Carnival Co. & (NYSE:CCL) Shares Gap Down – Here’s What Happened

Carnival Co. & plc (NYSE:CCL) gapped down before the market opened on Friday . The stock had previously closed at $21.20, but opened at $20.39. Carnival Co. & shares last traded at $20.38, with a volume of 13,355,825 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CCL shares. Barclays lifted their price objective on shares of Carnival Co. & from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Mizuho lifted their price objective on shares of Carnival Co. & from $26.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Sanford C. Bernstein started coverage on shares of Carnival Co. & in a research report on Tuesday, November 26th. They set a “market perform” rating and a $26.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Carnival Co. & from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of Carnival Co. & from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.89.

Carnival Co. & Price Performance

The company has a quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 2.80. The firm’s 50 day simple moving average is $24.19 and its 200 day simple moving average is $22.99. The company has a market capitalization of $24.47 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 0.73 and a beta of 2.66.

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

Institutional Trading of Carnival Co. &

A number of large investors have recently made changes to their positions in CCL. Empowered Funds LLC boosted its stake in shares of Carnival Co. & by 8.8% during the third quarter. Empowered Funds LLC now owns 16,975 shares of the company’s stock valued at $314,000 after purchasing an additional 1,367 shares during the period. Caprock Group LLC purchased a new stake in shares of Carnival Co. & during the third quarter valued at $201,000. Prospera Financial Services Inc boosted its stake in shares of Carnival Co. & by 4.0% during the third quarter. Prospera Financial Services Inc now owns 42,047 shares of the company’s stock valued at $777,000 after purchasing an additional 1,598 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Carnival Co. & by 3.4% during 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 during the period. Finally, Avior Wealth Management LLC boosted its stake in shares of Carnival Co. & by 50.7% during 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 period. 67.19% of the stock is owned by hedge funds and other institutional investors.

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.