Carnival Corp (NYSE:CCL) last released its quarterly earnings results on Tuesday, September 22nd.
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The company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.12. Eight analysts surveyed by Zacks expected $4.78 billion. Total revenues were down on a day-to-day basis per passenger compared to the same period previous year, but a healthy profit was still made because Carnival have reduced costs.
Revenue in the quarter slipped 1.3 percent to $4.88 billion.
Looking ahead to the fourth quarter, Carnival Corp. expects non-GAAP earnings to be in the range of $0.36 to $0.40 per share and net revenue yields to be up approximately 3 percent compared to the prior year.
In other Carnival Corp news, Director Richard Glasier sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 17th.
The stock had changed +1.469% since market close yesterday. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
On valuation-measures, shares of Carnival Corporation have a trailing-12 and forward P/E of 28.65 and 16.01, respectively. Carnival Corp has a 52 week low of $33.11 and a 52 week high of $54.05. The stock has a 50 day moving average of $50.82 and a 200 day moving average of $48.62. The firm declared its revenue of $1.69 billion in the quarter, also beating Street predictions. Investors of record on Friday, August 21st were issued a $0.30 dividend.
Previous to its deployment to Mobile, the 2,056-passenger Carnival Fantasy will undergo a multi-million-dollar refurbishment that will add several elements of the cruise line’s popular Fun Ship 2.0 product enhancement program, including Guy’s Burger Joint, developed in tandem with Food Network star Guy Fieri, two poolside watering holes, the RedFrog Rum Bar and BlueIguana Tequila Bar, and the BlueIguana Cantina Mexican-themed eatery. The ex-dividend date of this dividend was Wednesday, August 19th. As of today, our analysts report that there was short interest in total of 9440300 of CCL shares.
The price to earnings ratio, or the valuation ratio of a company’s current share price compared to its per-share earnings sits at 43.01. JPMorgan Chase & Co. raised their price objective on Carnival Corp from $52.00 to $57.00 and gave the company a neutral rating in a research report on Wednesday. SunTrust raised their price target on Carnival Corp from $53.00 to $55.00 and gave the company a buy rating in a research note on Wednesday, June 24th. Susquehanna decreased their price target on Carnival Corp from $58.00 to $56.00 in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company.
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Or will it? Carnival’s announcement said that it has been granted USA licenses to operate direct cruises from the United States to Cuba. The Business has three cruise segments that consist of North America cruise brands, Europe, Australia & Asia (NYSE:CUK) cruise brands, and Cruise Support. As of November 30, 2012, tour company owned and operated, among other things, 12 hotels or lodges, over 300 motorcoaches and 20 domed rail cars.
