Carnival Co. & (NYSE:CCL) Trading Down 8.6% – Here’s Why

Carnival Co. & plc (NYSE:CCL) shares fell 8.6% during mid-day trading on Thursday . The company traded as low as $23.42 and last traded at $23.85. 14,139,885 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 19,194,982 shares. The stock had previously closed at $26.09.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCL. Stifel Nicolaus raised their target price on Carnival Co. & from $32.00 to $34.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Truist Financial raised their target price on Carnival Co. & from $29.00 to $30.00 and gave the company a “hold” rating in a report on Friday, January 24th. Loop Capital began coverage on Carnival Co. & in a report on Tuesday, February 4th. They issued a “hold” rating and a $25.00 target price on the stock. Sanford C. Bernstein began coverage on Carnival Co. & in a report on Tuesday, November 26th. They issued a “market perform” rating and a $26.00 target price on the stock. Finally, Bank of America raised their target price on Carnival Co. & from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $27.11.

Carnival Co. & Trading Down 6.1 %

The company has a 50 day moving average of $25.73 and a 200 day moving average of $22.05. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 2.80. The firm has a market cap of $28.52 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 0.77 and a beta of 2.64.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings results on Friday, December 20th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.08 by $0.06. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.94 billion. Carnival Co. & had a return on equity of 24.13% and a net margin of 7.66%. Carnival Co. &’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.07) EPS. As a group, research analysts anticipate that Carnival Co. & plc will post 1.77 EPS for the current year.

Hedge Funds Weigh In On Carnival Co. &

Institutional investors have recently bought and sold shares of the business. Measured Risk Portfolios Inc. bought a new position in Carnival Co. & in the 4th quarter valued at $29,000. Orion Capital Management LLC bought a new stake in shares of Carnival Co. & during the fourth quarter worth $30,000. Crewe Advisors LLC raised its position in shares of Carnival Co. & by 275.8% during the fourth quarter. Crewe Advisors LLC now owns 1,210 shares of the company’s stock worth $30,000 after acquiring an additional 888 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Carnival Co. & during the third quarter worth $25,000. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Carnival Co. & during the fourth quarter worth $34,000. Institutional investors own 67.19% of the company’s stock.

About Carnival Co. &

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.