Carnival expanding its cruises to Cuba

So could any of the ships that cruise from the port of New Orleans be the next to offer trips to Cuba? Carnival believes that it is well positioned for continued earnings growth, given the current strength in its bookings along with pricing trends for the year. "Yet, negative currency translation and macroeconomic issues in key operating regions remain potent headwinds, while increasing fuel costs could impact profitability". Wells Fargo & Company restated an "overweight" rating on shares of Carnival Corporation in a research report on Friday, December 23rd. J P Morgan Chase & Co reaffirmed a "neutral" rating and set a $46.00 price target (down from $58.00) on shares of Carnival Corporation in a report on Thursday, October 27th. Goldman Sachs Group, Inc.

A number of analysts have issued reports on the company. Carnival Corp was Downgraded by Berenberg to Hold on Dec 19, 2016.

Carnival Corporation Gross Margin percentage stands at 42.7% while its Operating Margin for trailing twelve month is 18.7 percent and Profit margin (ttm) is 17 Percent.

The share price of the company (LON:CCL) was down -0.37% during the last trading session, with a high of 4392.00 and the volume of Carnival Corp. shares traded was 208055. The stock is now moving above its 20-Day Simple Moving Average of 5.47% with the 50-Day Simple Moving Average of 5.47 percent.

Cruises that depart from New Orleans and have a stop in Cuba "are certainly a possibility", though Tuesday's approval only gives Carnival the OK to sail there from Tampa, Fla. for now, spokeswoman Jennifer de la Cruz said in an email.

The company reported its EPS on 12/20/2016. The company beat the analyst EPS Estimate with the difference of $0.09. During the same quarter previous year, the company earned $0.50 earnings per share. The firm's revenue for the quarter was up 6.0% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Friday, February 24th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, February 22nd. This represents a $1.40 annualized dividend and a yield of 2.48%. Carnival Corporation's payout ratio is now 37.43%.

This report was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of U.S. and worldwide trademark and copyright laws. In the last ninety days, insiders have sold 142,056 shares of company stock worth $7,461,495.

In other Carnival Corporation news, CFO David Bernstein sold 60,664 shares of the company's stock in a transaction on Thursday, December 29th. The High end of the forecast is $0.4/share, while the Low end is $0.32/share. The disclosure for this sale can be found here. Enbridge Inc. (NYSE:ENB) has a Return on Assets of 2.1 percent, Return on Equity of 13.4 percent, while Return on Investment of 3.1 percent.

Growth Estimate for Carnival Corporation (NYSE:CCL) is projected at -10.3 percent in the Current Quarter and -6.1 percent in the Next Quarter, according to analysts. The stock has been rated an average of 2.24 by 14 Brokerage Firm.

Carnival Corporation (NYSE:CCL): The mean short term price target for Carnival Corporation (NYSE:CCL) has been established at $56.26 per share. Raymond James Financial Services Advisors Inc. raised its position in Carnival Corporation by 22.8% in the fourth quarter.

Want to see what other hedge funds are holding CCL?

Carnival Corporation is a leisure travel company.

  • Todd Kelly