Carnival (CCL) Stock Higher on Q3 Beat, Outlook - TheStreet

NEW YORK (TheStreet) -- Shares of Carnival (CCL) - Get Report  were rising in pre-market trading on Monday as the cruise company posted better-than-expected fiscal 2016 third-quarter results and a higher full-year outlook before today's opening bell. 

Carnival reported earnings of $1.92 per share, surpassing Wall Street's expected $1.88 per share. 

Revenue came in at $5.1 billion, exceeding analysts' projected $5.06 billion in revenue. 

During the same quarter last year, the Miami-based company earned $1.75 per share and $4.88 billion in revenue. 

Carnival said it now expects 2016 earnings to be in the range of $3.33 and $3.37 per share, above its prior estimates of $3.25 to $3.35 per share. Wall Street is looking for 2016 earnings of $3.39 per share. 

The company projects fourth quarter earnings to be between 55 cents and 59 cents per share, while analysts are projecting 58 cents per share. 

Carnival added that advance bookings for the first half of 2017 are ahead of 2016 bookings at "considerably higher prices."

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

TheStreet Ratings team rates Carnival as a Buy with a ratings score of B. This is driven by a number of strengths, which it believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, attractive valuation levels and expanding profit margins. The team feels its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

You can view the full analysis from the report here: CCL

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