Carnival (NYSE:CCL) Shares Down 6.9% - Here's What Happened

Key Points

• Carnival Corporation shares fell by 6.9% during trading, reaching a low of $26.34, reflecting a significant volume decrease of 56% compared to its average daily trading volume.
• Despite the drop, several analysts have raised their target prices for Carnival, with a consensus price target of $33.00 and ratings ranging from "Strong Buy" to "Hold".
• Carnival reported its latest quarterly earnings, beating estimates with $1.43 EPS and revenues of $8.15 billion, a 3.3% increase compared to the same quarter last year.

Carnival Corporation (NYSE:CCL - Get Free Report) shares were down 6.9% during trading on Tuesday . The stock traded as low as $26.34 and last traded at $26.7170. Approximately 10,074,444 shares traded hands during trading, a decline of 56% from the average daily volume of 23,139,484 shares. The stock had previously closed at $28.71.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CCL shares. Susquehanna raised their target price on shares of Carnival from $30.00 to $35.00 and gave the stock a "positive" rating in a report on Tuesday, September 30th. Truist Financial lifted their price objective on shares of Carnival from $27.00 to $31.00 and gave the company a "hold" rating in a research note on Monday, July 21st. Stifel Nicolaus boosted their target price on shares of Carnival from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. UBS Group set a $35.00 target price on shares of Carnival and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Finally, Morgan Stanley boosted their target price on shares of Carnival from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.00.

Carnival Stock Down 8.9%

The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.10. The firm has a market cap of $30.53 billion, a P/E ratio of 13.61, a PEG ratio of 0.57 and a beta of 2.68. The stock's 50-day simple moving average is $30.03 and its 200 day simple moving average is $27.06.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings results on Monday, September 29th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.32 by $0.11. The business had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.09 billion. Carnival had a net margin of 10.07% and a return on equity of 27.86%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 earnings per share. Carnival has set its Q4 2025 guidance at 0.230-0.230 EPS. FY 2025 guidance at 2.140-2.140 EPS. As a group, research analysts forecast that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Carnival

A number of institutional investors and hedge funds have recently made changes to their positions in CCL. State of Wyoming raised its holdings in shares of Carnival by 56.2% in the 3rd quarter. State of Wyoming now owns 12,653 shares of the company's stock worth $366,000 after acquiring an additional 4,553 shares during the last quarter. Convergence Investment Partners LLC raised its holdings in shares of Carnival by 26.1% in the 3rd quarter. Convergence Investment Partners LLC now owns 32,929 shares of the company's stock worth $952,000 after acquiring an additional 6,824 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Carnival by 13.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 189,911 shares of the company's stock worth $5,815,000 after acquiring an additional 22,795 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in shares of Carnival by 22.7% in the 3rd quarter. Mediolanum International Funds Ltd now owns 360,005 shares of the company's stock worth $10,584,000 after acquiring an additional 66,650 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Carnival by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,213,493 shares of the company's stock valued at $35,082,000 after buying an additional 12,182 shares during the last quarter. Institutional investors own 67.19% of the company's stock.

Carnival 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.

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