William Blair Equities Analysts Reduce Earnings Estimates for Carnival Corporation (CCL)
Carnival Corporation (NYSE:CCL) – Investment analysts at William Blair dropped their FY2017 earnings per share (EPS) estimates for Carnival in a research note issued to investors on Monday. William Blair analyst S. Zackfia now forecasts that the company will post earnings per share of $3.66 for the year, down from their prior estimate of $3.69. William Blair also issued estimates for Carnival’s Q4 2017 earnings at $0.47 EPS, Q1 2018 earnings at $0.38 EPS, Q3 2018 earnings at $2.52 EPS, Q4 2018 earnings at $0.75 EPS, FY2018 earnings at $4.26 EPS and FY2019 earnings at $4.77 EPS.
Carnival (NYSE:CCL) last released its earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.09. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.39 billion. Carnival had a return on equity of 12.15% and a net margin of 15.53%. Carnival’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.92 EPS.
Shares of Carnival (CCL) opened at $67.03 on Tuesday. The stock has a market capitalization of $35,852.79, a price-to-earnings ratio of 17.33, a PEG ratio of 1.19 and a beta of 0.73. Carnival has a 1-year low of $50.77 and a 1-year high of $69.89. The company has a current ratio of 0.21, a quick ratio of 0.16 and a debt-to-equity ratio of 0.32.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.69%. This is an increase from Carnival’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, November 22nd. Carnival’s dividend payout ratio (DPR) is 43.72%.
In other news, CEO Arnold W. Donald sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $65.43, for a total transaction of $327,150.00. Following the completion of the transaction, the chief executive officer now directly owns 115,572 shares in the company, valued at $7,561,875.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 100,903 shares of company stock valued at $6,782,771 over the last 90 days. 23.80% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Pathstone Family Office LLC increased its holdings in Carnival by 200.0% in the second quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock worth $2,493,000 after purchasing an additional 38 shares in the last quarter. Vantage Financial Partners Ltd. Inc. bought a new stake in Carnival in the second quarter worth approximately $289,000. Almanack Investment Partners LLC. bought a new stake in Carnival in the second quarter worth approximately $117,000. Grove Bank & Trust increased its holdings in shares of Carnival by 367.8% during the third quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Carnival 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 acquiring an additional 1,368 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.
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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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