Carnival Co. & (NYSE:CCL) Shares Down 1.4% – Time to Sell?

Carnival Co. & plc (NYSE:CCL)’s share price was down 1.4% during trading on Wednesday . The company traded as low as $21.10 and last traded at $21.15. Approximately 4,278,390 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 30,045,229 shares. The stock had previously closed at $21.45.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Truist Financial boosted their price objective on Carnival Co. & from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Hsbc Global Res raised Carnival Co. & to a “moderate sell” rating in a research report on Tuesday, September 3rd. Mizuho boosted their target price on shares of Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Barclays increased their price target on shares of Carnival Co. & from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, Citigroup increased their target price on shares of Carnival Co. & from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.53.

Carnival Co. & Trading Down 2.2 %

The firm has a market cap of $23.55 billion, a P/E ratio of 32.54 and a beta of 2.69. The company’s fifty day moving average price is $17.85 and its two-hundred day moving average price is $16.64. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 3.10.

Carnival Co. & (NYSE:CCL) last issued its quarterly earnings data on Monday, September 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.10. Carnival Co. & had a return on equity of 22.30% and a net margin of 6.39%. The firm had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, sell-side analysts predict that Carnival Co. & plc will post 1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Carnival Co. & during the 2nd quarter valued at about $466,838,000. Marshall Wace LLP lifted its holdings in Carnival Co. & by 510.5% in the second quarter. Marshall Wace LLP now owns 10,331,092 shares of the company’s stock valued at $193,398,000 after buying an additional 8,638,865 shares during the period. Renaissance Technologies LLC lifted its holdings in Carnival Co. & by 43.6% in the second quarter. Renaissance Technologies LLC now owns 9,585,200 shares of the company’s stock valued at $179,435,000 after buying an additional 2,911,100 shares during the period. International Assets Investment Management LLC boosted its stake in Carnival Co. & by 2,400.1% in the third quarter. International Assets Investment Management LLC now owns 3,010,189 shares of the company’s stock valued at $556,280,000 after acquiring an additional 2,889,785 shares during the last quarter. Finally, Goldentree Asset Management LP acquired a new stake in Carnival Co. & during the 1st quarter worth $31,917,000. 67.19% of the stock is currently owned by institutional investors.

About Carnival Co. &

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.