Carnival Co. & (NYSE:CCL) Trading Down 8.6% – Should You Sell?

Carnival Co. & plc (NYSE:CCL) shares dropped 8.6% on Thursday . The company traded as low as $23.42 and last traded at $23.85. Approximately 14,139,885 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 19,194,982 shares. The stock had previously closed at $26.09.

Analyst Upgrades and Downgrades

CCL has been the topic of a number of research analyst reports. Citigroup raised their price target on shares of Carnival Co. & from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Stifel Nicolaus raised their price target on shares of Carnival Co. & from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. The Goldman Sachs Group raised their price target on shares of Carnival Co. & from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley raised their price target on shares of Carnival Co. & from $20.00 to $22.00 and gave the company an “underweight” rating in a research note on Wednesday, January 8th. Finally, Bank of America raised their price objective on shares of Carnival Co. & from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Carnival Co. & has an average rating of “Moderate Buy” and an average target price of $27.11.

Carnival Co. & Trading Down 5.6 %

The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.25 and a current ratio of 0.29. The firm’s fifty day simple moving average is $25.64 and its 200-day simple moving average is $22.13. The stock has a market cap of $26.99 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 0.73 and a beta of 2.64.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings data on Friday, December 20th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.08 by $0.06. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.94 billion. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS. Equities research analysts expect that Carnival Co. & plc will post 1.77 EPS for the current fiscal year.

Institutional Trading of Carnival Co. &

Several large investors have recently modified their holdings of the stock. Hartford Investment Management Co. grew its position in shares of Carnival Co. & by 0.6% during the 4th quarter. Hartford Investment Management Co. now owns 64,231 shares of the company’s stock worth $1,601,000 after buying an additional 387 shares during the period. Prestige Wealth Management Group LLC grew its position in shares of Carnival Co. & by 23.1% during the 4th quarter. Prestige Wealth Management Group LLC now owns 2,173 shares of the company’s stock worth $54,000 after buying an additional 408 shares during the period. Encompass Wealth Advisors LLC grew its position in Carnival Co. & by 2.9% in the 3rd quarter. Encompass Wealth Advisors LLC now owns 16,079 shares of the company’s stock valued at $297,000 after purchasing an additional 451 shares during the period. Avidian Wealth Enterprises LLC grew its position in Carnival Co. & by 4.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 10,698 shares of the company’s stock valued at $267,000 after purchasing an additional 468 shares during the period. Finally, Sound View Wealth Advisors Group LLC grew its position in Carnival Co. & by 3.3% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 14,917 shares of the company’s stock valued at $372,000 after purchasing an additional 475 shares during the period. 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.