William Blair Analysts Boost Earnings Estimates for Carnival Corporation (CCL)

Carnival Corporation (NYSE:CCL) – Equities researchers at William Blair boosted their Q3 2017 EPS estimates for shares of Carnival Corporation in a note issued to investors on Wednesday. William Blair analyst S. Zackfia now expects that the company will post earnings of $2.21 per share for the quarter, up from their previous forecast of $2.20. William Blair has a “Outperform” rating on the stock.

CCL has been the subject of a number of other reports. Stifel Nicolaus restated a “buy” rating and issued a $68.00 price target on shares of Carnival Corporation in a research report on Friday, June 16th. Credit Suisse Group reiterated an “outperform” rating and issued a $74.00 price objective (up from $69.00) on shares of Carnival Corporation in a report on Saturday, June 3rd. KeyCorp cut Carnival Corporation to an “overweight” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded Carnival Corporation from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Tuesday, August 1st. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $62.00 price objective (up from $58.00) on shares of Carnival Corporation in a report on Sunday, June 25th. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Carnival Corporation has a consensus rating of “Buy” and an average target price of $63.07.

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Shares of Carnival Corporation (NYSE:CCL) opened at 65.94 on Friday. Carnival Corporation has a 52 week low of $45.46 and a 52 week high of $69.89. The company’s 50 day moving average price is $67.77 and its 200-day moving average price is $63.36. The company has a market capitalization of $47.74 billion, a price-to-earnings ratio of 17.44 and a beta of 0.74.

Carnival Corporation (NYSE:CCL) last posted its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. Carnival Corporation had a return on equity of 11.26% and a net margin of 16.48%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company earned $0.49 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Carnival Corporation by 3.3% during the second quarter. Vanguard Group Inc. now owns 28,919,554 shares of the company’s stock worth $1,896,255,000 after acquiring an additional 934,311 shares during the period. BlackRock Inc. increased its position in shares of Carnival Corporation by 2.0% during the second quarter. BlackRock Inc. now owns 28,469,248 shares of the company’s stock worth $1,866,728,000 after acquiring an additional 550,116 shares during the period. Bank of America Corp DE increased its position in shares of Carnival Corporation by 6.5% during 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 acquiring an additional 1,519,630 shares during the period. State Street Corp increased its position in shares of Carnival Corporation by 1.6% during the first quarter. State Street Corp now owns 17,999,377 shares of the company’s stock worth $1,060,346,000 after acquiring an additional 284,607 shares during the period. Finally, Investec Asset Management LTD increased its position in shares of Carnival Corporation by 6.5% during the second quarter. Investec Asset Management LTD now owns 4,961,591 shares of the company’s stock worth $325,332,000 after acquiring an additional 303,161 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Alan Buckelew sold 15,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 23.80% of the stock is currently owned by corporate insiders.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Wednesday, August 23rd. Carnival Corporation’s dividend payout ratio is currently 42.55%.

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.

Earnings History and Estimates for Carnival Corporation (NYSE:CCL)

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