FY2016 Earnings Forecast for Carnival Corp. Issued By Wedbush (CCL)
Carnival Corp. (NYSE:CCL) – Analysts at Wedbush reduced their FY2016 earnings per share (EPS) estimates for Carnival Corp. in a report released on Tuesday. Wedbush analyst J. Hardiman now forecasts that the firm will earn $3.38 per share for the year, down from their prior forecast of $3.41. Wedbush has a “Neutral” rating and a $54.00 price target on the stock. Wedbush also issued estimates for Carnival Corp.’s Q4 2016 earnings at $0.60 EPS and FY2017 earnings at $3.66 EPS.
Several other research firms also recently weighed in on CCL. Morgan Stanley downgraded shares of Carnival Corp. from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $54.00 to $48.00 in a research note on Friday, September 2nd. Tigress Financial raised shares of Carnival Corp. from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 31st. Wells Fargo & Co. reissued a “buy” rating on shares of Carnival Corp. in a research report on Wednesday. Sterne Agee CRT assumed coverage on shares of Carnival Corp. in a research report on Tuesday, June 7th. They set a “buy” rating and a $60.00 target price for the company. Finally, Nomura decreased their target price on shares of Carnival Corp. from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $56.57.
Shares of Carnival Corp. (NYSE:CCL) traded up 0.48% during midday trading on Wednesday, reaching $48.58. 3,134,166 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $46.47 and a 200 day moving average price of $47.79. The firm has a market cap of $36.19 billion, a PE ratio of 16.74 and a beta of 0.84. Carnival Corp. has a 12 month low of $40.52 and a 12 month high of $55.77.
Carnival Corp. (NYSE:CCL) last issued its quarterly earnings data on Monday, September 26th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.03. The firm earned $5.10 billion during the quarter. Carnival Corp. had a net margin of 15.10% and a return on equity of 10.76%. The company’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.75 earnings per share.
A number of hedge funds have recently bought and sold shares of the company. Raymond James Trust N.A. purchased a new stake in Carnival Corp. during the first quarter valued at about $300,000. OLD National Bancorp IN boosted its stake in Carnival Corp. by 12.0% in the first quarter. OLD National Bancorp IN now owns 7,379 shares of the company’s stock valued at $389,000 after buying an additional 791 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in Carnival Corp. by 8.0% in the first quarter. Glenmede Trust Co. NA now owns 133,274 shares of the company’s stock valued at $7,032,000 after buying an additional 9,824 shares in the last quarter. Telemus Capital LLC purchased a new stake in Carnival Corp. during the first quarter valued at about $269,000. Finally, Commonwealth Equity Services Inc boosted its stake in Carnival Corp. by 8.9% in the first quarter. Commonwealth Equity Services Inc now owns 17,086 shares of the company’s stock valued at $902,000 after buying an additional 1,403 shares in the last quarter. Institutional investors and hedge funds own 77.99% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 26th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.90%. The ex-dividend date was Wednesday, August 24th. Carnival Corp.’s dividend payout ratio is presently 42.94%.
About Carnival Corp.
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
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