Carnival Co. & (NYSE:CCL) Shares Gap Down – Here’s What Happened

Carnival Co. & plc (NYSE:CCL)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $21.20, but opened at $20.39. Carnival Co. & shares last traded at $20.38, with a volume of 13,355,825 shares.

Analyst Ratings Changes

CCL has been the subject of a number of research reports. Barclays upped their price objective on shares of Carnival Co. & from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Citigroup boosted their target price on shares of Carnival Co. & from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. The Goldman Sachs Group boosted their target price on shares of Carnival Co. & from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley upped their price objective on shares of Carnival Co. & from $20.00 to $22.00 and gave the company an “underweight” rating in a report on Wednesday, January 8th. Finally, Stifel Nicolaus cut their price objective on shares of Carnival Co. & from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.89.

Carnival Co. & Trading Down 0.9 %

The firm has a market cap of $24.47 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 0.73 and a beta of 2.66. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 2.80. The company has a 50-day simple moving average of $24.19 and a 200 day simple moving average of $22.99.

Carnival Co. & (NYSE:CCL) last announced its earnings results on Friday, March 21st. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. Carnival Co. & had a return on equity of 24.13% and a net margin of 7.66%. The firm had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.74 billion. During the same quarter last year, the firm posted ($0.14) EPS. The business’s revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts forecast that Carnival Co. & plc will post 1.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in Carnival Co. & by 186.6% in the 4th quarter. FMR LLC now owns 9,898,906 shares of the company’s stock valued at $246,681,000 after purchasing an additional 6,444,444 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Carnival Co. & by 33.7% during the 4th quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company’s stock valued at $569,423,000 after acquiring an additional 5,761,489 shares during the period. Vanguard Group Inc. boosted its holdings in Carnival Co. & by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 117,095,566 shares of the company’s stock valued at $2,918,022,000 after acquiring an additional 4,458,329 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in shares of Carnival Co. & in the 4th quarter valued at about $100,845,000. Finally, AQR Capital Management LLC boosted its stake in shares of Carnival Co. & by 228.8% in the 4th quarter. AQR Capital Management LLC now owns 4,689,305 shares of the company’s stock valued at $116,857,000 after buying an additional 3,263,204 shares during the period. Hedge funds and other institutional investors own 67.19% of the company’s stock.

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.