Carnival Corporation & plc (NYSE:CCL) shares, rose in value on Wednesday, 08/03/22, with the stock price up by 4.71% to the previous day’s close as strong demand from buyers drove the stock to $9.79.
Actively observing the price movement in the last trading, the stock closed the session at $9.35, falling within a range of $9.465 and $9.81. The value of beta (5-year monthly) was 2.15. Referring to stock’s 52-week performance, its high was $27.39, and the low was $8.10. On the whole, CCL has fluctuated by 4.37% over the past month.
With the market capitalization of Carnival Corporation & plc currently standing at about $11.73 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 05, 2022 – Apr 11, 2022. 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 -$0.06, which is expected to increase to $0.05 for fiscal year -$3.45 and then to about $0.8 by fiscal year 2023. Data indicates that the EPS growth is expected to be 44.70% in 2023, while the next year’s EPS growth is forecast to be 123.20%.
Analysts have estimated the company’s revenue for the quarter at $4.82 billion, with a low estimate of $4.04 billion and a high estimate of $5.23 billion. According to the average forecast, sales growth in current quarter could jump up 573.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $13.33 billion, representing an increase of 690.50% 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 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
24 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 11 analyst(s), 6 recommend it as a Buy and 2 called the CCL stock Overweight. In the meantime, 1 analyst(s) believe the stock as Underweight and 4 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 5.98% and -6.59% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.17, while the 7-day volatility ratio is showing 6.75% which for the 30-day chart, stands at 6.53%. Furthermore, Carnival Corporation & plc (CCL)’s beta value is 2.12, and its average true range (ATR) is 0.74.
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 4.71% in last session, and over the past year, it shrunk by -54.32%%. In comparison, The Walt Disney Company (DIS) has moved higher at 4.12% on the day and was down -36.98% over the past 12 months. On the other hand, the price of Royal Caribbean Cruises Ltd. (RCL) has risen 5.95% on the day. The stock, however, is off -47.86% from where it was a year ago. Additionally, there is a gain of 4.17% for Norwegian Cruise Line Holdings Ltd. (NCLH) in last trading while the stock has seen an overall depriciation of -43.98%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 1.56%. Meanwhile, the Dow Jones Industrial Improved by 1.29%.
Data on historical trading for Carnival Corporation & plc (NYSE:CCL) indicates that the trading volumes over the past 10 days have averaged 69.05 million and over the past 3 months, they’ve averaged 53.10 million. According to company’s latest data on outstanding shares, there are 1.14 billion shares outstanding.
Nearly 0.20% of Carnival Corporation & plc’s shares belong to company insiders and institutional investors own 48.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 137.07 million shares as on Jul 14, 2022, resulting in a short ratio of 2.37. According to the data, the short interest in Carnival Corporation & plc (CCL) stood at 11.61% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 125.4 million. The stock has fallen by -51.34% 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.