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

Carnival Co. & plc (NYSE:CCL)’s share price fell 8.6% during trading on Thursday . The company traded as low as $23.42 and last traded at $23.85. 14,139,885 shares were traded during 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 Analyst Weigh In

A number of research analysts have issued reports on the company. Mizuho boosted their target price on Carnival Co. & from $26.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. The Goldman Sachs Group upped 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. Stifel Nicolaus upped their price objective on Carnival Co. & from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Bank of America upped their price objective on Carnival Co. & from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Barclays upped their target price on Carnival Co. & from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Carnival Co. & currently has an average rating of “Moderate Buy” and a consensus target price of $27.11.

Carnival Co. & Stock Performance

The stock has a market capitalization of $28.52 billion, a P/E ratio of 17.51, a PEG ratio of 0.77 and a beta of 2.64. 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 company’s fifty day simple moving average is $25.73 and its two-hundred day simple moving average is $22.05.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Hartford Investment Management Co. increased its holdings in shares of Carnival Co. & by 0.6% during the fourth quarter. Hartford Investment Management Co. now owns 64,231 shares of the company’s stock worth $1,601,000 after purchasing an additional 387 shares during the period. Prestige Wealth Management Group LLC boosted its position in shares of Carnival Co. & by 23.1% during the 4th quarter. Prestige Wealth Management Group LLC now owns 2,173 shares of the company’s stock worth $54,000 after acquiring an additional 408 shares in the last quarter. Encompass Wealth Advisors LLC boosted its position in shares of Carnival Co. & by 2.9% during the 3rd quarter. Encompass Wealth Advisors LLC now owns 16,079 shares of the company’s stock worth $297,000 after acquiring an additional 451 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Carnival Co. & by 4.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 10,698 shares of the company’s stock worth $267,000 after acquiring an additional 468 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC boosted its position in shares of Carnival Co. & by 3.3% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 14,917 shares of the company’s stock worth $372,000 after acquiring an additional 475 shares in the last quarter. 67.19% of the stock is owned by institutional investors.

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.