Carnival Co. & (NYSE:CCL) Trading Down 2.2% After Analyst Downgrade

Carnival Co. & plc (NYSE:CCL)’s share price traded down 2.2% during mid-day trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $26.00 to $25.00. Stifel Nicolaus currently has a buy rating on the stock. Carnival Co. & traded as low as $16.73 and last traded at $16.81. 6,753,433 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 31,947,682 shares. The stock had previously closed at $17.19.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Carnival Co. & from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday. The Goldman Sachs Group began coverage on shares of Carnival Co. & in a research report on Wednesday, March 13th. They issued a “buy” rating and a $20.00 target price for the company. Truist Financial raised their target price on shares of Carnival Co. & from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, January 18th. Susquehanna lowered their target price on Carnival Co. & from $23.00 to $22.00 and set a “positive” rating on the stock in a report on Monday. Finally, Wells Fargo & Company raised Carnival Co. & from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.42.

Insider Transactions at Carnival Co. &

In other news, CFO David Bernstein sold 34,020 shares of Carnival Co. & stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $17.05, for a total transaction of $580,041.00. Following the sale, the chief financial officer now owns 335,976 shares of the company’s stock, valued at approximately $5,728,390.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is owned by insiders.

Institutional Trading of Carnival Co. &

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Carnival Co. & by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 113,163,718 shares of the company’s stock worth $2,098,055,000 after buying an additional 559,038 shares during the period. Geode Capital Management LLC lifted its position in shares of Carnival Co. & by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 20,504,071 shares of the company’s stock worth $207,642,000 after buying an additional 469,764 shares during the period. Two Sigma Advisers LP raised its position in Carnival Co. & by 27.6% in the 1st quarter. Two Sigma Advisers LP now owns 11,197,800 shares of the company’s stock valued at $113,658,000 after purchasing an additional 2,423,700 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Carnival Co. & by 8.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,279,978 shares of the company’s stock valued at $74,797,000 after purchasing an additional 736,456 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of Carnival Co. & by 177.5% during the second quarter. Nuveen Asset Management LLC now owns 8,132,897 shares of the company’s stock worth $153,142,000 after acquiring an additional 5,201,843 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Co. & Trading Down 4.9 %

The company has a market cap of $18.29 billion, a P/E ratio of -137.82 and a beta of 2.54. The company has a quick ratio of 0.41, a current ratio of 0.46 and a debt-to-equity ratio of 4.14. The business has a 50-day moving average price of $16.03 and a two-hundred day moving average price of $15.33.

Carnival Co. & (NYSE:CCL) last released its earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.42 billion. Carnival Co. & had a positive return on equity of 0.02% and a negative net margin of 0.34%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.55) earnings per share. On average, analysts predict that Carnival Co. & plc will post 0.99 EPS for the current year.

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.