Carnival Co. & (NYSE:CCL) Trading Down 1.4% – What’s Next?

Carnival Co. & plc (NYSE:CCL) shares fell 1.4% during trading on Wednesday . The company traded as low as $21.10 and last traded at $21.15. 4,278,390 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 30,045,229 shares. The stock had previously closed at $21.45.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCL. Morgan Stanley boosted their target price on Carnival Co. & from $15.00 to $16.50 and gave the company an “underweight” rating in a research note on Tuesday, October 1st. Truist Financial lifted their price target on shares of Carnival Co. & from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Susquehanna reissued a “positive” rating and set a $22.00 price objective on shares of Carnival Co. & in a research report on Wednesday, June 26th. JPMorgan Chase & Co. boosted their price objective on shares of Carnival Co. & from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Mizuho increased their target price on Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.53.

Carnival Co. & Trading Down 2.2 %

The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 32.54 and a beta of 2.69. The business has a 50-day simple moving average of $17.85 and a two-hundred day simple moving average of $16.64. The company has a debt-to-equity ratio of 3.10, a current ratio of 0.30 and a quick ratio of 0.26.

Carnival Co. & (NYSE:CCL) last posted its earnings results on Monday, September 30th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.10. Carnival Co. & had a return on equity of 22.30% and a net margin of 6.39%. The business had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period in the previous year, the firm earned $0.86 EPS. The firm’s revenue was up 15.2% compared to the same quarter last year. Equities analysts forecast that Carnival Co. & plc will post 1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC grew its holdings in Carnival Co. & by 29.4% in the 1st quarter. Empowered Funds LLC now owns 16,467 shares of the company’s stock valued at $269,000 after buying an additional 3,741 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Carnival Co. & by 1.0% in the third quarter. Commonwealth Equity Services LLC now owns 4,075,201 shares of the company’s stock valued at $75,310,000 after acquiring an additional 39,491 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Carnival Co. & by 72.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 246,026 shares of the company’s stock worth $4,223,000 after acquiring an additional 103,501 shares during the period. Wedge Capital Management L L P NC raised its stake in Carnival Co. & by 10.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 264,728 shares of the company’s stock worth $4,892,000 after purchasing an additional 24,198 shares in the last quarter. Finally, Cetera Advisors LLC boosted its holdings in Carnival Co. & by 38.3% in the 1st quarter. Cetera Advisors LLC now owns 40,708 shares of the company’s stock valued at $665,000 after purchasing an additional 11,276 shares during the period. Institutional investors and hedge funds own 67.19% of the company’s stock.

About Carnival Co. &

Carnival Corporation & plc engages in the provision of leisure travel services in North America, Australia, Europe, Asia, and internationally. The company operates through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations, private islands, and a solar park, as well as owns and operates hotels, lodges, glass-domed railcars, and motor coaches.