Brokerages Expect Carnival Corp (NYSE:CCL) to Post $0.61 EPS

Equities research analysts expect Carnival Corp (NYSE:CCL) to report earnings of $0.61 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Carnival’s earnings, with estimates ranging from $0.57 to $0.65. Carnival reported earnings per share of $0.68 during the same quarter last year, which would suggest a negative year-over-year growth rate of 10.3%. The company is scheduled to report its next earnings results on Monday, June 24th.

According to Zacks, analysts expect that Carnival will report full year earnings of $4.53 per share for the current year, with EPS estimates ranging from $4.49 to $4.61. For the next year, analysts anticipate that the business will post earnings of $5.01 per share, with EPS estimates ranging from $4.82 to $5.16. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Carnival.

Carnival (NYSE:CCL) last posted its earnings results on Tuesday, March 26th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.31 billion. Carnival had a return on equity of 12.30% and a net margin of 16.03%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share.

Several equities research analysts have weighed in on CCL shares. Goldman Sachs Group raised Carnival from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $65.00 in a research note on Wednesday, March 13th. Zacks Investment Research cut Carnival from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. ValuEngine cut Carnival from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. Deutsche Bank reaffirmed a “hold” rating and set a $59.00 target price on shares of Carnival in a research note on Wednesday, March 27th. Finally, Buckingham Research cut their target price on Carnival from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $66.28.

Institutional investors and hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund grew its position in shares of Carnival by 4,485.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,764,160 shares of the company’s stock valued at $178,000 after acquiring an additional 8,573,046 shares during the period. Norges Bank acquired a new stake in shares of Carnival during the 4th quarter valued at about $209,889,000. BlackRock Inc. grew its position in shares of Carnival by 8.2% during the 1st quarter. BlackRock Inc. now owns 30,754,347 shares of the company’s stock valued at $1,559,860,000 after acquiring an additional 2,336,518 shares during the period. Millennium Management LLC grew its position in shares of Carnival by 181.5% during the 4th quarter. Millennium Management LLC now owns 3,191,587 shares of the company’s stock valued at $157,345,000 after acquiring an additional 2,057,923 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Carnival by 103.8% during the 4th quarter. American Century Companies Inc. now owns 3,707,605 shares of the company’s stock valued at $182,785,000 after acquiring an additional 1,888,587 shares during the period. 74.98% of the stock is currently owned by institutional investors.

Shares of NYSE CCL opened at $52.85 on Tuesday. The company has a current ratio of 0.22, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. Carnival has a 1-year low of $45.64 and a 1-year high of $67.69. The company has a market cap of $28.13 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.12 and a beta of 1.23.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.78%. The ex-dividend date is Thursday, May 23rd. Carnival’s dividend payout ratio is currently 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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Earnings History and Estimates for Carnival (NYSE:CCL)

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