Carnival Corp (NYSE:CCL) – Analysts at Wedbush dropped their Q2 2017 earnings estimates for Carnival Corp in a report issued on Wednesday. Wedbush analyst J. Hardiman now expects that the brokerage will post earnings of $0.46 per share for the quarter, down from their previous forecast of $0.47. Wedbush has a “Neutral” rating and a $61.00 price target on the stock. Wedbush also issued estimates for Carnival Corp’s Q3 2017 earnings at $2.13 EPS, Q4 2017 earnings at $0.69 EPS, FY2017 earnings at $3.68 EPS and FY2018 earnings at $4.18 EPS.
Carnival Corp (NYSE:CCL) last posted its earnings results on Tuesday, March 28th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. The firm earned $3.79 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Carnival Corp had a return on equity of 11.35% and a net margin of 16.96%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share.
A number of other equities analysts also recently commented on CCL. Instinet raised their price objective on Carnival Corp from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays PLC raised their price objective on Carnival Corp from $56.00 to $63.00 and gave the stock an “equal weight” rating in a report on Wednesday. Stifel Nicolaus raised their price objective on Carnival Corp from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday. William Blair restated a “market perform” rating and issued a $52.15 price objective on shares of Carnival Corp in a report on Wednesday, December 14th. Finally, Argus upgraded Carnival Corp from a “hold” rating to a “buy” rating and raised their price objective for the stock from $56.03 to $64.00 in a report on Monday, February 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $57.21.
Shares of Carnival Corp (NYSE:CCL) opened at 58.91 on Thursday. The stock has a market cap of $42.77 billion, a PE ratio of 15.84 and a beta of 0.73. The company’s 50-day moving average price is $56.98 and its 200 day moving average price is $52.36. Carnival Corp has a 1-year low of $42.94 and a 1-year high of $59.27.
A number of large investors have recently modified their holdings of CCL. Cullen Frost Bankers Inc. raised its position in shares of Carnival Corp by 0.8% in the third quarter. Cullen Frost Bankers Inc. now owns 453,417 shares of the company’s stock valued at $22,136,000 after buying an additional 3,727 shares during the last quarter. Asset Advisors Corp raised its position in shares of Carnival Corp by 0.6% in the third quarter. Asset Advisors Corp now owns 179,767 shares of the company’s stock valued at $8,776,000 after buying an additional 1,042 shares during the last quarter. 1st Global Advisors Inc. raised its position in shares of Carnival Corp by 2.6% in the third quarter. 1st Global Advisors Inc. now owns 14,640 shares of the company’s stock valued at $715,000 after buying an additional 374 shares during the last quarter. A. D. Beadell Investment Counsel Inc. raised its position in shares of Carnival Corp by 25.5% in the third quarter. A. D. Beadell Investment Counsel Inc. now owns 39,155 shares of the company’s stock valued at $1,911,000 after buying an additional 7,960 shares during the last quarter. Finally, Deltec Asset Management LLC raised its position in shares of Carnival Corp by 46.9% in the third quarter. Deltec Asset Management LLC now owns 72,000 shares of the company’s stock valued at $3,515,000 after buying an additional 23,000 shares during the last quarter. Hedge funds and other institutional investors own 79.45% of the company’s stock.
In other Carnival Corp news, insider Alan Buckelew sold 9,273 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $52.95, for a total transaction of $491,005.35. Following the completion of the sale, the insider now owns 195,128 shares in the company, valued at approximately $10,332,027.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sir Jonathon Band sold 6,276 shares of the firm’s stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $53.48, for a total value of $335,640.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,468 shares of company stock valued at $9,055,633. 22.00% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Friday, February 24th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 2.38%. Carnival Corp’s dividend payout ratio (DPR) is presently 37.43%.
Carnival Corp 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.