Carnival Corp. to Post FY2016 Earnings of $3.37 Per Share, SunTrust Banks Forecasts (CCL)
Carnival Corp. (NYSE:CCL) – Stock analysts at SunTrust Banks raised their FY2016 earnings per share (EPS) estimates for Carnival Corp. in a research note issued on Tuesday. SunTrust Banks analyst P. Scholes now anticipates that the brokerage will earn $3.37 per share for the year, up from their previous forecast of $3.34. SunTrust Banks also issued estimates for Carnival Corp.’s Q4 2016 earnings at $0.59 EPS, Q1 2017 earnings at $0.42 EPS, Q2 2017 earnings at $0.50 EPS, Q3 2017 earnings at $2.18 EPS, Q4 2017 earnings at $0.69 EPS and FY2017 earnings at $3.78 EPS.
Carnival Corp. (NYSE:CCL) last released its earnings results on Monday, September 26th. The company reported $1.92 EPS for the quarter, beating 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%. Carnival Corp.’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.75 earnings per share.
Other equities analysts have also recently issued reports about the stock. Sterne Agee CRT started coverage on shares of Carnival Corp. in a research note on Tuesday, June 7th. They set a “buy” rating and a $60.00 price target for the company. Goldman Sachs Group Inc. raised their price target on shares of Carnival Corp. from $46.50 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 29th. Nomura reaffirmed a “buy” rating and set a $62.00 price target on shares of Carnival Corp. in a research note on Wednesday, June 29th. Barclays PLC reaffirmed a “hold” rating and set a $56.00 price target (down from $58.00) on shares of Carnival Corp. in a research note on Wednesday, June 29th. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Carnival Corp. in a research note on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Carnival Corp. currently has an average rating of “Buy” and an average target price of $55.97.
Carnival Corp. (NYSE:CCL) opened at 48.26 on Wednesday. Carnival Corp. has a 1-year low of $40.52 and a 1-year high of $55.77. The company’s 50-day moving average is $46.65 and its 200 day moving average is $47.80. The firm has a market capitalization of $35.95 billion, a PE ratio of 16.63 and a beta of 0.84.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ngam Advisors L.P. increased its position in Carnival Corp. by 3.5% in the first quarter. Ngam Advisors L.P. now owns 168,931 shares of the company’s stock worth $8,915,000 after buying an additional 5,785 shares during the period. Morris Capital Advisors LLC acquired a new position in Carnival Corp. during the first quarter worth about $484,000. Centre Asset Management LLC acquired a new position in Carnival Corp. during the first quarter worth about $5,729,000. CQS Cayman LP boosted its position in Carnival Corp. by 89.0% in the first quarter. CQS Cayman LP now owns 1,595,289 shares of the company’s stock worth $83,927,000 after buying an additional 751,372 shares in the last quarter. Finally, Mondrian Investment Partners LTD boosted its position in Carnival Corp. by 14.1% in the first quarter. Mondrian Investment Partners LTD now owns 1,197,906 shares of the company’s stock worth $63,213,000 after buying an additional 147,953 shares in the last quarter. 77.99% of the stock is owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Wednesday, August 24th. Carnival Corp.’s dividend payout ratio (DPR) is presently 42.94%.
Carnival Corp. Company Profile
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.
Receive News & Stock Ratings for Carnival Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival Corp. and related stocks with our FREE daily email newsletter.