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.
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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.
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