Is it time to Buy before this week’s earning report Carnival (NYSE:CCL)

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Earnings results for Carnival (NYSE:CCL)

Carnival Corporation is estimated to report earnings on 10/08/2020. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 6 analysts’ forecasts, the consensus EPS forecast for the quarter is $-2.22. The reported EPS for the same quarter last year was $2.63.

Carnival last released its earnings data on July 10th, 2020. The reported ($3.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.79) by $1.51. The business earned $740 million during the quarter, compared to the consensus estimate of $401.40 million. Its revenue was down 84.7% on a year-over-year basis. Carnival has generated $4.40 earnings per share over the last year. Carnival has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, October 8th, 2020 based off prior year’s report dates.

Analyst Opinion on Carnival (NYSE:CCL)

22 Wall Street analysts have issued ratings and price targets for Carnival in the last 12 months. Their average twelve-month price target is $18.82, predicting that the stock has a possible upside of 17.71%. The high price target for CCL is $50.00 and the low price target for CCL is $10.00. There are currently 5 sell ratings, 11 hold ratings and 6 buy ratings for the stock, resulting in a consensus rating of “Hold.”

Carnival has received a consensus rating of Hold. The company’s average rating score is 2.05, and is based on 6 buy ratings, 11 hold ratings, and 5 sell ratings. According to analysts’ consensus price target of $18.82, Carnival has a forecasted upside of 17.7% from its current price of $15.99. Carnival has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Carnival (NYSE:CCL)

Carnival does not currently pay a dividend. Carnival does not have a long track record of dividend growth.

Insiders buying/selling: Carnival (NYSE:CCL)

In the past three months, Carnival insiders have not sold or bought any company stock. Only 24.00% of the stock of Carnival is held by insiders. 64.07% of the stock of Carnival is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Carnival (NYSE:CCL

Earnings for Carnival are expected to grow in the coming year, from ($7.44) to ($3.89) per share. The P/E ratio of Carnival is -3.98, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Carnival is -3.98, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Carnival has a P/B Ratio of 0.33. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

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