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

Carnival Co. & (NYSE:CCL) had its price objective cut by Citigroup from $31.00 to $30.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

CCL has been the subject of several other reports. The Goldman Sachs Group lifted their target price on shares of Carnival Co. & from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Loop Capital decreased their price objective on shares of Carnival Co. & from $25.00 to $21.00 and set a “hold” rating for the company in a report on Monday. Sanford C. Bernstein began coverage on Carnival Co. & in a research note on Tuesday, November 26th. They set a “market perform” rating and a $26.00 target price on the stock. Truist Financial boosted their price target on Carnival Co. & from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Carnival Co. & in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Carnival Co. & currently has a consensus rating of “Moderate Buy” and an average target price of $26.72.

Carnival Co. & Price Performance

CCL stock opened at $21.46 on Monday. 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 50 day moving average price of $24.14 and a 200-day moving average price of $23.07. Carnival Co. & has a 52-week low of $13.78 and a 52-week high of $28.72. The firm has a market capitalization of $24.98 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.73 and a beta of 2.66.

Carnival Co. & (NYSE:CCL) last released its earnings results on Friday, March 21st. The company reported $0.13 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.74 billion. During the same period in the previous year, the company posted ($0.14) earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts forecast that Carnival Co. & will post 1.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. 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 valued at $1,601,000 after acquiring an additional 387 shares during the period. Prestige Wealth Management Group LLC lifted its position in Carnival Co. & by 23.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 2,173 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in Carnival Co. & by 4.6% during the fourth 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 in the last quarter. Sound View Wealth Advisors Group LLC grew its holdings in Carnival Co. & by 3.3% during the fourth 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. Finally, Wealthcare Advisory Partners LLC raised its stake in shares of Carnival Co. & by 1.1% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 49,108 shares of the company’s stock worth $1,224,000 after buying an additional 521 shares during the period. 67.19% of the stock is currently owned by 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.