Carnival Co. & (NYSE:CCL) Trading Down 5.2% – Here’s What Happened

Carnival Co. & plc (NYSE:CCL) was down 5.2% on Monday . The company traded as low as $25.35 and last traded at $25.41. Approximately 9,335,621 shares were traded during trading, a decline of 67% from the average daily volume of 28,630,061 shares. The stock had previously closed at $26.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CCL shares. Sanford C. Bernstein began coverage on shares of Carnival Co. & in a research note on Tuesday, November 26th. They issued a “market perform” rating and a $26.00 price target on the stock. Bank of America boosted their target price on Carnival Co. & from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Macquarie raised their price target on Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Truist Financial boosted their price objective on Carnival Co. & from $20.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Finally, Barclays raised their target price on Carnival Co. & from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Carnival Co. & presently has an average rating of “Moderate Buy” and an average price target of $26.85.

Carnival Co. & Price Performance

The stock has a market capitalization of $29.77 billion, a price-to-earnings ratio of 23.03 and a beta of 2.67. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 3.10. The company’s 50 day moving average is $24.23 and its 200 day moving average is $19.66.

Carnival Co. & (NYSE:CCL) last posted its earnings results on Friday, December 20th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.06. The business 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 22.30% and a net margin of 6.39%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) EPS. Research analysts anticipate that Carnival Co. & plc will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling at Carnival Co. &

In other news, Director Sir Jonathon Band sold 17,500 shares of Carnival Co. & stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $21.72, for a total value of $380,100.00. Following the sale, the director now owns 65,789 shares of the company’s stock, valued at $1,428,937.08. The trade was a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Carnival Co. &

A number of institutional investors have recently added to or reduced their stakes in CCL. Principal Financial Group Inc. grew its holdings in Carnival Co. & by 3.2% during the third quarter. Principal Financial Group Inc. now owns 1,161,417 shares of the company’s stock worth $21,463,000 after acquiring an additional 35,745 shares during the period. Franklin Resources Inc. lifted its stake in shares of Carnival Co. & by 8.5% during the third quarter. Franklin Resources Inc. now owns 58,985 shares of the company’s stock valued at $1,192,000 after buying an additional 4,601 shares during the period. Synovus Financial Corp grew its stake in Carnival Co. & by 5.5% in the 3rd quarter. Synovus Financial Corp now owns 13,456 shares of the company’s stock worth $249,000 after acquiring an additional 700 shares during the period. Tidal Investments LLC grew its position in shares of Carnival Co. & by 2.9% in the third quarter. Tidal Investments LLC now owns 73,147 shares of the company’s stock valued at $1,352,000 after purchasing an additional 2,033 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Carnival Co. & in the third quarter valued at $87,000. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Carnival Co. & Company Profile

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.