The trading price of Carnival Corp. (NYSE:CCL) closed higher on Monday, October 28, and closing at $21.92, 4.83% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $21.5501 and $22.39. The company’s P/E ratio in the trailing 12-month period was 19.52, 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 $21.80 and a 52-week low of $10.95. Over the past month, the stock has gained 18.23% in value.
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Carnival Corp., whose market valuation is $27.78 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. Analysts have predicted the quarterly earnings per share to grow by 0.06 per share this quarter, however they have predicted annual earnings per share of 1.32 for current year and 1.72 for next year.
Analysts have forecast the company to bring in revenue of 5.92B for the current quarter, with the likely lows of 5.81B and highs of 6.06B. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 25B.
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 100% 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 8.96% off the SMA20 and 19.81% off the SMA50. The RSI metric on the 14-day chart is currently showing 71.87, and weekly volatility stands at 3.01%. When measured over the past 30 days, the indicator reaches 3.61%. Carnival Corp. (NYSE:CCL)’s beta value is currently sitting at 2.70, while the Average True Range indicator is currently displaying 0.72. 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 24.73% off the estimated low and -73.36% 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 -0.36% 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 4.83% in the latest trading, and 92.79% in the past year. Carnival Corp. has a P/E ratio of 19.52.
An evaluation of the daily trading volume of Carnival Corp. (NYSE:CCL) indicates that the 3-month average is 28.03 million. However, this figure has increased over the past 10 days to an average of 22.49.
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 55.81%. The stats also highlight that short interest as of 2024-10-15, stood at 66.96 million shares, resulting in a short ratio of 1.86 at that time. From this, we can conclude that short interest is 729.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were down slightly from the previous month’s figure, which was 84.7 million. However, since the stock’s price has seen 18.23% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
