Carnival Corp. Expected to Earn FY2017 Earnings of $3.65 Per Share (CCL)
Carnival Corp. (NYSE:CCL) – Wedbush lowered their FY2017 EPS estimates for Carnival Corp. in a report issued on Friday. Wedbush analyst J. Hardiman now expects that the brokerage will post earnings of $3.65 per share for the year, down from their previous forecast of $3.66. Wedbush currently has a “Neutral” rating and a $54.00 price target on the stock.
Carnival Corp. (NYSE:CCL) last released its quarterly earnings data on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate 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 earned $5.10 billion during the quarter. During the same period in the previous year, the business earned $1.75 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis.
CCL has been the subject of several other reports. Bank of America Corp. set a $53.40 target price on Carnival Corp. and gave the company a “buy” rating in a report on Wednesday, September 21st. Macquarie initiated coverage on Carnival Corp. in a report on Tuesday, October 4th. They set a “neutral” rating and a $55.00 target price for the company. Morgan Stanley lowered Carnival Corp. from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $54.00 to $48.00 in a report on Friday, September 2nd. HSBC initiated coverage on Carnival Corp. in a report on Monday, October 3rd. They set a “buy” rating and a $60.00 target price for the company. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of Carnival Corp. in a report on Wednesday, September 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $55.64.
Carnival Corp. (NYSE:CCL) traded up 0.09% during trading on Monday, reaching $46.56. The company’s stock had a trading volume of 1,957,030 shares. The firm has a market capitalization of $33.99 billion, a P/E ratio of 14.48 and a beta of 0.80. Carnival Corp. has a 52 week low of $40.52 and a 52 week high of $55.77. The firm has a 50-day moving average price of $46.96 and a 200-day moving average price of $47.60.
Institutional investors have recently bought and sold shares of the company. First Quadrant L P CA bought a new position in Carnival Corp. during the third quarter worth $13,255,000. Stewart & Patten Co. LLC increased its position in Carnival Corp. by 5.6% in the third quarter. Stewart & Patten Co. LLC now owns 114,965 shares of the company’s stock worth $5,612,000 after buying an additional 6,093 shares during the period. Regent Investment Management LLC increased its position in Carnival Corp. by 94.0% in the third quarter. Regent Investment Management LLC now owns 23,275 shares of the company’s stock worth $1,136,000 after buying an additional 11,275 shares during the period. Rothschild Investment Corp IL increased its position in Carnival Corp. by 79.8% in the third quarter. Rothschild Investment Corp IL now owns 20,622 shares of the company’s stock worth $1,007,000 after buying an additional 9,150 shares during the period. Finally, CWM LLC increased its position in Carnival Corp. by 5.6% in the third quarter. CWM LLC now owns 65,522 shares of the company’s stock worth $3,199,000 after buying an additional 3,498 shares during the period. 77.93% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO David Bernstein sold 4,030 shares of the company’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $49.18, for a total value of $198,195.40. Following the transaction, the chief financial officer now directly owns 47,256 shares of the company’s stock, valued at $2,324,050.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 22.00% of the stock is currently owned by insiders.
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.
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