Zacks: Analysts Expect Carnival Corp (CCL) Will Post Quarterly Sales of $4.09 Billion

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.

Several research firms recently commented on CCL. Stifel Nicolaus lifted their price objective 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 from $80.00) on shares of Carnival in a research report on Wednesday, December 20th. Deutsche Bank raised their target price on Carnival to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, December 20th. Barclays raised their target price on Carnival from $67.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 21st. Finally, Zacks Investment Research cut Carnival from a “hold” rating to a “sell” rating in a research report on Tuesday, November 28th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Carnival currently has a consensus rating of “Buy” and an average target price of $72.78.

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%.

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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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