Carnival Co. & (NYSE:CCL) Shares Down 5.8% on Analyst Downgrade

Shares of Carnival Co. & plc (NYSE:CCLGet Free Report) dropped 5.8% on Wednesday after Truist Financial lowered their price target on the stock from $18.00 to $17.00. Truist Financial currently has a hold rating on the stock. Carnival Co. & traded as low as $14.75 and last traded at $14.75. Approximately 6,388,530 shares traded hands during trading, a decline of 79% from the average daily volume of 30,519,922 shares. The stock had previously closed at $15.65.

CCL has been the topic of several other research reports. Susquehanna lowered their target price on Carnival Co. & from $23.00 to $22.00 and set a “positive” rating on the stock in a research note on Monday, March 25th. William Blair reiterated an “outperform” rating on shares of Carnival Co. & in a report on Monday, April 22nd. Barclays lifted their price target on Carnival Co. & from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Argus reduced their price target on Carnival Co. & from $23.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 1st. Finally, UBS Group boosted their target price on Carnival Co. & from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. One equities 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.53.

Read Our Latest Report on CCL

Institutional Trading of Carnival Co. &

A number of large investors have recently bought and sold shares of the stock. WealthPlan Investment Management LLC acquired a new position in shares of Carnival Co. & during the third quarter valued at $314,000. NBC Securities Inc. bought a new position in Carnival Co. & during the third quarter worth about $53,000. Ieq Capital LLC lifted its holdings in Carnival Co. & by 2.9% during the 3rd quarter. Ieq Capital LLC now owns 37,290 shares of the company’s stock valued at $512,000 after purchasing an additional 1,045 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Carnival Co. & by 697.9% during the 3rd quarter. Victory Capital Management Inc. now owns 308,989 shares of the company’s stock worth $4,239,000 after buying an additional 270,262 shares during the last quarter. Finally, Illinois Municipal Retirement Fund bought a new stake in shares of Carnival Co. & during the third quarter worth approximately $462,000. 67.19% of the stock is currently owned by institutional investors.

Carnival Co. & Stock Down 4.3 %

The stock has a fifty day moving average price of $15.21 and a two-hundred day moving average price of $15.96. The company has a market cap of $16.80 billion, a price-to-earnings ratio of 56.73 and a beta of 2.53. The company has a quick ratio of 0.32, a current ratio of 0.36 and a debt-to-equity ratio of 4.27.

Carnival Co. & (NYSE:CCLGet Free Report) last released its earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.42 billion. Carnival Co. & had a return on equity of 7.75% and a net margin of 1.79%. The company’s revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.55) EPS. As a group, sell-side analysts expect that Carnival Co. & plc will post 1.02 EPS for the current year.

Carnival Co. & Company Profile

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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.

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