Carnival Corporation (CCL) Issues FY17 Earnings Guidance

Carnival Corporation (NYSE:CCL) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $3.60-3.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.71. Carnival Corporation also updated its Q3 guidance to $2.16-2.20 EPS.

Several equities analysts have recently commented on the stock. UBS Group AG restated a buy rating and set a $67.00 price target on shares of Carnival Corporation in a report on Monday, April 17th. Stifel Nicolaus boosted their price target on shares of Carnival Corporation from $65.00 to $68.00 and gave the company a buy rating in a report on Wednesday, March 29th. Zacks Investment Research upgraded shares of Carnival Corporation from a hold rating to a buy rating and set a $74.00 price target on the stock in a report on Wednesday, July 12th. Barclays PLC boosted their price target on shares of Carnival Corporation from $56.00 to $63.00 and gave the company an equal weight rating in a report on Wednesday, March 29th. Finally, William Blair reiterated an outperform rating on shares of Carnival Corporation in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $61.07.

Shares of Carnival Corporation (NYSE CCL) traded down 0.40% during mid-day trading on Tuesday, reaching $66.75. 3,059,154 shares of the company’s stock traded hands. Carnival Corporation has a 12 month low of $44.11 and a 12 month high of $67.30. The firm has a 50 day moving average price of $65.38 and a 200-day moving average price of $59.70. The stock has a market cap of $48.33 billion, a PE ratio of 17.65 and a beta of 0.75.

Carnival Corporation (NYSE:CCL) last announced its quarterly earnings results on Thursday, June 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 EPS. On average, analysts predict that Carnival Corporation will post $3.74 earnings per share for the current fiscal year.

Carnival Corporation announced that its Board of Directors has initiated a stock repurchase plan on Friday, April 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In other Carnival Corporation news, Director Sir John Parker sold 19,965 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $60.98, for a total transaction of $1,217,465.70. Following the sale, the director now directly owns 22,798 shares of the company’s stock, valued at approximately $1,390,222.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.80% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by BBNS and is the sole property of of BBNS. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://baseballnewssource.com/markets/carnival-corporation-ccl-updates-fy17-earnings-guidance-updated-updated-updated/1073027.html.

Carnival Corporation 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.

Earnings History and Estimates for Carnival Corporation (NYSE:CCL)

Receive News & Ratings for Carnival Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Tigers Would Include Cash in Verlander Deal and Other MLB Trade Rumors
Tigers Would Include Cash in Verlander Deal and Other MLB Trade Rumors
Todd Frazier Trade to Boston Appears to Be Decided
Todd Frazier Trade to Boston Appears to Be Decided
Chicago White Sox Continue Rebuild Without Jose Quintana
Chicago White Sox Continue Rebuild Without Jose Quintana
Mike Trout Returns from Injury With Single and Stole Base
Mike Trout Returns from Injury With Single and Stole Base
Chicago Cubs Strengthen Rotation Through Trade for Jose Quintana
Chicago Cubs Strengthen Rotation Through Trade for Jose Quintana
Players Know They Could Go From All-Star Game to Trade Block
Players Know They Could Go From All-Star Game to Trade Block


Leave a Reply

 
© 2006-2017 BBNS.