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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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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