Wall Street analysts forecast that Carnival Corp (NYSE:CCL) will post $4.09 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Carnival’s earnings, with estimates ranging from $4.07 billion to $4.11 billion. Carnival reported sales of $3.79 billion during the same quarter last year, which would suggest a positive year over year growth rate of 7.9%. The firm is expected to issue its next earnings report on Tuesday, March 27th.
On average, analysts expect that Carnival will report full year sales of $4.09 billion for the current year, with estimates ranging from $18.52 billion to $18.73 billion. For the next fiscal year, analysts forecast that the business will report sales of $20.08 billion per share, with estimates ranging from $19.76 billion to $20.39 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Carnival.
Carnival (NYSE:CCL) last released its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.51 by $0.12. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the company earned $0.67 EPS. Carnival’s revenue for the quarter was up 8.2% on a year-over-year basis.
In other news, General Counsel Arnaldo Perez sold 15,166 shares of Carnival stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total transaction of $1,009,903.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stein Kruse sold 60,665 shares of Carnival stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total value of $4,039,682.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,393 shares of company stock worth $20,524,631. Insiders own 23.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Grove Bank & Trust lifted its position in shares of Carnival by 367.8% during 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 in the last quarter. Smithfield Trust Co. lifted its holdings in Carnival by 826.2% in the 3rd quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock worth $182,000 after purchasing an additional 2,520 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its holdings in Carnival by 1.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock worth $191,000 after purchasing an additional 40 shares in the last quarter. Sun Life Financial INC lifted its holdings in Carnival by 23,315.4% in the 2nd quarter. Sun Life Financial INC now owns 3,044 shares of the company’s stock worth $200,000 after purchasing an additional 3,031 shares in the last quarter. Finally, Nine Chapters Capital Management LLC purchased a new position in Carnival in the 3rd quarter worth approximately $200,000. 75.93% of the stock is currently owned by hedge funds and other institutional investors.
Carnival (NYSE CCL) traded up $0.30 during midday trading on Tuesday, reaching $68.86. The company had a trading volume of 3,752,500 shares, compared to its average volume of 3,172,479. Carnival has a 52 week low of $53.03 and a 52 week high of $69.89. The company has a market cap of $49,560.00, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 1.16 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.18 and a quick ratio of 0.14.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.61%. Carnival’s payout ratio is currently 44.57%.
TRADEMARK VIOLATION NOTICE: “Zacks: Analysts Expect Carnival Corp (CCL) Will Post Quarterly Sales of $4.09 Billion” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/23/zacks-analysts-expect-carnival-corp-ccl-will-post-quarterly-sales-of-4-09-billion.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Carnival Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival and related companies with MarketBeat.com's FREE daily email newsletter.