Citigroup Has Lowered Expectations for Carnival Co. & (NYSE:CCL) Stock Price

Carnival Co. & (NYSE:CCL) had its target price decreased by Citigroup from $31.00 to $30.00 in a research note released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

CCL has been the subject of a number of other reports. Morgan Stanley increased their price target on Carnival Co. & from $20.00 to $22.00 and gave the stock an “underweight” rating in a report on Wednesday, January 8th. Loop Capital dropped their price target on shares of Carnival Co. & from $25.00 to $21.00 and set a “hold” rating for the company in a research report on Monday. Truist Financial upped their price objective on shares of Carnival Co. & from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Barclays lifted their target price on shares of Carnival Co. & from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Finally, Sanford C. Bernstein started coverage on Carnival Co. & in a research note on Tuesday, November 26th. They set a “market perform” rating and a $26.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Carnival Co. & presently has an average rating of “Moderate Buy” and an average target price of $26.94.

Carnival Co. & Price Performance

NYSE:CCL opened at $20.92 on Monday. The stock has a 50 day moving average price of $23.99 and a 200 day moving average price of $23.10. The stock has a market cap of $24.35 billion, a PE ratio of 15.05, a P/E/G ratio of 0.73 and a beta of 2.66. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.25 and a current ratio of 0.29. Carnival Co. & has a one year low of $13.78 and a one year high of $28.72.

Carnival Co. & (NYSE:CCL) last released its quarterly earnings data on Friday, March 21st. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.11. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. The firm had revenue of $5.81 billion during the quarter, compared to analysts’ expectations of $5.74 billion. During the same period last year, the business earned ($0.14) earnings per share. Carnival Co. &’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts expect that Carnival Co. & will post 1.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCL. Empowered Funds LLC increased its holdings in Carnival Co. & by 8.8% in the third quarter. Empowered Funds LLC now owns 16,975 shares of the company’s stock valued at $314,000 after buying an additional 1,367 shares during the last quarter. Caprock Group LLC acquired a new position in Carnival Co. & in the third quarter valued at approximately $201,000. PNC Financial Services Group Inc. boosted its holdings in Carnival Co. & by 3.4% in the third quarter. PNC Financial Services Group Inc. now owns 191,834 shares of the company’s stock valued at $3,545,000 after purchasing an additional 6,283 shares in the last quarter. Avior Wealth Management LLC increased its stake in Carnival Co. & by 50.7% in the third quarter. Avior Wealth Management LLC now owns 2,747 shares of the company’s stock valued at $51,000 after purchasing an additional 924 shares during the last quarter. Finally, Commerce Bank grew its position in shares of Carnival Co. & by 5.1% in the 3rd quarter. Commerce Bank now owns 21,485 shares of the company’s stock valued at $397,000 after buying an additional 1,035 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Co. & Company Profile

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.