Carnival (CCL) Updates Q1 Earnings Guidance

Carnival (NYSE:CCL) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.37-0.41 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.47. Carnival also updated its FY18 guidance to $4.00-4.30 EPS.

A number of brokerages recently commented on CCL. Zacks Investment Research upgraded shares of Carnival from a hold rating to a buy rating and set a $77.00 target price on the stock in a research report on Tuesday, September 5th. Credit Suisse Group cut shares of Carnival from an outperform rating to a neutral rating and decreased their target price for the stock from $78.00 to $70.00 in a research report on Friday, September 15th. Finally, Morgan Stanley upgraded shares of Carnival from an underweight rating to an equal weight rating and lifted their target price for the stock from $65.94 to $68.00 in a research report on Wednesday, December 6th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $68.83.

Shares of Carnival (NYSE:CCL) traded up $0.65 on Tuesday, hitting $66.60. 4,916,900 shares of the stock were exchanged, compared to its average volume of 3,165,674. The company has a market cap of $35,338.38, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 1.18 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.21 and a quick ratio of 0.16. Carnival has a 52-week low of $50.77 and a 52-week high of $69.89.

Carnival (NYSE:CCL) last announced its earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. The firm had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.15 billion. Carnival had a net margin of 15.53% and a return on equity of 12.15%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 EPS. sell-side analysts expect that Carnival will post 3.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, November 22nd. This represents a $1.80 annualized dividend and a yield of 2.70%. This is a positive change from Carnival’s previous quarterly dividend of $0.40. Carnival’s payout ratio is presently 43.72%.

In related news, CEO Arnold W. Donald sold 90,903 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $67.41, for a total transaction of $6,127,771.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arnold W. Donald sold 5,000 shares of the business’s 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 in the company, valued at approximately $7,561,875.96. The disclosure for this sale can be found here. Insiders have sold 100,903 shares of company stock worth $6,782,771 in the last three months. 23.80% of the stock is currently owned by insiders.

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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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