Carnival Co. & (NYSE:CCL) Stock Price Down 5.2% - What's Next?

Carnival Co. & plc (NYSE:CCL - Get Free Report) shares dropped 5.2% during mid-day trading on Monday . The company traded as low as $25.35 and last traded at $25.41. Approximately 9,335,621 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 28,630,061 shares. The stock had previously closed at $26.80.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Truist Financial lifted their target price on Carnival Co. & from $20.00 to $29.00 and gave the company a "hold" rating in a research report on Monday, December 2nd. Citigroup upped their price objective on Carnival Co. & from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Monday. The Goldman Sachs Group lifted their price objective on shares of Carnival Co. & from $24.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Mizuho upped their price target on shares of Carnival Co. & from $26.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, December 5th. Finally, Stifel Nicolaus increased their price target on Carnival Co. & from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Carnival Co. & has an average rating of "Moderate Buy" and a consensus price target of $26.85.

Carnival Co. & Stock Down 4.0 %

The business's 50 day moving average is $24.03 and its 200-day moving average is $19.53. The company has a debt-to-equity ratio of 3.10, a current ratio of 0.30 and a quick ratio of 0.26. The company has a market cap of $29.70 billion, a PE ratio of 22.97 and a beta of 2.67.

Carnival Co. & (NYSE:CCL - Get Free Report) last announced its quarterly earnings results on Friday, December 20th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.08 by $0.06. Carnival Co. & had a net margin of 6.39% and a return on equity of 22.30%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period in the prior year, the firm posted ($0.07) earnings per share. The firm's revenue was up 10.0% on a year-over-year basis. As a group, analysts predict that Carnival Co. & plc will post 1.33 EPS for the current year.

Insider Buying and Selling

In other news, Director Sir Jonathon Band sold 17,500 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $21.72, for a total transaction of $380,100.00. Following the sale, the director now owns 65,789 shares of the company's stock, valued at $1,428,937.08. The trade was a 21.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.00% of the company's stock.

Institutional Investors Weigh In On Carnival Co. &

A number of institutional investors and hedge funds have recently bought and sold shares of CCL. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Carnival Co. & by 72.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,870,760 shares of the company's stock valued at $53,052,000 after purchasing an additional 1,204,500 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of Carnival Co. & in the 3rd quarter valued at $1,140,000. Commonwealth Equity Services LLC increased its holdings in Carnival Co. & by 1.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,075,201 shares of the company's stock valued at $75,310,000 after purchasing an additional 39,491 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Carnival Co. & by 10.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 264,728 shares of the company's stock valued at $4,892,000 after buying an additional 24,198 shares during the period. Finally, Cerity Partners LLC boosted its holdings in Carnival Co. & by 181.7% in the 3rd quarter. Cerity Partners LLC now owns 123,815 shares of the company's stock worth $2,288,000 after acquiring an additional 79,857 shares during the period. Hedge funds and other institutional investors own 67.19% of the company's stock.

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.