Brokerages Expect Carnival Corp (NYSE:CCL) Will Post Earnings of $0.50 Per Share

Brokerages expect Carnival Corp (NYSE:CCL) to post $0.50 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Carnival’s earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.55. Carnival posted earnings per share of $0.70 during the same quarter last year, which would indicate a negative year-over-year growth rate of 28.6%. The business is expected to issue its next quarterly earnings results on Thursday, December 19th.

According to Zacks, analysts expect that Carnival will report full year earnings of $4.27 per share for the current financial year, with EPS estimates ranging from $4.24 to $4.33. For the next fiscal year, analysts expect that the business will post earnings of $4.41 per share, with EPS estimates ranging from $4.20 to $4.70. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Carnival.

Carnival (NYSE:CCL) last announced its quarterly earnings data on Thursday, September 26th. The company reported $2.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.53 by $0.10. Carnival had a return on equity of 12.67% and a net margin of 14.93%. The firm had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.18 billion.

A number of research analysts recently weighed in on the company. Morgan Stanley dropped their price objective on Carnival from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Stifel Nicolaus dropped their price objective on Carnival from $62.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, September 27th. William Blair reaffirmed a “hold” rating on shares of Carnival in a report on Thursday, September 26th. Citigroup dropped their price objective on Carnival from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, Deutsche Bank set a $46.00 target price on Carnival and gave the company a “hold” rating in a report on Friday, September 27th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. Carnival has a consensus rating of “Hold” and a consensus price target of $50.36.

In other news, Director Sir Jonathon Band sold 5,000 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $40.83, for a total value of $204,150.00. The sale was disclosed in a filing with the SEC, which is available through this link. 24.10% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the company. Security National Bank of SO Dak lifted its position in Carnival by 1.9% during the second quarter. Security National Bank of SO Dak now owns 12,365 shares of the company’s stock worth $576,000 after buying an additional 228 shares during the period. Liberty Wealth Management LLC lifted its position in Carnival by 14.2% during the third quarter. Liberty Wealth Management LLC now owns 1,863 shares of the company’s stock worth $81,000 after buying an additional 232 shares during the period. Hartford Investment Management Co. lifted its position in Carnival by 0.4% during the second quarter. Hartford Investment Management Co. now owns 57,756 shares of the company’s stock worth $2,689,000 after buying an additional 237 shares during the period. Cubic Asset Management LLC lifted its position in Carnival by 0.4% during the second quarter. Cubic Asset Management LLC now owns 63,764 shares of the company’s stock worth $2,968,000 after buying an additional 249 shares during the period. Finally, Holistic Financial Partners lifted its position in Carnival by 6.3% during the second quarter. Holistic Financial Partners now owns 4,588 shares of the company’s stock worth $214,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

CCL stock traded down $0.15 on Monday, reaching $43.02. 3,298,191 shares of the company’s stock were exchanged, compared to its average volume of 4,090,047. The stock has a fifty day moving average of $43.20 and a 200-day moving average of $46.90. Carnival has a twelve month low of $39.92 and a twelve month high of $62.52. The firm has a market cap of $23.64 billion, a PE ratio of 10.10, a P/E/G ratio of 1.05 and a beta of 1.11. The company has a quick ratio of 0.25, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.65%. The ex-dividend date is Thursday, November 21st. Carnival’s dividend payout ratio (DPR) is 46.95%.

Carnival Company Profile

Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.

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Earnings History and Estimates for Carnival (NYSE:CCL)

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