Price Action Alert: What’s Ahead for Carnival Corp After Today’s Big Decline?

Price Action Alert: What's Ahead for Carnival Corp After Today's Big Decline?

The stock of Carnival Corp (NYSE:CCL) is a huge mover today! About 2.04 million shares traded hands. Carnival Corp (NYSE:CCL) has declined 2.34% since March 11, 2016 and is downtrending. It has underperformed by 7.80% the S&P500.
The move comes after 5 months negative chart setup for the $33.56 billion company. It was reported on Oct, 14 by We have $42.53 PT which if reached, will make NYSE:CCL worth $2.68 billion less.

Carnival Corp (NYSE:CCL) Ratings Coverage

Out of 20 analysts covering Carnival Corporation (NYSE:CCL), 12 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 60% are positive. Carnival Corporation has been the topic of 35 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Morgan Stanley maintained Carnival Corp (NYSE:CCL) rating on Thursday, May 26. Morgan Stanley has “Equal-Weight” rating and $54 price target. The firm has “Buy” rating given on Monday, October 5 by Citigroup. HSBC initiated the shares of CCL in a report on Wednesday, November 25 with “Buy” rating. As per Thursday, September 24, the company rating was maintained by Barclays Capital. Nomura upgraded the shares of CCL in a report on Wednesday, September 23 to “Buy” rating. The stock of Carnival Corp (NYSE:CCL) earned “Buy” rating by SunTrust on Thursday, March 31. The rating was maintained by JP Morgan with “Neutral” on Thursday, March 31. The rating was maintained by Goldman Sachs with “Neutral” on Wednesday, June 29. The rating was maintained by Stifel Nicolaus on Wednesday, September 23 with “Buy”. Deutsche Bank initiated Carnival Corp (NYSE:CCL) on Thursday, September 29 with “Hold” rating.

According to Zacks Investment Research, “Carnival Corporation & plc is the largest cruise company in the world, with a portfolio of 10 cruise brands in North America, Europe, Australia and Asia, comprised of Carnival Cruise Line, Holland America Line, Princess Cruises, Seabourn, AIDA Cruises, Costa Cruises, Cunard, P&O Cruises (Australia), P&O Cruises (UK) and Fathom.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in Q2 2016. Its down 0.08, from 1.03 in 2016Q1. The ratio fall, as 55 funds sold all Carnival Corp shares owned while 199 reduced positions. 53 funds bought stakes while 188 increased positions. They now own 409.94 million shares or 6.26% less from 437.31 million shares in 2016Q1.
Raymond James Trust Na accumulated 5,995 shares or 0.02% of the stock. Sumitomo Mitsui Asset Mgmt Co Limited last reported 0.04% of its portfolio in the stock. Advsr Cap Ltd Co accumulated 192,326 shares or 0.87% of the stock. Moreover, Gareth Morgan Investments Partnership has 0.28% invested in Carnival Corp (NYSE:CCL) for 65,769 shares. Credit Suisse Ag holds 834,697 shares or 0.04% of its portfolio. Employees Retirement Of Texas, a Texas-based fund reported 690,600 shares. New York State Common Retirement Fund accumulated 1.15 million shares or 0.07% of the stock. First Midwest Retail Bank Trust Division has 38,194 shares for 0.21% of their US portfolio. Moreover, Hs Management Limited Liability Company has 4.43% invested in Carnival Corp (NYSE:CCL) for 2.40 million shares. Loring Wolcott And Coolidge Fiduciary Advsr Ltd Liability Partnership Ma last reported 3,450 shares in the company. Morgan Stanley has invested 0.05% of its portfolio in Carnival Corp (NYSE:CCL). Synovus Corp has invested 0.01% of its portfolio in Carnival Corp (NYSE:CCL). Impala Asset Mgmt Limited Liability owns 34,024 shares or 0.11% of their US portfolio. Comml Bank Of Nova Scotia holds 8,982 shares or 0% of its portfolio. Concert Wealth Mgmt last reported 5,375 shares in the company.

Insider Transactions: Since October 3, 2016, the stock had 0 buys, and 1 insider sale for $198,213 net activity. Shares for $198,213 were sold by Bernstein David.

More recent Carnival Corp (NYSE:CCL) news were published by: which released: “Carnival Corp. posts $1.4 billion profit in third quarter” on September 26, 2016. Also published the news titled: “Carnival Corp.’s Chinese joint venture orders first cruise ships built in China” on September 23, 2016.‘s news article titled: “Carnival Corp. donates $2 million to new African-American museum in DC” with publication date: September 28, 2016 was also an interesting one.

CCL Company Profile

Carnival Corporation, incorporated on November 21, 1974, is a leisure travel company. The Firm is a cruise firm and provides vacations to cruise destinations throughout the world. The Firm aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) divisions. The North America segment includes Carnival Cruise Line, Princess Cruises (Princess), Holland America Line and Seabourn cruise brands. The EAA segment includes Costa Cruises, AIDA Cruises, P&O Cruises (UK), P&O Cruises (Australia) and Cunard cruise brands. The Company’s Cruise Support segment includes its cruise port and related facilities located in Cozumel, Mexico; Grand Turk, Turks and Caicos Islands; Puerto Plata, Dominican Republic, and Roatan, Honduras. The Cruise Support segment also includes other services that are provided for the benefit of all its cruise brands. The Tour and Other segment includes Holland America Princess Alaska Tours, a tour firm in Alaska and the Canadian Yukon, and approximately three cruise ships, the former Costa Celebration, Costa Europa and Grand Holiday, which it owns and charters-out under long-term leases. The Company’s tour firm owns and operates approximately 10 hotels or lodges, over 300 motorcoaches and approximately 20 glass-domed railcars.

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