Carnival plc (LON:CCL) shares dropped 8.5% during mid-day trading on Tuesday . The stock traded as low as GBX 3,790 ($49.52) and last traded at GBX 3,800 ($49.65). Approximately 1,843,590 shares were traded during trading, an increase of 137% from the average daily volume of 778,140 shares. The stock had previously closed at GBX 4,151 ($54.24).

CCL has been the topic of several research reports. Shore Capital raised shares of Carnival to a “buy” rating in a research report on Tuesday, January 8th. Berenberg Bank lifted their target price on shares of Carnival from GBX 4,700 ($61.41) to GBX 5,000 ($65.33) and gave the company a “buy” rating in a report on Thursday, January 17th. UBS Group reaffirmed a “buy” rating and issued a GBX 6,000 ($78.40) target price (up previously from GBX 5,750 ($75.13)) on shares of Carnival in a report on Monday, January 7th. HSBC lowered their target price on shares of Carnival from GBX 5,500 ($71.87) to GBX 5,400 ($70.56) and set a “buy” rating on the stock in a report on Thursday, March 21st. Finally, Barclays lowered their target price on shares of Carnival from GBX 5,460 ($71.34) to GBX 5,235 ($68.40) and set an “overweight” rating on the stock in a report on Thursday. Six equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of GBX 5,367 ($70.13).

The firm has a market cap of $6.21 billion and a price-to-earnings ratio of 8.34. The company has a debt-to-equity ratio of 42.31, a quick ratio of 0.15 and a current ratio of 0.24.

The company also recently announced a dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 21st were issued a $0.50 dividend. This represents a dividend yield of 0.94%. The ex-dividend date was Thursday, February 21st. Carnival’s payout ratio is 0.34%.

In other news, insider Arnold W. Donald sold 28,846 shares of Carnival stock in a transaction dated Friday, February 15th. The shares were sold at an average price of GBX 5,708 ($74.59), for a total value of £1,646,529.68 ($2,151,482.66).

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About Carnival (LON:CCL)

Carnival plc operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.

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