Carnival Corporation (NYSE:CCL) – Equities research analysts at Wedbush upped their Q4 2017 earnings estimates for shares of Carnival Corporation in a research report issued to clients and investors on Tuesday. Wedbush analyst J. Hardiman now anticipates that the company will post earnings of $0.67 per share for the quarter, up from their prior forecast of $0.66. Wedbush has a “Neutral” rating and a $66.00 price target on the stock. Wedbush also issued estimates for Carnival Corporation’s FY2018 earnings at $4.34 EPS.
Carnival Corporation (NYSE:CCL) last posted its quarterly earnings results on Thursday, June 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $0.49 earnings per share. COPYRIGHT VIOLATION WARNING: This news story was originally published by Ticker Report and is owned by of Ticker Report. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.tickerreport.com/banking-finance/2888440/carnival-corporation-to-post-q4-2017-earnings-of-0-67-per-share-wedbush-forecasts-ccl.html.
Several other research analysts have also recently issued reports on CCL. Wolfe Research upgraded shares of Carnival Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, May 25th. ValuEngine upgraded shares of Carnival Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Credit Suisse Group restated an “outperform” rating and issued a $74.00 target price (up previously from $69.00) on shares of Carnival Corporation in a report on Saturday, June 3rd. William Blair restated an “outperform” rating on shares of Carnival Corporation in a report on Friday, June 9th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $68.00 target price on shares of Carnival Corporation in a report on Friday, June 16th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $63.27.
Carnival Corporation (CCL) opened at 68.18 on Wednesday. Carnival Corporation has a one year low of $45.02 and a one year high of $69.89. The company’s 50 day moving average is $67.65 and its 200 day moving average is $63.12. The stock has a market cap of $49.36 billion, a PE ratio of 18.03 and a beta of 0.74.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. Carnival Corporation’s payout ratio is currently 42.55%.
In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the completion of the transaction, the insider now owns 150,860 shares in the company, valued at approximately $10,110,637.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in CCL. Pathstone Family Office LLC increased its holdings in shares of Carnival Corporation by 200.0% in the 2nd quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock valued at $2,493,000 after purchasing an additional 38 shares in the last quarter. YorkBridge Wealth Partners LLC increased its holdings in shares of Carnival Corporation by 1.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after purchasing an additional 40 shares in the last quarter. Cleararc Capital Inc. increased its holdings in shares of Carnival Corporation by 0.6% in the 1st quarter. Cleararc Capital Inc. now owns 10,237 shares of the company’s stock valued at $603,000 after purchasing an additional 63 shares in the last quarter. Security National Bank of Sioux City Iowa IA increased its holdings in shares of Carnival Corporation by 0.5% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 13,390 shares of the company’s stock valued at $878,000 after purchasing an additional 65 shares in the last quarter. Finally, Scotia Capital Inc. increased its holdings in shares of Carnival Corporation by 0.4% in the 2nd quarter. Scotia Capital Inc. now owns 16,604 shares of the company’s stock valued at $1,089,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.
Carnival Corporation 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.
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