Carnival Corp (NYSE:CCL) – William Blair lifted their Q2 2018 earnings per share estimates for shares of Carnival in a report released on Thursday. William Blair analyst S. Zackfia now forecasts that the company will earn $0.59 per share for the quarter, up from their previous estimate of $0.57. William Blair also issued estimates for Carnival’s Q3 2018 earnings at $2.43 EPS, Q4 2018 earnings at $0.76 EPS, FY2018 earnings at $4.30 EPS and FY2019 earnings at $4.84 EPS.
A number of other brokerages have also recently issued reports on CCL. JPMorgan Chase & Co. boosted their price objective on Carnival from $75.00 to $77.00 and gave the stock a “neutral” rating in a report on Friday. Deutsche Bank boosted their price target on Carnival from $70.00 to $71.00 and gave the company a “hold” 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 note on Friday. Morgan Stanley boosted their price target on Carnival from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus boosted their price target on Carnival from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, March 19th. Seven equities research 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 stock. The company has an average rating of “Buy” and a consensus target price of $74.33.
Carnival (NYSE:CCL) last released its earnings results on Thursday, March 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.11 billion. Carnival had a return on equity of 12.04% and a net margin of 14.73%. Carnival’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 earnings per share.
Several large investors have recently made changes to their positions in CCL. SeaCrest Wealth Management LLC acquired a new position in shares of Carnival during the fourth quarter worth $123,000. Grove Bank & Trust increased its holdings in shares of Carnival by 367.8% during the third quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock worth $131,000 after buying an additional 1,600 shares in the last quarter. Focused Wealth Management Inc acquired a new position in shares of Carnival during the fourth quarter worth $133,000. Avestar Capital LLC acquired a new position in shares of Carnival during the fourth quarter worth $148,000. Finally, Delpha Capital Management LLC acquired a new position in shares of Carnival during the fourth quarter worth $173,000. Institutional investors own 76.72% of the company’s stock.
In other news, CEO Arnold W. Donald sold 5,000 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $66.41, for a total transaction of $332,050.00. Following the completion of the transaction, the chief executive officer now directly owns 132,376 shares in the company, valued at $8,791,090.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stein Kruse sold 60,665 shares of the company’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total transaction of $4,039,682.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 333,364 shares of company stock valued at $22,422,561. Company insiders own 23.80% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, February 23rd were given a dividend of $0.45 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.80 annualized dividend and a yield of 2.79%. Carnival’s dividend payout ratio is currently 21.92%.
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Carnival 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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