The trading price of Carnival Corporation & plc (NYSE:CCL) closed lower on Friday, October 08, closing at $23.83, -2.69% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $23.76 and $24.695. In examining the 52-week price action we see that the stock hit a 52-week high of $31.52 and a 52-week low of $12.11. Over the past month, the stock has gained 2.36% in value.
Carnival Corporation & plc, whose market valuation is $27.51 billion at the time of this writing, is expected to release its quarterly earnings report Jan 10, 2022 – Jan 14, 2022. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$1.33 per share this quarter, however they have predicted annual earnings per share of -$5.81 for 2021 and $0.29 for 2022. It means analysts are expecting annual earnings per share growth of 22.20% this year and 105.00% next year.
Analysts have forecast the company to bring in revenue of $869.99 million for the current quarter, with the likely lows of $178.8 million and highs of $2.14 billion. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $2.98 billion. The company’s revenue is forecast to drop by -46.70% over what it did in 2021.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Carnival Corporation & plc No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CCL has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CCL a recommendation rating is 21. Out of them, 9 rate it a Hold, while 7 recommend Buy, whereas 0 assign an Overweight rating. 1 analyst(s) have tagged Carnival Corporation & plc (CCL) as Underweight, while 4 advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that CCL’s price is currently -2.33% off the SMA20 and 1.33% off the SMA50. The RSI metric on the 14-day chart is currently showing 46.33, and weekly volatility stands at 3.67%. When measured over the past 30 days, the indicator reaches 3.82%. Carnival Corporation & plc (NYSE:CCL)’s beta value is currently sitting at 2.25, while the Average True Range indicator is currently displaying 1.05. With analysts defining $17.78-$41.00 as the low and high price targets, we arrive at a consensus price target of $27.85 for the trailing 12-month period. The current price is about 25.39% off the estimated low and -72.05% off the forecast high, based on this estimate. Investors will be thrilled if CCL’s share price rises to $28.50, which is the median consensus price. At that level, CCL’s share price would be -19.6% below current price.
To see how Carnival Corporation & plc stock has been performing in comparison to its peers in the industry, here are the numbers: CCL stock’s performance was -2.69% in the latest trading, and 52.66% in the past year, while The Walt Disney Company (DIS) has traded -0.55% on the day and positioned 43.59% higher than it was a year ago. Another comparable company Royal Caribbean Group (RCL) saw its stock close -1.19% lower in the most recent trading session but was up 26.61% in a year. Furthermore, Norwegian Cruise Line Holdings Ltd. (NCLH) showed a decrease of -2.34% on the day while its price kept inclining at 44.78% over the past year. Carnival Corporation & plc has a P/E ratio of 0, compared to The Walt Disney Company’s 281.88 and Royal Caribbean Group’s 0. Also in last trading session, the S&P 500 Index has plunged -0.19%, while the Dow Jones Industrial also saw a negative session, down -0.03% on the day.
An evaluation of the daily trading volume of Carnival Corporation & plc (NYSE:CCL) indicates that the 3-month average is 33.63 million. However, this figure has increased over the past 10 days to an average of 31.94 million.
Currently, records show that 1.13 billion of the company’s shares remain outstanding. The insiders hold 0.20% of outstanding shares, whereas institutions hold 53.40%. The stats also highlight that short interest as of Aug 12, 2021, stood at 72.87 million shares, resulting in a short ratio of 1.93 at that time. From this, we can conclude that short interest is 6.29% of the company’s total outstanding shares. It is noteworthy that short shares in August were up slightly from the previous month’s figure, which was 71.55 million. However, since the stock’s price has seen 10.02% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.