Carnival Co. & (NYSE:CCL) Stock Price Down 3.8%

Carnival Co. & plc (NYSE:CCL) shares were down 3.8% during mid-day trading on Monday . The stock traded as low as $17.86 and last traded at $18.00. Approximately 7,583,409 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 31,294,563 shares. The stock had previously closed at $18.72.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CCL shares. Bank of America upped their price target on shares of Carnival Co. & from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday. William Blair reiterated an “outperform” rating on shares of Carnival Co. & in a research note on Monday, April 22nd. JPMorgan Chase & Co. boosted their target price on shares of Carnival Co. & from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Carnival Co. & from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, June 26th. Finally, Truist Financial lowered their target price on shares of Carnival Co. & from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Carnival Co. & currently has a consensus rating of “Moderate Buy” and an average target price of $21.83.

Carnival Co. & Stock Performance

The company has a market cap of $19.64 billion, a P/E ratio of 27.17 and a beta of 2.68. The company has a quick ratio of 0.24, a current ratio of 0.28 and a debt-to-equity ratio of 3.99. The stock’s 50-day moving average price is $15.64 and its 200 day moving average price is $16.11.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings data on Tuesday, June 25th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.12. Carnival Co. & had a net margin of 3.86% and a return on equity of 15.22%. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the company posted ($0.31) earnings per share. Carnival Co. &’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, research analysts expect that Carnival Co. & plc will post 1.19 EPS for the current fiscal year.

Institutional Trading of Carnival Co. &

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Keynote Financial Services LLC bought a new stake in shares of Carnival Co. & in the 1st quarter valued at about $349,000. EverSource Wealth Advisors LLC grew its position in shares of Carnival Co. & by 5,317.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 112,259 shares of the company’s stock valued at $1,834,000 after purchasing an additional 110,187 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Carnival Co. & by 72.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 246,026 shares of the company’s stock valued at $4,223,000 after purchasing an additional 103,501 shares during the period. Tactive Advisors LLC acquired a new position in shares of Carnival Co. & in the 1st quarter valued at approximately $232,000. Finally, Goldentree Asset Management LP acquired a new position in shares of Carnival Co. & in the 1st quarter valued at approximately $31,917,000. 67.19% of the stock is owned by institutional investors.

Carnival Co. & Company Profile

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.