Carnival (NYSE:CCL) Announces Earnings Results

Carnival (NYSE:CCL) released its earnings results on Friday. The company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.11, reports. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.56 billion. Carnival had a net margin of 14.93% and a return on equity of 12.67%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $0.70 EPS.

Shares of NYSE CCL traded up $4.15 during trading on Friday, reaching $50.80. The company had a trading volume of 611,281 shares, compared to its average volume of 4,074,145. Carnival has a twelve month low of $39.92 and a twelve month high of $59.24. The stock has a market capitalization of $25.01 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.07 and a beta of 1.10. The stock has a 50-day moving average price of $44.83 and a two-hundred day moving average price of $45.82. The company has a current ratio of 0.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.35.

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.94%. The ex-dividend date was Thursday, November 21st. Carnival’s payout ratio is 46.95%.

A number of equities research analysts recently commented on CCL shares. Wedbush reduced their price objective on shares of Carnival from $50.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. SunTrust Banks lowered shares of Carnival from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. TheStreet cut shares of Carnival from a “b-” rating to a “c+” rating in a report on Friday, October 11th. Deutsche Bank set a $46.00 price target on shares of Carnival and gave the company a “hold” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Co decreased their price target on Carnival from $59.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $48.45.

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 owned by corporate insiders.

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 for Carnival (NYSE:CCL)

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