Carnival Corp (CCL) to Post Q2 2018 Earnings of $0.59 Per Share, William Blair Forecasts

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.

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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 (CCL) opened at $64.41 on Monday. The firm has a market capitalization of $34,406.02, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.06 and a beta of 0.80. The company has a current ratio of 0.18, a quick ratio of 0.14 and a debt-to-equity ratio of 0.29. Carnival has a 12-month low of $57.39 and a 12-month high of $72.70.

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.

Earnings History and Estimates for Carnival (NYSE:CCL)

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