Carnival Corporation (CCL) Expected to Announce Quarterly Sales of $4.16 Billion
Equities research analysts expect Carnival Corporation (NYSE:CCL) to post sales of $4.16 billion for the current quarter, Zacks reports. Five analysts have made estimates for Carnival’s earnings, with the highest sales estimate coming in at $4.23 billion and the lowest estimate coming in at $4.14 billion. Carnival posted sales of $3.94 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, December 19th.
According to Zacks, analysts expect that Carnival 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 fiscal year, analysts forecast that the company will report sales of $18.40 billion per share, with estimates ranging from $18.11 billion to $18.70 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Carnival.
Carnival (NYSE:CCL) last issued its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.09. Carnival had a return on equity of 12.15% and a net margin of 15.53%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the company posted $1.92 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year.
In related news, CEO Arnold W. Donald sold 5,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $65.43, for a total transaction of $327,150.00. Following the sale, the chief executive officer now owns 115,572 shares in the company, valued at approximately $7,561,875.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.80% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Almanack Investment Partners LLC. bought a new stake in Carnival during the 2nd quarter worth $117,000. Grove Bank & Trust grew its position in shares of Carnival by 367.8% in the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after buying an additional 1,600 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Carnival by 109.4% in the 2nd 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 last quarter. Smithfield Trust Co. grew its position in shares of Carnival by 826.2% in the 3rd quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock valued at $182,000 after buying an additional 2,520 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC grew its position in shares of Carnival by 1.4% in the 2nd 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 last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.
Carnival (NYSE:CCL) opened at $66.00 on Friday. Carnival has a 52 week low of $49.84 and a 52 week high of $69.89. The company has a quick ratio of 0.16, a current ratio of 0.21 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $35,177.63, a price-to-earnings ratio of 17.01, a PEG ratio of 1.34 and a beta of 0.73.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.73%. This is a positive change from Carnival’s previous quarterly dividend of $0.40. Carnival’s payout ratio is currently 43.72%.
Carnival 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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