Carnival Co. & (NYSE:CCL) Stock Price Down 2.2% After Analyst Downgrade

Carnival Co. & plc (NYSE:CCL)’s stock price dropped 2.2% during trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $26.00 to $25.00. Stifel Nicolaus currently has a buy rating on the stock. Carnival Co. & traded as low as $16.73 and last traded at $16.81. Approximately 6,753,433 shares changed hands during trading, a decline of 79% from the average daily volume of 31,947,682 shares. The stock had previously closed at $17.19.

Several other research analysts have also issued reports on the company. Macquarie increased their price target on Carnival Co. & from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday. Citigroup lifted their price target on shares of Carnival Co. & from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Mizuho started coverage on shares of Carnival Co. & in a research note on Tuesday. They issued a “buy” rating and a $21.00 price objective on the stock. Wells Fargo & Company upgraded shares of Carnival Co. & from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a research note on Friday, January 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Carnival Co. & from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Carnival Co. & currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.42.

Insider Activity at Carnival Co. &

In other Carnival Co. & news, CFO David Bernstein sold 153,995 shares of Carnival Co. & stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $15.37, for a total transaction of $2,366,903.15. Following the completion of the transaction, the chief financial officer now owns 181,981 shares of the company’s stock, valued at approximately $2,797,047.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Friedenthal Financial bought a new stake in shares of Carnival Co. & during the 4th quarter valued at about $28,000. ICA Group Wealth Management LLC bought a new stake in Carnival Co. & during the fourth quarter valued at approximately $31,000. Farther Finance Advisors LLC grew its stake in Carnival Co. & by 59.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,792 shares of the company’s stock worth $34,000 after buying an additional 669 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Carnival Co. & by 67.2% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,838 shares of the company’s stock worth $34,000 after buying an additional 739 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Carnival Co. & by 66.7% during the 4th quarter. 1832 Asset Management L.P. now owns 2,000 shares of the company’s stock valued at $37,000 after buying an additional 800 shares in the last quarter. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Carnival Co. & Price Performance

The company has a quick ratio of 0.41, a current ratio of 0.46 and a debt-to-equity ratio of 4.14. The firm’s 50-day moving average is $16.03 and its 200-day moving average is $15.33. The company has a market capitalization of $18.29 billion, a PE ratio of -137.82 and a beta of 2.54.

Carnival Co. & (NYSE:CCL) last released its earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.42 billion. Carnival Co. & had a positive return on equity of 0.02% and a negative net margin of 0.34%. Carnival Co. &’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.55) EPS. Equities analysts predict that Carnival Co. & plc will post 0.99 earnings per share for the current fiscal year.

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.