Carnival (CCL) Releases Q1 Earnings Guidance
Carnival (NYSE:CCL) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.37-0.41 for the period, compared to the Thomson Reuters consensus estimate of $0.47. Carnival also updated its FY18 guidance to $4.00-4.30 EPS.
Several equities analysts recently issued reports on the company. Zacks Investment Research lowered Carnival from a buy rating to a hold rating in a research note on Friday, September 8th. Stifel Nicolaus increased their target price on Carnival from $79.00 to $80.00 and gave the stock a buy rating in a research note on Wednesday. Susquehanna Bancshares increased their target price on Carnival from $75.00 to $76.00 and gave the stock a positive rating in a research note on Monday, September 25th. Credit Suisse Group reissued a neutral rating on shares of Carnival in a research note on Thursday, September 28th. Finally, Instinet reissued a buy rating and set a $75.00 target price on shares of Carnival in a research note on Monday, October 2nd. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Carnival has an average rating of Buy and a consensus price target of $72.31.
Shares of Carnival (NYSE:CCL) opened at $67.70 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.21 and a quick ratio of 0.16. The stock has a market capitalization of $36,506.50, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73. Carnival has a 12-month low of $51.70 and a 12-month high of $69.89.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 24th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Wednesday, November 22nd. This is a positive change from Carnival’s previous quarterly dividend of $0.40. Carnival’s dividend payout ratio (DPR) is 44.57%.
In other news, CEO Arnold W. Donald sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $65.57, for a total transaction of $327,850.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Arnold W. Donald sold 90,903 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $67.41, for a total value of $6,127,771.23. The disclosure for this sale can be found here. Insiders have sold a total of 100,903 shares of company stock worth $6,782,771 in the last three months. Corporate insiders own 23.80% of the company’s stock.
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Carnival Company Profile
Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
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