The trading price of Carnival Corp. (NYSE:CCL) closed higher on current market day and closing at $18.02, 3.92% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $17.55 and $18.1459. The company’s P/E ratio in the trailing 12-month period was 16.04, while its 5Y monthly beta was 2.697. In examining the 52-week price action we see that the stock hit a 52-week high of $19.74 and a 52-week low of $10.84. Over the past month, the stock has gained 11.58% in value.
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Carnival Corp., whose market valuation is $22.84 billion at the time of this writing, is expected to release its quarterly earnings report in November. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest CCL has a 100% Buy 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% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
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 25. Out of them, 4 rate it a Hold, while 20 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Carnival Corp. (CCL) as Underweight, while 1 advise Sell. Analysts have rated the stock Buy, 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 1.51% off the SMA20 and 8.68% off the SMA50. The RSI metric on the 14-day chart is currently showing 54.74, and weekly volatility stands at 4.77%. When measured over the past 30 days, the indicator reaches 3.57%. Carnival Corp. (NYSE:CCL)’s beta value is currently sitting at 2.70, while the Average True Range indicator is currently displaying 0.69. With analysts defining $16.5-$38 as the low and high price targets, we arrive at a consensus price target of $22 for the trailing 12-month period. The current price is about 8.44% off the estimated low and -110.88% off the forecast high, based on this estimate. Investors will be thrilled if CCL’s share price rises to $22, which is the median consensus price. At that level, CCL’s share price would be -22.09% below current price.
To see how Carnival Corp. stock has been performing in comparison to its peers in the industry, here are the numbers: CCL stock’s performance was 3.92% in the latest trading, and 37.66% in the past year. Carnival Corp. has a P/E ratio of 16.04.
An evaluation of the daily trading volume of Carnival Corp. (NYSE:CCL) indicates that the 3-month average is 27.51 million. However, this figure has increased over the past 10 days to an average of 36.53.
Currently, records show that 1.12 billion of the company’s shares remain outstanding. The insiders hold 21.23% of outstanding shares, whereas institutions hold 55.74%. The stats also highlight that short interest as of 2024-09-13, stood at 84.7 million shares, resulting in a short ratio of 3.64 at that time. From this, we can conclude that short interest is 954.00 of the company’s total outstanding shares. It is noteworthy that short shares in September were up slightly from the previous month’s figure, which was 83.87 million. However, since the stock’s price has seen -2.80% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
