Equities analysts expect that Carnival Corporation (NYSE:CCL) will report $4.15 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Carnival’s earnings, with estimates ranging from $4.14 billion to $4.18 billion. Carnival posted sales of $3.94 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The business is scheduled to issue its next earnings results on Tuesday, December 19th.
According to Zacks, analysts expect that Carnival will report full-year sales of $4.15 billion for the current fiscal year, with estimates ranging from $17.39 billion to $17.46 billion. For the next financial year, analysts expect that the firm will report sales of $18.37 billion per share, with estimates ranging from $18.11 billion to $18.67 billion. Zacks’ sales averages are an average based on a survey of 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 Thomson Reuters’ consensus estimate of $0.51 by $0.12. Carnival had a net margin of 15.53% and a return on equity of 12.15%. The business had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. Carnival’s revenue was up 8.2% compared to the same quarter last year.
Several brokerages recently weighed in on CCL. Zacks Investment Research lowered shares of Carnival from a “buy” rating to a “hold” rating in a report on Friday, September 8th. Susquehanna Bancshares increased their price objective on shares of Carnival from $75.00 to $76.00 and gave the company a “positive” rating in a report on Monday, September 25th. Credit Suisse Group restated a “neutral” rating on shares of Carnival in a report on Thursday, September 28th. Instinet restated a “buy” rating and issued a $75.00 price objective on shares of Carnival in a report on Monday, October 2nd. Finally, Nomura restated a “buy” rating and issued a $75.00 price objective on shares of Carnival in a report on Friday, September 29th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Carnival has a consensus rating of “Buy” and a consensus target price of $70.95.
Carnival (NYSE:CCL) opened at $68.13 on Wednesday. Carnival has a twelve month low of $51.38 and a twelve month high of $69.89. The firm has a market cap of $35,686.68, a P/E ratio of 17.25, a P/E/G ratio of 1.19 and a beta of 0.73. The company has a quick ratio of 0.16, a current ratio of 0.21 and a debt-to-equity ratio of 0.32.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 24th were given a dividend of $0.45 per share. This is an increase from Carnival’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $1.80 annualized dividend and a dividend yield of 2.64%. Carnival’s dividend payout ratio is currently 43.72%.
In other news, CEO Arnold W. Donald sold 5,000 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $65.43, for a total transaction of $327,150.00. Following the completion of the sale, the chief executive officer now owns 115,572 shares of the company’s stock, valued at $7,561,875.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 100,903 shares of company stock valued at $6,782,771 in the last three months. 23.80% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of CCL. Almanack Investment Partners LLC. bought a new position in Carnival in the second quarter valued at $117,000. Grove Bank & Trust grew its position in Carnival by 367.8% in the third quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after purchasing an additional 1,600 shares in the last quarter. Bessemer Group Inc. grew its position in Carnival by 109.4% in the second quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after purchasing an additional 1,368 shares in the last quarter. Smithfield Trust Co. grew its position in Carnival by 826.2% in the third quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock valued at $182,000 after purchasing an additional 2,520 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC grew its position in Carnival by 1.4% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after purchasing an additional 40 shares in the last quarter. 75.90% of the stock is owned by institutional investors.
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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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