Carnival Co. & (NYSE:CCL) Stock Price Down 6.3% - Here's What Happened

Carnival Co. & plc (NYSE:CCL - Get Free Report) shares traded down 6.3% during mid-day trading on Tuesday . The company traded as low as $21.44 and last traded at $21.79. 18,712,824 shares were traded during mid-day trading, a decline of 28% from the average session volume of 26,006,549 shares. The stock had previously closed at $23.26.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Carnival Co. & from $32.00 to $34.00 and gave the company a "buy" rating in a report on Monday, December 23rd. Wells Fargo & Company increased their price target on shares of Carnival Co. & from $25.00 to $30.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Bank of America increased their price objective on shares of Carnival Co. & from $24.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on shares of Carnival Co. & in a research note on Tuesday, November 26th. They issued a "market perform" rating and a $26.00 price objective on the stock. Finally, Citigroup increased their price objective 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $27.11.

Carnival Co. & Price Performance

The company has a market cap of $24.00 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 0.73 and a beta of 2.66. The business's 50 day moving average price is $25.07 and its 200-day moving average price is $22.68. The company has a quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 2.80.

Carnival Co. & (NYSE:CCL - Get Free Report) last released its quarterly earnings results on Friday, December 20th. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.06. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the company earned ($0.07) earnings per share. The business's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, analysts forecast that Carnival Co. & plc will post 1.77 earnings per share for the current year.

Institutional Trading of Carnival Co. &

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Carnival Co. & by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 117,095,566 shares of the company's stock worth $2,918,022,000 after acquiring an additional 4,458,329 shares during the last quarter. State Street Corp grew its position in shares of Carnival Co. & by 5.9% during the third quarter. State Street Corp now owns 41,426,562 shares of the company's stock worth $765,563,000 after acquiring an additional 2,301,906 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Carnival Co. & by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 25,228,416 shares of the company's stock worth $627,053,000 after acquiring an additional 1,201,256 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Carnival Co. & by 33.7% during the fourth quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company's stock worth $569,423,000 after acquiring an additional 5,761,489 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Carnival Co. & by 4.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 18,649,543 shares of the company's stock worth $464,747,000 after acquiring an additional 877,694 shares during the last quarter. Institutional investors 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.