Carnival (NYSE:CCL) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Carnival (NYSE:CCL) announced its quarterly earnings results on Friday. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.11, reports. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.56 billion. Carnival had a net margin of 14.93% and a return on equity of 12.67%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 earnings per share.

NYSE:CCL traded up $3.43 during trading hours on Friday, hitting $50.08. 7,232,586 shares of the stock were exchanged, compared to its average volume of 4,074,145. The firm’s fifty day moving average price is $44.83 and its 200 day moving average price is $45.82. Carnival has a 52-week low of $39.92 and a 52-week high of $59.24. The company has a market cap of $25.01 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.07 and a beta of 1.10. The company has a current ratio of 0.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.35.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Thursday, November 21st. Carnival’s payout ratio is 46.95%.

In other news, Director Sir Jonathon Band sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $40.83, for a total value of $204,150.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 24.10% of the stock is owned by corporate insiders.

A number of brokerages have weighed in on CCL. Deutsche Bank set a $46.00 price objective on shares of Carnival and gave the stock a “hold” rating in a research report on Friday, September 27th. Macquarie set a $53.00 price target on Carnival and gave the company a “buy” rating in a research note on Friday, September 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $54.00 price target on shares of Carnival in a report on Friday, December 6th. Buckingham Research reduced their price target on Carnival from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. They noted that the move was a valuation call. Finally, TheStreet downgraded Carnival from a “b-” rating to a “c+” rating in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $48.45.

About Carnival

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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Earnings History for Carnival (NYSE:CCL)

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