Zacks: Brokerages Anticipate Carnival Corp (NYSE:CCL) to Announce $2.53 Earnings Per Share

Wall Street brokerages expect Carnival Corp (NYSE:CCL) to report $2.53 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Carnival’s earnings, with the highest EPS estimate coming in at $2.56 and the lowest estimate coming in at $2.50. Carnival posted earnings of $2.36 per share in the same quarter last year, which suggests a positive year over year growth rate of 7.2%. The business is scheduled to issue its next earnings results on Thursday, September 26th.

On average, analysts expect that Carnival will report full year earnings of $4.34 per share for the current year, with EPS estimates ranging from $4.28 to $4.39. For the next financial year, analysts forecast that the business will post earnings of $4.77 per share, with EPS estimates ranging from $4.63 to $5.03. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Carnival.

Carnival (NYSE:CCL) last released its quarterly earnings results on Thursday, June 20th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.05. Carnival had a net margin of 15.09% and a return on equity of 12.15%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year.

Several research analysts have weighed in on CCL shares. ValuEngine lowered shares of Carnival from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 11th. Nomura lowered shares of Carnival from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $60.00 to $52.00 in a research note on Thursday, June 20th. Deutsche Bank dropped their price objective on shares of Carnival from $54.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Wells Fargo & Co dropped their price objective on shares of Carnival from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. Finally, Wolfe Research lowered shares of Carnival from an “outperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $61.72.

In other Carnival news, Director Randall J. Weisenburger bought 20,000 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was bought at an average cost of $46.50 per share, with a total value of $930,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arnold W. Donald bought 22,050 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was acquired at an average cost of $45.23 per share, with a total value of $997,321.50. The disclosure for this purchase can be found here. Insiders own 24.10% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CCL. Icon Advisers Inc. Co. boosted its holdings in Carnival by 72.0% in the 2nd quarter. Icon Advisers Inc. Co. now owns 19,112 shares of the company’s stock valued at $890,000 after purchasing an additional 8,000 shares during the period. Comerica Bank boosted its holdings in Carnival by 2.2% in the 2nd quarter. Comerica Bank now owns 79,010 shares of the company’s stock valued at $3,606,000 after purchasing an additional 1,696 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Carnival by 6.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 267,914 shares of the company’s stock valued at $12,471,000 after purchasing an additional 17,209 shares during the period. Sigma Planning Corp boosted its holdings in Carnival by 22.4% in the 2nd quarter. Sigma Planning Corp now owns 9,683 shares of the company’s stock valued at $451,000 after purchasing an additional 1,773 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Carnival by 5.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 68,181 shares of the company’s stock valued at $3,195,000 after purchasing an additional 3,414 shares during the period. 74.46% of the stock is owned by institutional investors.

Shares of CCL stock traded down $0.87 during trading hours on Friday, reaching $45.79. 48,344 shares of the stock traded hands, compared to its average volume of 3,435,035. The firm has a market capitalization of $24.41 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 1.13 and a beta of 1.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.27 and a quick ratio of 0.22. The firm has a fifty day moving average of $47.28. Carnival has a 1-year low of $44.76 and a 1-year high of $67.69.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 23rd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.37%. The ex-dividend date is Thursday, August 22nd. Carnival’s dividend payout ratio is 46.95%.

About Carnival

Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.

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