Atomi Financial Group Inc. Reduces Stake in Carnival Co. & plc

Atomi Financial Group Inc. has recently lowered its investment in Carnival Co. & plc (NYSE:CCL) by approximately 29.7% during the third quarter, as revealed in the firm’s latest filing with the Securities and Exchange Commission. Post this reduction, Atomi Financial Group held 20,907 shares of Carnival Co., having sold 8,826 shares in this period. As of the most recent report, the value of Atomi Financial Group's stake in Carnival Co. was around $386,000.

Other institutional investors have also made adjustments to their holdings in Carnival Co. Recently, Richardson Capital Management LLC entered into a new investment in Carnival Co. during the first quarter, valued at roughly $26,000. Similarly, Family Firm Inc. and Hantz Financial Services Inc. initiated new positions in the second quarter, both valued at approximately $26,000 and $30,000, respectively. BNP Paribas established a fresh position valued at about $32,000 in the first quarter, and ORG Partners LLC also acquired new shares in the second quarter, valued at about $37,000. Collectively, institutional investors and hedge funds own around 67.19% of Carnival Co.’s stock.

Analysis from Wall Street Experts

Several financial research firms have provided insights on Carnival Co. Tigress Financial has recently increased its price target for Carnival Co. shares from $25.00 to $28.00, designating it with a "buy" rating. In addition, Barclays raised its price target from $25.00 to $26.00, granting an "overweight" rating. Truist Financial reported a price target increase from $17.00 to $20.00, labeling the stock with a "hold" rating. Citigroup also raised its target from $25.00 to $28.00, maintaining a "buy" rating on the shares. Finally, JPMorgan Chase & Co. adjusted its price target from $23.00 to $25.00, continuing to rate the shares as "overweight." Out of the analysts, one issued a sell recommendation, two provided hold ratings, while fourteen analysts rated the stock as a buy. According to MarketBeat data, Carnival Co. currently holds an average rating of "Moderate Buy" with a consensus target price of $23.53.

Carnival Co. & plc's Stock Performance

As of Friday, the stock of Carnival Co. (NYSE:CCL) opened at $20.43. The company's market capitalization stands at approximately $23.58 billion, with a price-to-earnings (PE) ratio of 18.24 and a beta of 2.69. Carnival Co. has recorded a 52-week low of $10.84 and a high of $20.81. The average price for the company over the last 50 days is $16.80, and the average over the last 200 days is $16.36. Financially, the company has a quick ratio of 0.26, a current ratio of 0.30, and a debt-to-equity ratio of 3.10.

Carnival Co. & plc most recently reported its quarterly earnings on September 30th, where it revealed earnings per share (EPS) of $1.27, which surpassed analysts' expectations of $1.17 by $0.10. The firm reported revenues of $7.90 billion for the quarter, exceeding analyst predictions of $7.82 billion. Carnival Co. achieved a return on equity of 22.30% and a net margin of 6.39%. Compared to the same quarter in the previous year, Carnival Co. experienced a 15.2% growth in quarterly revenue. In the prior year’s same quarter, the company reported $0.86 EPS. Analysts anticipate that Carnival Co. & plc will deliver an EPS of 1.33 for the current fiscal year.

About Carnival Co. & plc

Carnival Corporation & plc is engaged in providing leisure travel services across North America, Australia, Europe, Asia, and other international markets. The company operates through four primary segments: North America Cruise Operations, Europe Cruise Operations, Cruise Support, and Tours and Other Services. Additionally, Carnival Co. runs port destinations, owns private islands, and manages a solar energy facility, as well as operating hotels, lodges, and motor coaches.

Finance, Stocks, Investment