Carnival Corporation & plc (NYSE:CCL) shares, rose in value on Thursday, July 22, with the stock price down by -3.89% to the previous day’s close as strong demand from buyers drove the stock to $22.29.
Actively observing the price movement in the recent trading, the stock is buoying the session at $23.19, falling within a range of $21.67 and $23.36. The value of beta (5-year monthly) is 2.36. Referring to stock’s 52-week performance, its high was $31.52, and the low was $12.11. On the whole, CCL has fluctuated by -19.11% over the past month.
With the market capitalization of Carnival Corporation & plc currently standing at about $27.61 billion, investors are eagerly awaiting this quarter’s results, scheduled for Oct 06, 2021 – Oct 11, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$1.24, which is expected to increase to -$0.21 for fiscal year -$5.41 and then to about $0.36 by fiscal year 2022. Data indicates that the EPS growth is expected to be 27.60% in 2022, while the next year’s EPS growth is forecast to be 106.70%.
Analysts have estimated the company’s revenue for the quarter at $1.02 billion, with a low estimate of $178.8 million and a high estimate of $2.95 billion. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $3.59 billion, representing a decrease of -35.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CCL’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Sell.
18 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 7 analyst(s), 5 recommend it as a Buy and 0 called the CCL stock Overweight. In the meantime, 1 analyst(s) believe the stock as Underweight and 5 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Hold.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CCL currently trading nearly -8.62% and -17.38% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.45, while the 7-day volatility ratio is showing 7.02% which for the 30-day chart, stands at 4.43%. Furthermore, Carnival Corporation & plc (CCL)’s beta value is 2.32, and its average true range (ATR) is 1.21. The company’s stock has been forecasted to trade at an average price of $26.33 over the course of the next 52 weeks, with a low of $14.70 and a high of $39.00. Based on these price targets, the low is 34.05% off current price, whereas the price has to move -74.97% to reach the yearly target high. Additionally, analysts’ median price of $27.00 is likely to be welcomed by investors because it represents a decrease of -21.13% from the current levels.
A comparison of Carnival Corporation & plc (CCL) with its peers suggests the former has fared considerably weaker in the market. CCL showed an intraday change of -3.89% in today’s session so far, and over the past year, it grew by 52.67%%. In comparison, Marriott International Inc. (MAR) has moved lower at -1.70% today and is up 56.02% over the past 12 months. On the other hand, the price of Carnival Corporation & plc (CUK) has fallen -3.76% today. The stock, however, is off 63.12% from where it was a year ago. Additionally, there is a loss of -3.80% for Norwegian Cruise Line Holdings Ltd. (NCLH) in recent trading while the stock has seen an overall depriciation of 74.10%% over the past year. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it lost 0.00%. Meanwhile, the Dow Jones Industrial Slipped by -0.12%.
Data on historical trading for Carnival Corporation & plc (NYSE:CCL) indicates that the trading volumes over the past 10 days have averaged 48.92 million and over the past 3 months, they’ve averaged 29.59 million. According to company’s latest data on outstanding shares, there are 1.13 billion shares outstanding.
Nearly 0.20% of Carnival Corporation & plc’s shares belong to company insiders and institutional investors own 52.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 60.78 million shares as on Apr 14, 2021, resulting in a short ratio of 1.59. According to the data, the short interest in Carnival Corporation & plc (CCL) stood at 5.11% of shares outstanding as of Apr 14, 2021; the number of short shares registered in Mar 14, 2021 reached 55.24 million. The stock has risen by 7.06% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CCL stock heading into the next quarter.