Carnival Corporation (NYSE:CCL) – Analysts at SunTrust Banks increased their Q3 2018 EPS estimates for Carnival in a note issued to investors on Tuesday. SunTrust Banks analyst P. Scholes now anticipates that the company will post earnings per share of $2.63 for the quarter, up from their prior estimate of $2.52. SunTrust Banks currently has a “Buy” rating and a $84.00 target price on the stock. SunTrust Banks also issued estimates for Carnival’s Q4 2019 earnings at $0.97 EPS and FY2019 earnings at $4.94 EPS.

A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Carnival from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Tuesday, September 5th. Credit Suisse Group cut shares of Carnival from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $78.00 to $70.00 in a research note on Friday, September 15th. Morgan Stanley raised shares of Carnival from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $65.94 to $68.00 in a research note on Wednesday, December 6th. Finally, Deutsche Bank reissued a “hold” rating and issued a $61.00 price objective (down from $62.00) on shares of Carnival in a research note on Wednesday, September 27th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $72.89.

Shares of Carnival (NYSE CCL) traded down $0.43 during midday trading on Thursday, reaching $67.70. 3,206,900 shares of the company were exchanged, compared to its average volume of 3,180,739. The firm has a market cap of $36,506.50, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73. Carnival has a 12-month low of $51.70 and a 12-month high of $69.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.16 and a current ratio of 0.21.

Carnival (NYSE:CCL) last issued its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.12. The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Carnival had a net margin of 14.88% and a return on equity of 11.90%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its holdings in Carnival by 2,540.0% in the third quarter. Assenagon Asset Management S.A. now owns 263,997 shares of the company’s stock valued at $17,046,000 after buying an additional 253,997 shares during the period. Prudential Financial Inc. raised its holdings in Carnival by 4.3% in the second quarter. Prudential Financial Inc. now owns 669,634 shares of the company’s stock valued at $43,908,000 after buying an additional 27,330 shares during the period. Homrich & Berg purchased a new position in Carnival in the second quarter valued at approximately $272,000. Covenant Multifamily Offices LLC raised its stake in shares of Carnival by 2.4% during the second quarter. Covenant Multifamily Offices LLC now owns 39,931 shares of the company’s stock valued at $2,618,000 after purchasing an additional 929 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Carnival by 14.7% during the second quarter. Victory Capital Management Inc. now owns 34,549 shares of the company’s stock valued at $2,265,000 after purchasing an additional 4,422 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

In related news, CEO Arnold W. Donald sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $68.00, for a total value of $408,000.00. Following the sale, the chief executive officer now directly owns 115,572 shares of the company’s stock, valued at $7,858,896. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arnold W. Donald sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $65.57, for a total transaction of $327,850.00. The disclosure for this sale can be found here. Insiders sold 106,903 shares of company stock worth $7,190,771 over the last three months. Corporate insiders own 23.80% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were given a $0.45 dividend. The ex-dividend date was Wednesday, November 22nd. This is a boost from Carnival’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.66%. Carnival’s dividend payout ratio (DPR) is currently 44.57%.

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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.

Earnings History and Estimates for Carnival (NYSE:CCL)

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