$4.46 Billion in Sales Expected for Carnival Corp (CCL) This Quarter

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Brokerages predict that Carnival Corp (NYSE:CCL) will report $4.46 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Carnival’s earnings. The highest sales estimate is $4.51 billion and the lowest is $4.44 billion. Carnival posted sales of $4.26 billion in the same quarter last year, which would indicate a positive year over year growth rate of 4.7%. The firm is expected to issue its next earnings report on Tuesday, December 18th.

On average, analysts expect that Carnival will report full-year sales of $18.90 billion for the current financial year, with estimates ranging from $18.86 billion to $18.95 billion. For the next year, analysts expect that the business will post sales of $20.20 billion, with estimates ranging from $20.10 billion to $20.36 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Carnival.

Carnival (NYSE:CCL) last released its quarterly earnings data on Thursday, September 27th. The company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.04. Carnival had a return on equity of 12.30% and a net margin of 17.15%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period last year, the business posted $2.29 EPS. Carnival’s quarterly revenue was up 5.8% on a year-over-year basis.

Several research firms have weighed in on CCL. ValuEngine raised Carnival from a “sell” rating to a “hold” rating in a research report on Friday, September 14th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Carnival in a research report on Thursday, October 11th. Goldman Sachs Group set a $70.00 price target on Carnival and gave the stock a “hold” rating in a research report on Monday, September 24th. Citigroup dropped their price target on Carnival from $79.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, August 8th. Finally, Argus downgraded Carnival from a “buy” rating to a “hold” rating in a research report on Friday, July 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $72.86.

In other news, General Counsel Arnaldo Perez sold 7,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $64.26, for a total transaction of $449,820.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 23.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of Carnival by 0.5% during the second quarter. Northern Trust Corp now owns 25,028,806 shares of the company’s stock worth $1,434,401,000 after purchasing an additional 121,834 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Carnival by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 3,921,357 shares of the company’s stock worth $224,733,000 after purchasing an additional 55,116 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Carnival by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,140,823 shares of the company’s stock worth $179,999,000 after purchasing an additional 62,365 shares during the last quarter. FMR LLC boosted its holdings in shares of Carnival by 10.0% during the second quarter. FMR LLC now owns 2,894,591 shares of the company’s stock worth $165,888,000 after purchasing an additional 262,856 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Carnival by 7.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 2,318,699 shares of the company’s stock worth $132,887,000 after purchasing an additional 157,976 shares during the last quarter. Institutional investors and hedge funds own 76.42% of the company’s stock.

NYSE CCL traded up $1.43 during mid-day trading on Wednesday, hitting $55.57. The stock had a trading volume of 177,431 shares, compared to its average volume of 3,941,319. Carnival has a 52-week low of $53.47 and a 52-week high of $72.70. The company has a market capitalization of $28.59 billion, a P/E ratio of 14.55, a PEG ratio of 0.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.22 and a quick ratio of 0.17.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 23rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Wednesday, November 21st. Carnival’s payout ratio is 52.36%.

About Carnival

Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.

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