Wall Street brokerages expect Carnival Corporation (NYSE:CCL) to post sales of $4.16 billion for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Carnival Corporation’s earnings, with estimates ranging from $4.14 billion to $4.23 billion. Carnival Corporation reported sales of $3.94 billion in the same quarter last year, which indicates a positive year over year growth rate of 5.6%. The company is expected to issue its next earnings report on Tuesday, December 19th.
According to Zacks, analysts expect that Carnival Corporation will report full year sales of $4.16 billion for the current year, with estimates ranging from $17.39 billion to $17.48 billion. For the next fiscal year, analysts forecast that the firm will report sales of $18.40 billion per share, with estimates ranging from $18.11 billion to $18.70 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Carnival Corporation.
Carnival Corporation (NYSE:CCL) last released its earnings results on Tuesday, September 26th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.09. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Carnival Corporation had a return on equity of 12.15% and a net margin of 15.53%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.92 earnings per share.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Carnival Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Carnival Corporation in a research note on Tuesday, August 15th. Susquehanna Bancshares Inc increased their price objective on Carnival Corporation from $75.00 to $76.00 and gave the stock a “positive” rating in a research note on Monday, September 25th. Credit Suisse Group reissued a “neutral” rating on shares of Carnival Corporation in a research note on Thursday, September 28th. Finally, Instinet reissued a “buy” rating and issued a $75.00 price objective on shares of Carnival Corporation in a research note on Monday, October 2nd. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $67.43.
In other Carnival Corporation news, CEO Arnold W. Donald sold 5,000 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $65.43, for a total transaction of $327,150.00. Following the sale, the chief executive officer now directly owns 115,572 shares of the company’s stock, valued at approximately $7,561,875.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.80% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Pathstone Family Office LLC grew its position in Carnival Corporation by 200.0% during the 2nd quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock worth $2,493,000 after purchasing an additional 38 shares during the period. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Carnival Corporation during the 2nd quarter valued at about $289,000. Almanack Investment Partners LLC. acquired a new stake in shares of Carnival Corporation during the 2nd quarter valued at about $117,000. Grove Bank & Trust boosted its holdings in Carnival Corporation by 367.8% in the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock worth $131,000 after buying an additional 1,600 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Carnival Corporation by 109.4% in the 2nd quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock worth $171,000 after buying an additional 1,368 shares during the last quarter. 77.54% of the stock is currently owned by institutional investors.
Carnival Corporation (NYSE CCL) traded up $1.32 on Tuesday, hitting $65.98. The stock had a trading volume of 2,554,500 shares, compared to its average volume of 3,195,963. The company has a market capitalization of $34,647.16, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.32 and a beta of 0.75. Carnival Corporation has a 1 year low of $49.50 and a 1 year high of $69.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.16 and a current ratio of 0.21.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be given a dividend of $0.45 per share. This is an increase from Carnival Corporation’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.73%. The ex-dividend date is Wednesday, November 22nd. Carnival Corporation’s dividend payout ratio (DPR) is currently 43.72%.
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About Carnival Corporation
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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