Carnival Co. & (NYSE:CCL) Trading Down 6.3% – Here’s What Happened

Shares of Carnival Co. & plc (NYSE:CCL) traded down 6.3% on Tuesday . The stock traded as low as $21.44 and last traded at $21.79. 18,712,824 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 26,006,549 shares. The stock had previously closed at $23.26.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CCL shares. Stifel Nicolaus raised their target price on shares of Carnival Co. & from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Citigroup lifted their price objective on shares of Carnival Co. & from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Truist Financial raised their price target on Carnival Co. & from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Sanford C. Bernstein started coverage on Carnival Co. & in a research note on Tuesday, November 26th. They set a “market perform” rating and a $26.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on Carnival Co. & from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.11.

Carnival Co. & Price Performance

The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.25 and a current ratio of 0.29. The stock has a market capitalization of $25.46 billion, a PE ratio of 15.73, a P/E/G ratio of 0.73 and a beta of 2.64. The company’s fifty day simple moving average is $25.40 and its two-hundred day simple moving average is $22.61.

Carnival Co. & (NYSE:CCL) last issued its quarterly earnings data on Friday, December 20th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.94 billion. Carnival Co. & had a return on equity of 24.13% and a net margin of 7.66%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. As a group, sell-side analysts predict that Carnival Co. & plc will post 1.77 EPS for the current year.

Institutional Trading of Carnival Co. &

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Carnival Co. & during the third quarter worth about $25,000. Measured Risk Portfolios Inc. acquired a new position in Carnival Co. & in the 4th quarter valued at $29,000. Crewe Advisors LLC lifted its stake in shares of Carnival Co. & by 275.8% during the 4th quarter. Crewe Advisors LLC now owns 1,210 shares of the company’s stock worth $30,000 after purchasing an additional 888 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Carnival Co. & in the fourth quarter valued at $30,000. Finally, Assetmark Inc. lifted its position in Carnival Co. & by 1,431.5% during the third quarter. Assetmark Inc. now owns 1,654 shares of the company’s stock worth $31,000 after buying an additional 1,546 shares during the period. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Carnival Co. & Company Profile

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.