Carnival Corp (NYSE:CCL) – Wedbush lowered their Q3 2019 earnings per share (EPS) estimates for Carnival in a research note issued on Friday, June 21st, Zacks Investment Research reports. Wedbush analyst J. Hardiman now anticipates that the company will earn $2.56 per share for the quarter, down from their prior forecast of $2.66. Wedbush has a “Neutral” rating and a $50.00 price objective on the stock. Wedbush also issued estimates for Carnival’s Q4 2019 earnings at $0.67 EPS and FY2019 earnings at $4.36 EPS.
A number of other research firms have also commented on CCL. Wells Fargo & Co reduced their target price on Carnival from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Zacks Investment Research lowered GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Deutsche Bank reaffirmed a “buy” rating and issued a GBX 430 ($5.62) price objective on shares of in a report on Friday, June 21st. William Blair reaffirmed an “outperform” rating on shares of American Software in a report on Thursday, June 20th. Finally, Nomura lifted 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. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $61.83.
Carnival (NYSE:CCL) last issued its earnings results on Thursday, June 20th. The company reported $0.66 earnings per share for the quarter, beating the 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 company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the prior year, the business posted $0.68 EPS. Carnival’s quarterly revenue was up 11.0% compared to the same quarter last year.
Several hedge funds have recently modified their holdings of CCL. Advisory Alpha LLC bought a new stake in Carnival during the first quarter worth approximately $29,000. Sontag Advisory LLC bought a new stake in Carnival during the fourth quarter worth approximately $35,000. Peddock Capital Advisors LLC bought a new stake in Carnival during the first quarter worth approximately $35,000. Doyle Wealth Management bought a new stake in Carnival during the fourth quarter worth approximately $36,000. Finally, Berman Capital Advisors LLC bought a new stake in Carnival during the fourth quarter worth approximately $39,000. 74.89% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Randall J. Weisenburger bought 20,000 shares of Carnival stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arnold W. Donald bought 22,050 shares of Carnival stock in a transaction dated Tuesday, June 25th. The stock was 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.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 23rd will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.00 annualized dividend and a dividend yield of 4.31%. Carnival’s payout ratio is 46.95%.
Carnival Company Profile
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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