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Where is Carnival Corporation (CCL) Heading Next?

Shares of Carnival Corporation (NYSE:CCL) rose $0.46 during today’s regular trading session, a 0.75% increase from the previous closing price of $61.04. The company’s shares traded on weaker-than-usual volume today: $2.88M shares changed hands while the stock’s average volume is 3.33M shares per day. Carnival Corporation (CCL) has gained $2.82, or +4.81%, in the last 30 days. This year-to-date, the company’s shares have increased $9.44, or +18.13%. Over the last 12 months, CCL’s stock price has risen $11.95, or +24.12%. The company’s 52-week range is $42.07 to $63.41.

Carnival Corporation (CCL) Earnings Surprises

Carnival Corporation announced its recent quarter financial results after the market close on 28/03/2017, crushing consensus estimates with both its revenue and earnings. Carnival Corporation posted net revenue of 3.79B, beating Wall Street analysts who had forecast $3.78B. The company reported EPS of $0.38, above the consensus estimate calling for EPS of $0.35 – a positive surprise of 9.32%.

Before that, quarter ending November 2016, Carnival Corporation also surprised analysts by beating the consensus estimate. The Wall Street forecast had projected $0.58 per share, and the company reported EPS of $0.67 – also a 15.06% positive surprise. Revenue during the period amounted to $3.94B, while analysts were anticipating $3.9B.

In the quarter ending August 2016, Carnival Corporation delivered smaller earnings beat. Analysts, on average, were expecting $1.89 per share, and the company reported EPS of $1.92 – amounting to a positive surprise of 1.73%. Revenue during that quarter was posted at $5.1B , whereas the consensus estimate was predicting $5.06B.

The company is scheduled to announce its next quarterly financial results on 27/06/2017 after the market close. The average EPS estimate of 8 Wall Street analysts is $0.47 per share, compared to the company’s reported EPS of $0.49 per share in the year-ago quarter. Analysts are forecasting Carnival Corporation to report revenue of about $3.88B, versus the $3.71B posted last year.

Carnival Corporation (CCL) Consensus Estimates and Price Target

The company’s consensus rating is currently Strong Buy, with 8 analysts rating it a Strong Buy, and 6 analysts rating it with a Hold. The average 12-month price target, as forecast by analysts, is $62.29 , 1.28% higher than the company’s closing price today

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