Analysts Anticipate Carnival Corporation (CCL) to Announce $0.42 Earnings Per Share

Analysts expect Carnival Corporation (NYSE:CCL) to report earnings of $0.42 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Carnival’s earnings, with estimates ranging from $0.40 to $0.45. Carnival posted earnings per share of $0.38 during the same quarter last year, which indicates a positive year over year growth rate of 10.5%. The company is expected to announce its next earnings report on Tuesday, March 27th.

On average, analysts expect that Carnival will report full year earnings of $4.24 per share for the current year, with EPS estimates ranging from $4.16 to $4.30. For the next financial year, analysts expect that the firm will report earnings of $4.83 per share, with EPS estimates ranging from $4.69 to $5.00. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Carnival.

Carnival (NYSE:CCL) last posted its earnings results on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.12. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS.

A number of analysts have commented on the company. Stifel Nicolaus lifted their target price on Carnival from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. Buckingham Research reissued a “buy” rating and issued a $84.00 target price (up previously from $80.00) on shares of Carnival in a report on Wednesday, December 20th. Deutsche Bank lifted their target price on Carnival to $70.00 and gave the stock a “hold” rating in a report on Wednesday, December 20th. Barclays lifted their price objective on Carnival from $67.00 to $73.00 and gave the stock an “equal weight” rating in a report on Thursday, December 21st. Finally, Zacks Investment Research lowered Carnival from a “hold” rating to a “sell” rating in a report on Tuesday, November 28th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Carnival has a consensus rating of “Buy” and a consensus price target of $72.78.

Shares of Carnival (NYSE:CCL) opened at $68.56 on Friday. The company has a market capitalization of $49,100.00, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 1.17 and a beta of 0.73. Carnival has a fifty-two week low of $53.03 and a fifty-two week high of $69.89. The company has a quick ratio of 0.14, a current ratio of 0.18 and a debt-to-equity ratio of 0.29.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 23rd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, February 22nd. Carnival’s payout ratio is currently 44.57%.

In related news, CEO Arnold W. Donald sold 5,000 shares of Carnival stock in a transaction on Friday, December 1st. The stock was sold at an average price of $65.57, for a total transaction of $327,850.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sir Jonathon Band sold 3,840 shares of Carnival stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $69.59, for a total value of $267,225.60. The disclosure for this sale can be found here. Insiders have sold 306,393 shares of company stock worth $20,524,631 over the last quarter. 23.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCL. Eaton Vance Management purchased a new position in Carnival during the second quarter valued at $1,028,000. Profund Advisors LLC lifted its position in Carnival by 20.7% during the second quarter. Profund Advisors LLC now owns 13,968 shares of the company’s stock valued at $916,000 after purchasing an additional 2,399 shares in the last quarter. Thrivent Financial For Lutherans lifted its position in Carnival by 7.3% during the second quarter. Thrivent Financial For Lutherans now owns 17,528 shares of the company’s stock valued at $1,149,000 after purchasing an additional 1,198 shares in the last quarter. FMR LLC lifted its position in Carnival by 125.7% during the second quarter. FMR LLC now owns 511,670 shares of the company’s stock valued at $33,550,000 after purchasing an additional 284,926 shares in the last quarter. Finally, ETRADE Capital Management LLC purchased a new position in Carnival during the second quarter valued at $206,000. Institutional investors own 75.91% of the company’s stock.

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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.

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Earnings History and Estimates for Carnival (NYSE:CCL)

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