Carnival Corp (NYSE:CCL) – Analysts at William Blair lifted their Q2 2019 earnings per share (EPS) estimates for shares of Carnival in a research report issued to clients and investors on Thursday, June 20th, according to Zacks Investment Research. William Blair analyst S. Zackfia now anticipates that the company will post earnings of $0.66 per share for the quarter, up from their prior forecast of $0.59. William Blair currently has a “Market Perform” rating on the stock. William Blair also issued estimates for Carnival’s Q3 2019 earnings at $2.51 EPS, Q4 2019 earnings at $0.66 EPS and FY2019 earnings at $4.32 EPS.
Several other equities research analysts have also issued reports on CCL. Barclays lifted their price target on from GBX 200 ($2.61) to GBX 210 ($2.74) and gave the stock an “equal weight” rating in a research note on Friday, June 21st. Buckingham Research downgraded Carnival from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $65.00 to $54.00 in a report on Monday, April 15th. Berenberg Bank reiterated a “buy” rating and issued a GBX 100 ($1.31) price objective on shares of in a report on Monday, July 1st. Wells Fargo & Co decreased their price objective on Carnival from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. Finally, Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $61.83.
Carnival (NYSE:CCL) last 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. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be issued 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 dividend payout ratio is presently 46.95%.
In other news, Director Randall J. Weisenburger acquired 20,000 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were acquired at an average cost of $46.50 per share, with a total value of $930,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Arnold W. Donald acquired 22,050 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were purchased at an average cost of $45.23 per share, for a total transaction of $997,321.50. The disclosure for this purchase can be found here. 24.10% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in 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 in the last quarter. London Co. of Virginia boosted its position in Carnival by 4.8% during the 4th quarter. London Co. of Virginia now owns 6,718,972 shares of the company’s stock valued at $331,246,000 after acquiring an additional 308,876 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Carnival by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 4,710,995 shares of the company’s stock worth $231,797,000 after purchasing an additional 292,550 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Carnival by 7.2% in the 1st quarter. Janus Henderson Group PLC now owns 4,361,100 shares of the company’s stock worth $221,207,000 after purchasing an additional 293,077 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Carnival by 40.3% in the 4th quarter. Two Sigma Advisers LP now owns 4,261,589 shares of the company’s stock worth $210,096,000 after purchasing an additional 1,225,024 shares in the last quarter. 74.92% of the stock is currently owned by institutional investors and hedge funds.
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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