Carnival (CCL) Announces Quarterly Earnings Results

Carnival (NYSE:CCL) posted its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.12, Bloomberg Earnings reports. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the company earned $0.67 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. Carnival updated its Q1 guidance to $0.37-0.41 EPS and its FY18 guidance to $4.00-4.30 EPS.

Carnival (CCL) traded up $0.86 on Thursday, hitting $68.80. The company had a trading volume of 2,630,000 shares, compared to its average volume of 3,170,000. The company has a current ratio of 0.18, a quick ratio of 0.14 and a debt-to-equity ratio of 0.29. Carnival has a fifty-two week low of $52.65 and a fifty-two week high of $69.89. The firm has a market capitalization of $49,470.00, a price-to-earnings ratio of 19.16, a P/E/G ratio of 1.18 and a beta of 0.73.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, November 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.62%. This is a positive change from Carnival’s previous quarterly dividend of $0.40. Carnival’s dividend payout ratio (DPR) is presently 44.57%.

In other Carnival news, General Counsel Arnaldo Perez sold 15,166 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total value of $1,009,903.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stein Kruse sold 60,665 shares of the firm’s stock in a transaction dated Thursday, December 27th. The stock was 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 three months, insiders sold 354,545 shares of company stock worth $23,694,789. 23.80% of the stock is owned by corporate insiders.

Several research firms have recently commented on CCL. Credit Suisse Group upgraded Carnival from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $66.05 to $70.00 in a research note on Tuesday. Zacks Investment Research cut Carnival from a “hold” rating to a “sell” rating in a research report on Tuesday, November 28th. Deutsche Bank reiterated a “hold” rating and issued a $61.00 price objective (down previously from $62.00) on shares of Carnival in a research report on Wednesday, September 27th. Stifel Nicolaus increased their price objective on Carnival from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $84.00 price objective (up previously from $72.00) on shares of Carnival in a research report on Tuesday, December 19th. They noted that the move was a valuation call. 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 stock. The company has a consensus rating of “Buy” and a consensus price target of $72.78.

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About Carnival

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.

Earnings History for Carnival (NYSE:CCL)

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