Analysts Anticipate Carnival Cruise Line (CCL) Will Post Quarterly Sales of $4.33 Billion

Analysts forecast that Carnival Cruise Line (NYSE:CCL) will report sales of $4.33 billion for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Carnival Cruise Line’s earnings. The lowest sales estimate is $4.31 billion and the highest is $4.35 billion. Carnival Cruise Line reported sales of $3.95 billion in the same quarter last year, which indicates a positive year over year growth rate of 9.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, June 28th.

On average, analysts expect that Carnival Cruise Line will report full-year sales of $19.02 billion for the current financial year, with estimates ranging from $18.96 billion to $19.09 billion. For the next fiscal year, analysts expect that the company will report sales of $20.42 billion per share, with estimates ranging from $19.87 billion to $20.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Carnival Cruise Line.

Carnival Cruise Line (NYSE:CCL) last posted its quarterly earnings data on Thursday, March 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.11 billion. Carnival Cruise Line had a return on equity of 11.97% and a net margin of 14.73%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 earnings per share.

A number of research firms have issued reports on CCL. Credit Suisse Group set a $84.00 price objective on Carnival Cruise Line and gave the stock a “buy” rating in a report on Wednesday, April 11th. Deutsche Bank increased their price objective on Carnival Cruise Line from $70.00 to $71.00 and gave the stock a “hold” rating in a report on Friday, March 23rd. JPMorgan Chase increased their target price on Carnival Cruise Line from $75.00 to $77.00 and gave the stock a “neutral” rating in a research note on Friday, March 23rd. Barclays raised Carnival Cruise Line from an “equal weight” rating to an “overweight” rating and set a $77.00 target price on the stock in a research note on Friday, March 23rd. Finally, Stifel Nicolaus increased their target price on Carnival Cruise Line from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, March 19th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Carnival Cruise Line has a consensus rating of “Buy” and a consensus target price of $74.54.

CCL traded up $0.82 during trading on Tuesday, reaching $65.88. The stock had a trading volume of 3,845,044 shares, compared to its average volume of 3,930,682. The company has a current ratio of 0.19, a quick ratio of 0.14 and a debt-to-equity ratio of 0.31. The company has a market cap of $35,191.25, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 1.04 and a beta of 0.84. Carnival Cruise Line has a one year low of $58.81 and a one year high of $72.70.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 25th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 24th. This is a boost from Carnival Cruise Line’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 3.04%. Carnival Cruise Line’s dividend payout ratio (DPR) is 20.94%.

In related news, Director Richard Glasier sold 4,234 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $68.23, for a total transaction of $288,885.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Arnaldo Perez sold 8,567 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $68.73, for a total value of $588,809.91. Following the sale, the general counsel now directly owns 32,365 shares in the company, valued at $2,224,446.45. The disclosure for this sale can be found here. Insiders have sold 54,971 shares of company stock worth $3,731,450 over the last ninety days. 23.80% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Carnival Cruise Line by 8.8% in the fourth quarter. BlackRock Inc. now owns 29,804,490 shares of the company’s stock worth $1,978,124,000 after purchasing an additional 2,421,339 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Carnival Cruise Line in the fourth quarter worth about $101,712,000. Deutsche Bank AG boosted its position in Carnival Cruise Line by 95.2% in the fourth quarter. Deutsche Bank AG now owns 1,846,447 shares of the company’s stock worth $122,543,000 after purchasing an additional 900,472 shares during the last quarter. Two Sigma Advisers LP boosted its position in Carnival Cruise Line by 48.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,569,310 shares of the company’s stock worth $170,525,000 after purchasing an additional 841,421 shares during the last quarter. Finally, Gotham Asset Management LLC purchased a new position in Carnival Cruise Line in the fourth quarter worth about $30,701,000. 76.74% of the stock is currently owned by institutional investors.

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About Carnival Cruise Line

Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.

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Earnings History and Estimates for Carnival Cruise Line (NYSE:CCL)

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