Carnival Corporation (NYSE:CCL) – William Blair raised their Q1 2018 earnings estimates for shares of Carnival in a report issued on Tuesday. William Blair analyst S. Zackfia now forecasts that the company will earn $0.41 per share for the quarter, up from their prior estimate of $0.38. William Blair also issued estimates for Carnival’s Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $4.30 EPS and FY2019 earnings at $4.78 EPS.
A number of other equities research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Carnival from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a report on Tuesday, September 5th. Credit Suisse Group downgraded shares of Carnival from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $78.00 to $70.00 in a report on Friday, September 15th. Morgan Stanley upgraded shares of Carnival from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $65.94 to $68.00 in a report on Wednesday, December 6th. Finally, Deutsche Bank restated a “hold” rating and issued a $61.00 target price (down from $62.00) on shares of Carnival in a report on Wednesday, September 27th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Carnival currently has an average rating of “Buy” and an average price target of $72.89.
Carnival (NYSE:CCL) last issued its quarterly earnings results on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 24th were paid a dividend of $0.45 per share. This is an increase from Carnival’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Wednesday, November 22nd. Carnival’s payout ratio is currently 44.57%.
In other Carnival news, CEO Arnold W. Donald sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $65.43, for a total transaction of $327,150.00. Following the completion of the sale, the chief executive officer now directly owns 115,572 shares in the company, valued at $7,561,875.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arnold W. Donald sold 90,903 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $67.41, for a total transaction of $6,127,771.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,903 shares of company stock valued at $7,190,771. 23.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CCL. Alliancebernstein L.P. lifted its position in shares of Carnival by 316.9% during the second quarter. Alliancebernstein L.P. now owns 4,236,266 shares of the company’s stock worth $277,772,000 after purchasing an additional 3,220,191 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Carnival by 115.5% during the second quarter. Janus Henderson Group PLC now owns 3,088,143 shares of the company’s stock worth $202,505,000 after purchasing an additional 1,655,345 shares in the last quarter. Numeric Investors LLC lifted its position in shares of Carnival by 160.4% during the second quarter. Numeric Investors LLC now owns 2,416,066 shares of the company’s stock worth $158,421,000 after purchasing an additional 1,488,366 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Carnival by 4,220.0% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,496,929 shares of the company’s stock worth $98,154,000 after purchasing an additional 1,462,278 shares in the last quarter. Finally, Capital Growth Management LP acquired a new position in shares of Carnival during the third quarter worth $65,539,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.
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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