Carnival Corporation (NYSE:CCL) – Equities research analysts at SunTrust Banks increased their Q3 2018 earnings per share (EPS) estimates for Carnival in a research note issued on Tuesday, Zacks Investment Research reports. SunTrust Banks analyst P. Scholes now forecasts that the company will post earnings of $2.63 per share for the quarter, up from their previous estimate of $2.52. SunTrust Banks has a “Buy” rating and a $84.00 price objective on the stock. SunTrust Banks also issued estimates for Carnival’s Q4 2019 earnings at $0.97 EPS and FY2019 earnings at $4.94 EPS.
Carnival (NYSE:CCL) last issued its quarterly earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.12. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 EPS.
A number of other research analysts also recently commented on the company. Barclays upped their price objective on Carnival from $67.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 21st. Morgan Stanley upgraded Carnival from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $65.94 to $68.00 in a research note on Wednesday, December 6th. Zacks Investment Research downgraded Carnival from a “hold” rating to a “sell” rating in a research note on Tuesday, November 28th. Credit Suisse Group set a $72.00 price objective on Carnival and gave the stock a “hold” rating in a research note on Tuesday, December 12th. Finally, Tigress Financial reissued a “buy” rating on shares of Carnival in a research note on Friday, December 22nd. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Carnival presently has a consensus rating of “Buy” and a consensus target price of $72.78.
Carnival (NYSE CCL) opened at $69.69 on Thursday. The company has a market capitalization of $49,900.00, a price-to-earnings ratio of 19.41, a P/E/G ratio of 1.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.14 and a current ratio of 0.18. Carnival has a 52 week low of $52.65 and a 52 week high of $69.89.
Several hedge funds and other institutional investors have recently made changes to their positions in CCL. Alliancebernstein L.P. lifted its holdings in shares of Carnival by 316.9% during the second quarter. Alliancebernstein L.P. now owns 4,236,266 shares of the company’s stock valued at $277,772,000 after purchasing an additional 3,220,191 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Carnival by 115.5% during the second quarter. Janus Henderson Group PLC now owns 3,088,143 shares of the company’s stock valued at $202,505,000 after purchasing an additional 1,655,345 shares during the last quarter. Numeric Investors LLC lifted its holdings in shares of Carnival by 160.4% during the second quarter. Numeric Investors LLC now owns 2,416,066 shares of the company’s stock valued at $158,421,000 after purchasing an additional 1,488,366 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Carnival by 4,220.0% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,496,929 shares of the company’s stock valued at $98,154,000 after buying an additional 1,462,278 shares during the period. Finally, Capital Growth Management LP acquired a new position in Carnival during the third quarter valued at $65,539,000. 75.91% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Arnold W. Donald sold 5,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $65.57, for a total transaction of $327,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Arnold W. Donald sold 3,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $68.00, for a total value of $204,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 354,545 shares of company stock valued at $23,694,789. Insiders own 23.80% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 24th were issued a $0.45 dividend. This is a positive change from Carnival’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, November 22nd. This represents a $1.80 annualized dividend and a dividend yield of 2.58%. Carnival’s dividend payout ratio is 44.57%.
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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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