Equities research analysts expect Carnival Corporation (NYSE:CCL) to post sales of $4.16 billion for the current quarter, Zacks reports. Five analysts have made estimates for Carnival’s earnings, with the highest sales estimate coming in at $4.23 billion and the lowest estimate coming in at $4.14 billion. Carnival posted sales of $3.94 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, December 19th.

According to Zacks, analysts expect that Carnival will report full-year sales of $4.16 billion for the current financial year, with estimates ranging from $17.39 billion to $17.48 billion. For the next fiscal year, analysts forecast that the company will report sales of $18.40 billion per share, with estimates ranging from $18.11 billion to $18.70 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Carnival.

Carnival (NYSE:CCL) last issued its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.09. Carnival had a return on equity of 12.15% and a net margin of 15.53%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the company posted $1.92 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year.

Several equities analysts have recently issued reports on CCL shares. Zacks Investment Research upgraded Carnival from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Tuesday, August 22nd. UBS reiterated a “buy” rating and issued a $76.00 price target (up previously from $67.00) on shares of Carnival in a research note on Thursday, August 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $79.00 price target (up previously from $74.00) on shares of Carnival in a research note on Wednesday, September 27th. Nomura reiterated a “buy” rating and issued a $75.00 price target on shares of Carnival in a research note on Friday, September 29th. Finally, Instinet reiterated a “buy” rating and issued a $75.00 price target on shares of Carnival in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $67.71.

In related news, CEO Arnold W. Donald sold 5,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $65.43, for a total transaction of $327,150.00. Following the sale, the chief executive officer now owns 115,572 shares in the company, valued at approximately $7,561,875.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.80% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Almanack Investment Partners LLC. bought a new stake in Carnival during the 2nd quarter worth $117,000. Grove Bank & Trust grew its position in shares of Carnival by 367.8% in the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after buying an additional 1,600 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Carnival by 109.4% in the 2nd quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after buying an additional 1,368 shares during the last quarter. Smithfield Trust Co. grew its position in shares of Carnival by 826.2% in the 3rd quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock valued at $182,000 after buying an additional 2,520 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC grew its position in shares of Carnival by 1.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Carnival (NYSE:CCL) opened at $66.00 on Friday. Carnival has a 52 week low of $49.84 and a 52 week high of $69.89. The company has a quick ratio of 0.16, a current ratio of 0.21 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $35,177.63, a price-to-earnings ratio of 17.01, a PEG ratio of 1.34 and a beta of 0.73.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.73%. This is a positive change from Carnival’s previous quarterly dividend of $0.40. Carnival’s payout ratio is currently 43.72%.

ILLEGAL ACTIVITY WARNING: “Carnival Corporation (CCL) Expected to Announce Quarterly Sales of $4.16 Billion” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another website, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/12/02/carnival-corporation-ccl-expected-to-announce-quarterly-sales-of-4-16-billion.html.

Carnival Company Profile

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.

Get a free copy of the Zacks research report on Carnival (CCL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Carnival (NYSE:CCL)

Receive News & Stock Ratings for Carnival Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival Corporation and related stocks with our FREE daily email newsletter.