Carnival Corp (NYSE:CCL) – Investment analysts at William Blair boosted their Q2 2019 earnings per share estimates for shares of Carnival in a report released on Monday, June 10th. William Blair analyst S. Zackfia now expects that the company will post earnings per share of $0.59 for the quarter, up from their prior estimate of $0.57. William Blair also issued estimates for Carnival’s Q3 2019 earnings at $2.69 EPS, Q4 2019 earnings at $0.76 EPS, FY2019 earnings at $4.53 EPS and FY2020 earnings at $5.16 EPS.
Other research analysts also recently issued research reports about the stock. Nomura reduced their price target on shares of Carnival from $66.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Buckingham Research lowered their target price on Carnival from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Goldman Sachs Group raised Carnival from a “neutral” rating to a “buy” rating and increased their target price for the stock from $63.00 to $65.00 in a research note on Wednesday, March 13th. Deutsche Bank reissued a “hold” rating and set a $59.00 target price on shares of Carnival in a research note on Wednesday, March 27th. Finally, Zacks Investment Research raised Carnival from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $66.28.
Shares of NYSE CCL opened at $53.17 on Wednesday. The stock has a market cap of $28.28 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.10 and a beta of 1.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.22. Carnival has a 12-month low of $45.64 and a 12-month high of $67.69.
Carnival (NYSE:CCL) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The business had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.31 billion. Carnival had a net margin of 16.03% and a return on equity of 12.30%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS.
A number of large investors have recently added to or reduced their stakes in the business. FTB Advisors Inc. increased its stake in shares of Carnival by 18.0% in the 4th quarter. FTB Advisors Inc. now owns 3,481 shares of the company’s stock valued at $171,000 after acquiring an additional 532 shares during the last quarter. Legal & General Group Plc increased its stake in Carnival by 8.6% during the 4th quarter. Legal & General Group Plc now owns 2,383,898 shares of the company’s stock worth $117,488,000 after purchasing an additional 188,640 shares in the last quarter. MA Private Wealth bought a new stake in Carnival during the 4th quarter worth approximately $308,000. Mackay Shields LLC increased its stake in Carnival by 51.7% during the 4th quarter. Mackay Shields LLC now owns 198,435 shares of the company’s stock worth $9,783,000 after purchasing an additional 67,630 shares in the last quarter. Finally, Green Square Capital LLC increased its stake in Carnival by 759.8% during the 4th quarter. Green Square Capital LLC now owns 27,539 shares of the company’s stock worth $1,358,000 after purchasing an additional 24,336 shares in the last quarter. 74.98% of the stock is owned by hedge funds and other institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Thursday, May 23rd. Carnival’s dividend payout ratio (DPR) is currently 46.95%.
Carnival Company Profile
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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