Carnival Corp (CCL) Releases Earnings Results, Beats Expectations By $0.10 EPS

Carnival Corp (CCL) reported quarterly earnings results on Tuesday, Jun-28-2016. The company said it had a profit of $0.49 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $0.39. The company posted revenue of $3705.00 million in the period, compared to analysts expectations of $3675.04 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on Carnival Corp. Sterne Agee CRT Initiated Carnival Corp on Jun 7, 2016 to “Buy”, Price Target of the shares are set at $60.Shares were Reiterated by Morgan Stanley on May 26, 2016 to “Equal-Weight” and Lowered the Price Target to $ 54 from a previous price target of $60 .Company shares were Reiterated by Stifel on Mar 31, 2016 to “Buy”, Firm has raised the Price Target to $ 67 from a previous price target of $64 .

Carnival Corp closed down -2.01 points or -4.40% at $43.64 with 1,08,92,896 shares getting traded on Monday. Post opening the session at $43.66, the shares hit an intraday low of $43.34 and an intraday high of $44.1 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Apr 5, 2016, Richard Glasier (director) sold 10,000 shares at $52.43 per share price. According to the SEC, on Mar 9, 2016, Arnold W Donald (President & CEO) sold 23,281 shares at $42.99 per share price. On Feb 25, 2016, David Bernstein (Chief Financial Officer) sold 6,214 shares at $48.11 per share price, according to the Form-4 filing with the securities and exchange commission.

Carnival Corporation is a cruise vacation company. The Company has three cruise segments that consist of North America cruise brands Europe Australia & Asia (EAA) cruise brands and Cruise Support. In addition it also has a Tour and Other segment. The Company offers its services under nine cruise brands. Its North America segment cruise brands include Carnival Cruise Lines Holland America Line Princess Cruises (Princess) and Seabourn. Its EAA segment cruise brands include AIDA Cruises (AIDA) Costa Cruises (Costa) Cunard P&O Cruises (Australia) and P&O Cruises (United Kingdom). Its Cruise Support segment includes its cruise port and related facilities located in Cozumel Mexico; Grand Turk Turks and Caicos Islands Roatan Honduras and Puerto Plata Dominican Republic. In addition to its cruise operations it owns Holland America Princess Alaska Tours a tour company in Alaska and the Canadian Yukon.

Carnival Corp

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