Carnival Corp (NYSE:CCL) – Stock analysts at SunTrust Banks lowered their Q3 2019 earnings per share estimates for shares of Carnival in a report issued on Friday, June 21st, according to Zacks Investment Research. SunTrust Banks analyst P. Scholes now expects that the company will earn $2.51 per share for the quarter, down from their previous forecast of $2.67. SunTrust Banks currently has a “Buy” rating and a $65.00 price target on the stock. SunTrust Banks also issued estimates for Carnival’s Q4 2019 earnings at $0.66 EPS, FY2019 earnings at $4.32 EPS, Q1 2020 earnings at $0.54 EPS, Q3 2020 earnings at $2.71 EPS, Q4 2020 earnings at $0.73 EPS and FY2020 earnings at $4.63 EPS.
Carnival (NYSE:CCL) last issued its quarterly earnings data on Thursday, June 20th. The company reported $0.66 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 company 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. Carnival’s revenue was up 11.0% compared to the same quarter last year.
Shares of CCL traded down $0.50 during trading hours on Monday, hitting $46.45. The stock had a trading volume of 4,168,800 shares, compared to its average volume of 4,132,223. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.27 and a quick ratio of 0.22. Carnival has a 12 month low of $44.76 and a 12 month high of $67.69. The company has a market cap of $24.74 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.10 and a beta of 1.09. The firm has a fifty day moving average price of $49.12.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 23rd will be issued 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 dividend payout ratio (DPR) is 46.95%.
In related news, Director Randall J. Weisenburger acquired 20,000 shares of Carnival stock in a transaction on Wednesday, July 3rd. The shares were bought 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arnold W. Donald acquired 22,050 shares of Carnival stock in a transaction on Tuesday, June 25th. The shares were bought 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. Insiders own 24.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Carnival during the fourth quarter valued at approximately $209,889,000. BlackRock Inc. boosted its holdings in shares of Carnival by 8.2% in the first quarter. BlackRock Inc. now owns 30,754,347 shares of the company’s stock valued at $1,559,860,000 after purchasing an additional 2,336,518 shares during the period. Millennium Management LLC boosted its holdings in shares of Carnival by 181.5% in the fourth quarter. Millennium Management LLC now owns 3,191,587 shares of the company’s stock valued at $157,345,000 after purchasing an additional 2,057,923 shares during the period. American Century Companies Inc. boosted its holdings in shares of Carnival by 103.8% in the fourth quarter. American Century Companies Inc. now owns 3,707,605 shares of the company’s stock valued at $182,785,000 after purchasing an additional 1,888,587 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in shares of Carnival by 40.3% in the fourth quarter. Two Sigma Advisers LP now owns 4,261,589 shares of the company’s stock valued at $210,096,000 after purchasing an additional 1,225,024 shares during the period. 74.89% of the stock is currently owned by institutional investors.
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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