Carnival Corp. Forecasted to Post Q3 2017 Earnings of $2.27 Per Share (CCL)
Carnival Corp. (NYSE:CCL) – Equities research analysts at William Blair issued their Q3 2017 earnings per share (EPS) estimates for Carnival Corp. in a note issued to investors on Tuesday. William Blair analyst S. Zackfia forecasts that the firm will post earnings per share of $2.27 for the quarter. William Blair also issued estimates for Carnival Corp.’s FY2017 earnings at $3.88 EPS.
A number of other equities analysts also recently issued reports on the stock. Nomura decreased their price target on shares of Carnival Corp. from $62.00 to $59.00 and set a “buy” rating for the company in a research note on Tuesday. Bank of America Corp. set a $53.40 price target on shares of Carnival Corp. and gave the stock a “buy” rating in a research note on Wednesday, September 21st. Sterne Agee CRT began coverage on shares of Carnival Corp. in a research note on Tuesday, June 7th. They issued a “buy” rating and a $60.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 price target on shares of Carnival Corp. in a research note on Tuesday. Finally, Buckingham Research increased their price target on shares of Carnival Corp. from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $55.97.
Shares of Carnival Corp. (NYSE:CCL) traded up 1.16% during trading on Thursday, hitting $48.82. The stock had a trading volume of 4,481,452 shares. The stock has a 50 day moving average of $46.74 and a 200 day moving average of $47.81. Carnival Corp. has a 52-week low of $40.52 and a 52-week high of $55.77. The firm has a market cap of $35.64 billion, a PE ratio of 15.18 and a beta of 0.84.
Carnival Corp. (NYSE:CCL) last announced its earnings results on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. Carnival Corp. had a return on equity of 10.76% and a net margin of 15.10%. The firm had revenue of $5.10 billion for the quarter. During the same quarter in the previous year, the firm earned $1.75 EPS. Carnival Corp.’s quarterly revenue was up 4.4% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hutchinson Capital Management CA boosted its position in Carnival Corp. by 17.3% in the first quarter. Hutchinson Capital Management CA now owns 383,402 shares of the company’s stock worth $20,232,000 after buying an additional 56,634 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Carnival Corp. by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 12,015,037 shares of the company’s stock worth $634,034,000 after buying an additional 83,092 shares in the last quarter. FDO Partners LLC bought a new stake in shares of Carnival Corp. during the first quarter worth about $1,216,000. Teachers Advisors Inc. increased its stake in shares of Carnival Corp. by 3.4% in the first quarter. Teachers Advisors Inc. now owns 851,409 shares of the company’s stock worth $44,929,000 after buying an additional 28,237 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Carnival Corp. by 17.3% in the first quarter. TIAA CREF Investment Management LLC now owns 2,340,640 shares of the company’s stock worth $123,516,000 after buying an additional 345,560 shares in the last quarter. Institutional investors own 77.99% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Wednesday, August 24th. Carnival Corp.’s dividend payout ratio (DPR) is 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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