Carnival (NYSE:CCL) Trading Down 4.5% – Should You Sell?

Carnival Corporation (NYSE:CCL) shares dropped 4.5% on Thursday . The company traded as low as $27.45 and last traded at $27.5090. Approximately 7,719,226 shares were traded during trading, a decline of 68% from the average daily volume of 24,300,805 shares. The stock had previously closed at $28.82.

Analyst Ratings Changes

CCL has been the topic of a number of research reports. Truist Financial reduced their target price on shares of Carnival from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 24th. Weiss Ratings raised shares of Carnival from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 30th. Sanford C. Bernstein dropped their price target on shares of Carnival from $33.00 to $28.70 and set a “market perform” rating on the stock in a research report on Monday, March 30th. Bank of America boosted their price target on shares of Carnival from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, William Blair restated an “outperform” rating on shares of Carnival in a research report on Tuesday, March 3rd. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.99.

Carnival Stock Down 5.1%

The stock has a market cap of $33.89 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 1.26 and a beta of 2.48. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 1.82. The stock’s 50-day moving average price is $28.19 and its 200-day moving average price is $28.44.

Carnival (NYSE:CCL) last issued its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.13 billion. Carnival had a net margin of 11.48% and a return on equity of 26.92%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 EPS. On average, sell-side analysts expect that Carnival Corporation will post 1.77 earnings per share for the current year.

Insider Activity

In related news, Director Sir Jonathon Band sold 11,988 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total transaction of $313,965.72. Following the transaction, the director owned 52,601 shares in the company, valued at $1,377,620.19. The trade was a 18.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. CVA Family Office LLC raised its holdings in shares of Carnival by 15.6% during the 4th quarter. CVA Family Office LLC now owns 2,597 shares of the company’s stock worth $79,000 after acquiring an additional 350 shares in the last quarter. Net Worth Advisory Group raised its holdings in shares of Carnival by 2.9% during the 4th quarter. Net Worth Advisory Group now owns 12,383 shares of the company’s stock worth $378,000 after acquiring an additional 354 shares in the last quarter. Triad Wealth Partners LLC raised its holdings in Carnival by 2.1% during the 4th quarter. Triad Wealth Partners LLC now owns 17,464 shares of the company’s stock valued at $533,000 after buying an additional 358 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in Carnival by 3.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 10,540 shares of the company’s stock worth $322,000 after buying an additional 358 shares during the last quarter. Finally, StoneX Group Inc. lifted its position in Carnival by 4.9% in the fourth quarter. StoneX Group Inc. now owns 7,935 shares of the company’s stock worth $242,000 after buying an additional 368 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Company Profile

Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company’s core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.