on CCL shares. Zacks Investment Research upgraded shares of Carnival Corporation from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Tuesday, August 22nd. UBS AG reiterated a “buy” rating and set 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 target price on shares of Carnival Corporation in a report on Monday, July 24th. BidaskClub cut shares of Carnival Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $79.00 target price (up previously from $74.00) on shares of Carnival Corporation in a report on Wednesday, September 27th. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $66.24.
In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 150,860 shares of the company’s stock, valued at $10,110,637.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arnold W. Donald sold 90,903 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Company insiders own 23.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Almanack Investment Partners LLC. purchased a new position in Carnival Corporation during the second quarter valued at $117,000. Point72 Asia Hong Kong Ltd purchased a new position in Carnival Corporation during the first quarter valued at $138,000. Harbour Capital Advisors LLC purchased a new position in Carnival Corporation during the first quarter valued at $147,000. Bessemer Group Inc. lifted its position in Carnival Corporation by 109.4% during the second quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after buying an additional 1,368 shares during the period. Finally, YorkBridge Wealth Partners LLC lifted its position in Carnival Corporation by 1.4% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after buying an additional 40 shares during the period. 77.63% of the stock is owned by institutional investors and hedge funds.
Carnival Corporation (NYSE:CCL) traded down 0.87% during midday trading on Wednesday, reaching $65.84. 2,530,606 shares of the company traded hands. The company has a market capitalization of $47.47 billion, a price-to-earnings ratio of 17.91 and a beta of 0.71. Carnival Corporation has a one year low of $46.11 and a one year high of $69.89. The stock’s 50 day moving average is $66.02 and its 200 day moving average is $65.02.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be paid a $0.45 dividend. This is a positive change from Carnival Corporation’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.73%. Carnival Corporation’s dividend payout ratio (DPR) 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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