Carnival Co. & (NYSE:CCL) Research Coverage Started at StockNews.com

Posted by Cynthia Vaughn on Mar 19th, 2023

StockNews.com began coverage on shares of Carnival Co. & (NYSE:CCL – Get Rating) in a report released on Thursday morning. The firm issued a sell rating on the stock.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. restated a neutral rating and set a $13.00 price target on shares of Carnival Co. & in a research report on Tuesday, December 6th. Citigroup increased their price target on Carnival Co. & from $9.00 to $13.00 and gave the stock a neutral rating in a research report on Tuesday, January 31st. Credit Suisse Group decreased their price target on Carnival Co. & from $19.00 to $16.00 and set an outperform rating on the stock in a research report on Thursday, December 22nd. Morgan Stanley increased their price target on Carnival Co. & from $6.00 to $7.00 and gave the stock an underweight rating in a research report on Tuesday, January 10th. Finally, Wells Fargo & Company reduced their price objective on Carnival Co. & from $10.00 to $9.00 and set an underweight rating on the stock in a report on Thursday, December 22nd. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Carnival Co. & has a consensus rating of Hold and a consensus target price of $11.71.

Carnival Co. & Stock Down 5.3 %

CCL stock opened at $8.55 on Thursday. Carnival Co. & has a 1-year low of $6.11 and a 1-year high of $21.50. The business’s 50 day moving average is $10.71 and its 200-day moving average is $9.53. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 4.52.

Carnival Co. & (NYSE:CCL – Get Rating) last released its quarterly earnings data on Wednesday, December 21st. The company reported ($0.85) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.04. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.96 billion. Carnival Co. & had a negative return on equity of 64.76% and a negative net margin of 50.07%. On average, sell-side analysts expect that Carnival Co. & will post -0.18 earnings per share for the current year.

Insider Activity

In other news, CFO David Bernstein sold 107,119 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $11.08, for a total value of $1,186,878.52. Following the transaction, the chief financial officer now owns 286,041 shares of the company’s stock, valued at approximately $3,169,334.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 11.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CCL. American Century Companies Inc. raised its stake in Carnival Co. & by 13.3% during the 1st quarter. American Century Companies Inc. now owns 33,016 shares of the company’s stock worth $667,000 after buying an additional 3,869 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Carnival Co. & by 7.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 108,222 shares of the company’s stock worth $2,188,000 after buying an additional 7,248 shares during the period. Yousif Capital Management LLC raised its stake in Carnival Co. & by 3.4% during the 1st quarter. Yousif Capital Management LLC now owns 137,825 shares of the company’s stock worth $2,787,000 after buying an additional 4,536 shares during the period. Dimensional Fund Advisors LP raised its stake in Carnival Co. & by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,734,230 shares of the company’s stock worth $95,697,000 after buying an additional 93,169 shares during the period. Finally, Aviva PLC raised its stake in Carnival Co. & by 25.5% during the 1st quarter. Aviva PLC now owns 152,741 shares of the company’s stock worth $3,088,000 after buying an additional 31,037 shares during the period. Institutional investors and hedge funds own 49.87% of the company’s stock.

Carnival Co. & Company Profile

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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.