Carnival (CCL) Releases Q2 Earnings Guidance

Carnival (NYSE:CCL) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.56-0.60 for the period, compared to the Thomson Reuters consensus estimate of $0.53. Carnival also updated its FY18 guidance to $4.20-4.40 EPS.

A number of analysts recently commented on CCL shares. Deutsche Bank set a $71.00 price target on Carnival and gave the stock a hold rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on Carnival from $75.00 to $77.00 and gave the company a neutral rating in a research note on Friday. Barclays upgraded Carnival from an equal weight rating to an overweight rating and set a $77.00 price target for the company in a research report on Friday. Stifel Nicolaus lifted their price target on Carnival from $80.00 to $81.00 and gave the company a buy rating in a research report on Monday, March 19th. Finally, Credit Suisse Group set a $80.00 price target on Carnival and gave the company a buy rating in a research report on Sunday, February 25th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $74.33.

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CCL stock opened at $64.41 on Friday. Carnival has a 52-week low of $57.39 and a 52-week high of $72.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.14 and a current ratio of 0.18. The company has a market capitalization of $35,362.16, a PE ratio of 17.65, a P/E/G ratio of 1.09 and a beta of 0.80.

Carnival (NYSE:CCL) last posted its earnings results on Thursday, March 22nd. The company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.09. Carnival had a return on equity of 12.04% and a net margin of 14.73%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. equities research analysts predict that Carnival will post 4.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, February 23rd were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.79%. The ex-dividend date was Thursday, February 22nd. Carnival’s payout ratio is 21.92%.

In other news, General Counsel Arnaldo Perez sold 15,166 shares of the company’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total value of $1,009,903.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stein Kruse sold 60,665 shares of the company’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total value of $4,039,682.35. The disclosure for this sale can be found here. Insiders sold a total of 333,364 shares of company stock valued at $22,422,561 over the last quarter. Company insiders own 23.80% of the company’s stock.

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About Carnival

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.

Earnings History and Estimates for Carnival (NYSE:CCL)

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