Carnival (NYSE:CCL) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Carnival (NYSE:CCL) issued its quarterly earnings results on Thursday, June 20th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05, reports. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.49 billion. Carnival had a net margin of 15.09% and a return on equity of 12.15%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS.

NYSE CCL traded up $0.43 during trading hours on Friday, reaching $46.26. 2,871,892 shares of the company’s stock were exchanged, compared to its average volume of 5,583,565. The business’s 50-day moving average price is $49.43. Carnival has a one year low of $44.76 and a one year high of $67.69. 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 market capitalization of $24.15 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 1.09 and a beta of 1.09.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.32%. Carnival’s payout ratio is 46.95%.

In other news, CEO Arnold W. Donald purchased 22,050 shares of Carnival stock in a transaction on Tuesday, June 25th. The stock was purchased at an average price of $45.23 per share, with a total value of $997,321.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Randall J. Weisenburger purchased 20,000 shares of Carnival stock in a transaction on Wednesday, July 3rd. The shares were purchased at an average cost of $46.50 per share, with a total value of $930,000.00. The disclosure for this purchase can be found here. 24.10% of the stock is currently owned by corporate insiders.

CCL has been the subject of several recent research reports. Wedbush set a $130.00 price objective on Childrens Place and gave the stock a “buy” rating in a report on Friday, June 21st. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. SunTrust Banks dropped their price objective on Carnival to $65.00 and set a “buy” rating for the company in a report on Friday, June 21st. Nomura boosted their price objective on Voyager Therapeutics from $26.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, ValuEngine raised Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $61.83.

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 for Carnival (NYSE:CCL)

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