FY2017 EPS Estimates for Carnival Corp. (CCL) Decreased by Wedbush
Carnival Corp. (NYSE:CCL) – Stock analysts at Wedbush reduced their FY2017 earnings per share estimates for shares of Carnival Corp. in a report issued on Friday. Wedbush analyst J. Hardiman now anticipates that the brokerage will post earnings of $3.65 per share for the year, down from their previous estimate of $3.66. Wedbush currently has a “Neutral” rating and a $54.00 target price on the stock.
Carnival Corp. (NYSE:CCL) last issued its earnings results on Monday, September 26th. The company reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.03. Carnival Corp. had a net margin of 15.10% and a return on equity of 10.76%. The firm earned $5.10 billion during the quarter. During the same period in the previous year, the company posted $1.75 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis.
CCL has been the topic of several other reports. Bank of America Corp. set a $53.40 price target on shares of Carnival Corp. and gave the company a “buy” rating in a report on Wednesday, September 21st. Macquarie initiated coverage on shares of Carnival Corp. in a report on Tuesday, October 4th. They set a “neutral” rating and a $55.00 price target on the stock. Morgan Stanley lowered shares of Carnival Corp. from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $54.00 to $48.00 in a report on Friday, September 2nd. HSBC initiated coverage on shares of Carnival Corp. in a report on Monday, October 3rd. They set a “buy” rating and a $60.00 price target on the stock. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of Carnival Corp. in a report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $55.92.
Shares of Carnival Corp. (NYSE:CCL) traded up 1.11% during midday trading on Monday, hitting $46.62. 1,853,379 shares of the stock traded hands. Carnival Corp. has a 52 week low of $40.52 and a 52 week high of $55.77. The firm has a 50-day moving average price of $46.98 and a 200-day moving average price of $47.64. The stock has a market capitalization of $34.03 billion, a P/E ratio of 14.50 and a beta of 0.80.
In other news, CFO David Bernstein sold 4,030 shares of the company’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $49.18, for a total value of $198,195.40. Following the completion of the sale, the chief financial officer now owns 47,256 shares in the company, valued at approximately $2,324,050.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.00% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of CCL. Rothschild Investment Corp IL raised its stake in Carnival Corp. by 79.8% in the third quarter. Rothschild Investment Corp IL now owns 20,622 shares of the company’s stock valued at $1,007,000 after buying an additional 9,150 shares during the last quarter. CWM LLC raised its stake in Carnival Corp. by 5.6% in the third quarter. CWM LLC now owns 65,522 shares of the company’s stock valued at $3,199,000 after buying an additional 3,498 shares during the last quarter. National Pension Service raised its stake in Carnival Corp. by 8.6% in the third quarter. National Pension Service now owns 318,593 shares of the company’s stock valued at $15,554,000 after buying an additional 25,162 shares during the last quarter. Forte Capital LLC ADV raised its stake in Carnival Corp. by 23.5% in the third quarter. Forte Capital LLC ADV now owns 18,118 shares of the company’s stock valued at $885,000 after buying an additional 3,451 shares during the last quarter. Finally, AT Bancorp purchased a new stake in Carnival Corp. during the third quarter valued at about $1,561,000. Hedge funds and other institutional investors own 77.93% of the company’s stock.
Carnival Corp. Company Profile
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
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