$4.10 Billion in Sales Expected for Carnival Corp (CCL) This Quarter

Equities analysts expect Carnival Corp (NYSE:CCL) to report sales of $4.10 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Carnival’s earnings, with the highest sales estimate coming in at $4.16 billion and the lowest estimate coming in at $4.07 billion. Carnival reported sales of $3.79 billion in the same quarter last year, which would suggest a positive year over year growth rate of 8.2%. The company is expected to report its next earnings report on Tuesday, March 27th.

On average, analysts expect that Carnival will report full-year sales of $4.10 billion for the current year, with estimates ranging from $18.52 billion to $19.06 billion. For the next fiscal year, analysts expect that the firm will report sales of $20.13 billion per share, with estimates ranging from $19.76 billion to $20.74 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Carnival.

Carnival (NYSE:CCL) last released its quarterly earnings results 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 analyst estimates of $4.15 billion. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 earnings per share.

A number of equities analysts have weighed in on CCL shares. Zacks Investment Research downgraded shares of Carnival from a “hold” rating to a “sell” rating in a research note on Tuesday, November 28th. Morgan Stanley raised shares of Carnival from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $65.94 to $68.00 in a research note on Wednesday, December 6th. Credit Suisse Group set a $72.00 target price on shares of Carnival and gave the stock a “hold” rating in a research note on Tuesday, December 12th. SunTrust Banks reaffirmed a “buy” rating and issued a $84.00 target price (up from $72.00) on shares of Carnival in a research note on Tuesday, December 19th. They noted that the move was a valuation call. Finally, Stifel Nicolaus boosted their target price on shares of Carnival from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $73.45.

In related news, CFO David Bernstein sold 51,454 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $66.76, for a total transaction of $3,435,069.04. Following the completion of the sale, the chief financial officer now directly owns 67,371 shares of the company’s stock, valued at $4,497,687.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stein Kruse sold 60,665 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total transaction of $4,039,682.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 313,627 shares of company stock valued at $21,059,647. 23.80% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of CCL. FMR LLC increased its stake in Carnival by 125.7% in 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. Shelton Capital Management bought a new stake in Carnival in the second quarter valued at approximately $385,000. Nomura Holdings Inc. bought a new stake in Carnival in the second quarter valued at approximately $2,083,000. Scotia Capital Inc. increased its stake in Carnival by 0.4% in the second quarter. Scotia Capital Inc. now owns 16,604 shares of the company’s stock valued at $1,089,000 after purchasing an additional 71 shares in the last quarter. Finally, Stellar Capital Management LLC increased its stake in Carnival by 0.8% in the second quarter. Stellar Capital Management LLC now owns 33,150 shares of the company’s stock valued at $2,174,000 after purchasing an additional 265 shares in the last quarter. 75.65% of the stock is owned by hedge funds and other institutional investors.

Carnival (NYSE CCL) opened at $69.12 on Thursday. Carnival has a 12 month low of $54.75 and a 12 month high of $72.70. The firm has a market cap of $49,140.00, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.15 and a beta of 0.75. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 23rd will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, February 22nd. Carnival’s dividend payout ratio (DPR) is 32.03%.

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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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