Carnival Corp (CCL) Forecasted to Earn Q2 2018 Earnings of $0.59 Per Share

Carnival Corp (NYSE:CCL) – Equities researchers at Wedbush lifted their Q2 2018 EPS estimates for Carnival in a research report issued on Thursday. Wedbush analyst J. Hardiman now expects that the company will post earnings of $0.59 per share for the quarter, up from their prior forecast of $0.54. Wedbush also issued estimates for Carnival’s Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $4.45 EPS and FY2019 earnings at $5.10 EPS.

Several other analysts also recently issued reports on the company. Deutsche Bank lifted their target price on Carnival from $70.00 to $71.00 and gave the company a “hold” rating in a research note on Friday. JPMorgan Chase & Co. lifted 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 raised Carnival from an “equal weight” rating to an “overweight” rating and set a $77.00 target price on the stock in a research note on Friday. Stifel Nicolaus lifted their target price on Carnival from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, March 19th. Finally, Credit Suisse Group set a $80.00 target price on Carnival and gave the company a “buy” rating in a research note on Sunday, February 25th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $74.33.

Shares of Carnival (NYSE CCL) opened at $65.80 on Monday. The stock has a market capitalization of $34,405.99, a P/E ratio of 18.03, a P/E/G ratio of 1.05 and a beta of 0.80. Carnival has a 12 month low of $57.39 and a 12 month high of $72.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.14 and a current ratio of 0.19.

Carnival (NYSE:CCL) last issued its earnings results on Thursday, March 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. The company 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 11.97% and a net margin of 14.73%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS.

Several institutional investors have recently made changes to their positions in CCL. SeaCrest Wealth Management LLC purchased a new position in shares of Carnival in the 4th quarter worth approximately $123,000. Grove Bank & Trust boosted its holdings in shares of Carnival by 367.8% in the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock worth $131,000 after purchasing an additional 1,600 shares during the period. Focused Wealth Management Inc purchased a new position in shares of Carnival in the 4th quarter worth approximately $133,000. Avestar Capital LLC purchased a new position in shares of Carnival in the 4th quarter worth approximately $148,000. Finally, Delpha Capital Management LLC purchased a new position in shares of Carnival in the 4th quarter worth approximately $173,000. Hedge funds and other institutional investors own 76.73% of the company’s stock.

In other news, CEO Arnold W. Donald sold 5,000 shares of Carnival stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $66.41, for a total value of $332,050.00. Following the completion of the transaction, the chief executive officer now owns 132,376 shares in the company, valued at approximately $8,791,090.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arnold W. Donald sold 3,000 shares of Carnival stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $68.00, for a total value of $204,000.00. Following the completion of the transaction, the chief executive officer now owns 132,376 shares of the company’s stock, valued at approximately $9,001,568. The disclosure for this sale can be found here. In the last quarter, insiders sold 333,364 shares of company stock valued at $22,422,561. Company insiders own 23.80% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, February 23rd were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Thursday, February 22nd. Carnival’s dividend payout ratio (DPR) is 21.92%.

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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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