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

Carnival Co. & plc (NYSE:CCL) gapped down prior to trading 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 trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Loop Capital assumed coverage on Carnival Co. & in a research note on Tuesday, February 4th. They issued a “hold” rating and a $25.00 price objective on the stock. Mizuho lifted their price objective on Carnival Co. & from $26.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. William Blair reissued an “outperform” rating on shares of Carnival Co. & in a research report on Monday, March 10th. Wells Fargo & Company boosted their price target on Carnival Co. & from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Sanford C. Bernstein assumed coverage on Carnival Co. & in a research report 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 issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.89.

Carnival Co. & Stock Down 0.1 %

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 has a market capitalization of $24.65 billion, a P/E ratio of 15.20, a P/E/G ratio of 0.73 and a beta of 2.66. The stock has a fifty day moving average price of $24.25 and a two-hundred day moving average price of $22.91.

Carnival Co. & (NYSE:CCL) last issued its quarterly earnings results on Friday, March 21st. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. Carnival Co. & had a return on equity of 24.13% and a net margin of 7.66%. The business had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.74 billion. During the same period in the previous year, the business earned ($0.14) EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. Research analysts forecast that Carnival Co. & plc will post 1.77 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Measured Risk Portfolios Inc. bought a new position in Carnival Co. & during the 4th quarter worth $29,000. Crewe Advisors LLC grew its stake in Carnival Co. & by 275.8% during the 4th quarter. Crewe Advisors LLC now owns 1,210 shares of the company’s stock worth $30,000 after buying an additional 888 shares during the last quarter. Orion Capital Management LLC bought a new position in Carnival Co. & during the 4th quarter worth $30,000. New Wave Wealth Advisors LLC bought a new position in Carnival Co. & during the 4th quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new position in Carnival Co. & during the 4th quarter worth $34,000. 67.19% of the stock is currently owned by institutional investors.

About Carnival Co. &

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.