Carnival Reports Earnings; Beats Estimates (CCL)

Carnival Reports Earnings; Beats Estimates (CCL)


Cruise company, Carnival Corporation(CCL) reported fourth quarter earnings, beating analysts expectations on Thursday.

The Miami, FL based company reported fourth quarter earnings of 13 cents per share, beating analysts estimate of 11 cents per share.

Revenue for the quarter came in at $3.58 billion, beating estimates of $3.54 billion.

Looking ahead, the company expects to see first quarter earnings in the range of 3 cents to 7 cents per share. Analysts are expecting to see EPS of 4 cents.

For the FY2013, CCL is estimating EPS to be in the range of $2.20 to $2.40, which would miss analysts estimate of $2.49 per share.

Carnival shares were down -$1.85, or -4.74% during premarket trading Thursday. The stock is up 14% YTD.

The Bottom Line
Shares of Carnival Corporation (CCL) have a 2.56% dividend yield, based on last night’s closing stock price of $39.06. The stock has technical support in the $35-$36 price area. If the shares can firm up, we see overhead resistance around the $41-$43 price levels.

Carnival Corporation(CCL) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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