Q3 2017 Earnings Forecast for Carnival Corporation Issued By William Blair (CCL)
Carnival Corporation (NYSE:CCL) – Stock analysts at William Blair lifted their Q3 2017 earnings per share estimates for shares of Carnival Corporation in a research note issued on Wednesday. William Blair analyst S. Zackfia now forecasts that the company will post earnings of $2.21 per share for the quarter, up from their previous estimate of $2.20. William Blair has a “Outperform” rating on the stock.
Carnival Corporation (NYSE:CCL) last announced its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. TRADEMARK VIOLATION NOTICE: This piece was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/09/16/q3-2017-earnings-forecast-for-carnival-corporation-issued-by-william-blair-ccl.html.
Several other research analysts have also commented on CCL. Zacks Investment Research lowered shares of Carnival Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Carnival Corporation in a research report on Friday, June 16th. UBS AG reaffirmed a “buy” rating and issued a $76.00 price objective (up previously from $67.00) on shares of Carnival Corporation in a research report on Thursday, August 17th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Carnival Corporation in a research report on Tuesday, June 20th. Finally, BidaskClub downgraded shares of Carnival Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Carnival Corporation presently has a consensus rating of “Buy” and a consensus target price of $63.07.
Carnival Corporation (CCL) opened at 65.94 on Friday. Carnival Corporation has a one year low of $45.46 and a one year high of $69.89. The firm has a market cap of $47.74 billion, a PE ratio of 17.44 and a beta of 0.74. The company has a 50 day moving average of $67.77 and a 200-day moving average of $63.36.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Wednesday, August 23rd. Carnival Corporation’s dividend payout ratio is presently 42.55%.
In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of Carnival Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $67.02, for a total value of $1,005,300.00. Following the completion of the transaction, the insider now owns 150,860 shares of the company’s stock, valued at $10,110,637.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 23.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CCL. BlackRock Inc. boosted its holdings in Carnival Corporation by 2,672.9% in the first quarter. BlackRock Inc. now owns 27,919,132 shares of the company’s stock worth $1,644,716,000 after purchasing an additional 26,912,293 shares during the period. Alliancebernstein L.P. boosted its holdings in Carnival Corporation by 316.9% in the second quarter. Alliancebernstein L.P. now owns 4,236,266 shares of the company’s stock worth $277,772,000 after purchasing an additional 3,220,191 shares during the period. Ameriprise Financial Inc. boosted its holdings in Carnival Corporation by 129.9% in the first quarter. Ameriprise Financial Inc. now owns 3,395,780 shares of the company’s stock worth $201,341,000 after purchasing an additional 1,918,638 shares during the period. Janus Henderson Group PLC boosted its holdings in Carnival Corporation by 115.5% in the second quarter. Janus Henderson Group PLC now owns 3,088,143 shares of the company’s stock worth $202,505,000 after purchasing an additional 1,655,345 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Carnival Corporation by 6.5% in the first quarter. Bank of America Corp DE now owns 24,838,450 shares of the company’s stock worth $1,463,234,000 after purchasing an additional 1,519,630 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.
About Carnival Corporation
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.
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