At What Point In Time Would I Choose To Purchase Carnival Corp. (NYSE: CCL) Stock?

The trading price of Carnival Corp. (NYSE:CCL) floating lower at last check on Tuesday, April 02, closing at $15.71, -3.38% lower than its previous close.

The company’s P/E ratio in the trailing 12-month period was 61.13, while its 5Y monthly beta was 2.55. 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 $8.70. Over the past month, the stock has lost -1.81% in value.

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Carnival Corp., whose market valuation is $19.86 billion at the time of this writing, is expected to release its quarterly earnings report Jun 24, 2024 – Jun 28, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.01 per share this quarter, however they have predicted annual earnings per share of $1 for 2024 and $1.41 for 2025. It means analysts are expecting annual earnings per share growth of 41.00% next year.

Analysts have forecast the company to bring in revenue of $5.69 billion for the current quarter, with the likely lows of $5.42 billion and highs of $5.93 billion. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $24.6 billion. The company’s revenue is forecast to grow by 13.90% over what it did in 2024.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Carnival Corp. 2 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CCL has a 50% 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 Hold, while an average of long term indicators suggests that the stock is currently Hold.

A quick review shows that CCL’s price is currently -4.42% off the SMA20 and -2.12% off the SMA50. The RSI metric on the 14-day chart is currently showing 41.85, and weekly volatility stands at 5.30%. When measured over the past 30 days, the indicator reaches 3.56%. Carnival Corp. (NYSE:CCL)’s beta value is currently sitting at 2.55, while the Average True Range indicator is currently displaying 0.65.

To see how Carnival Corp. stock has been performing today in comparison to its peers in the industry, here are the numbers: CCL stock’s performance was -3.38% at last check in today’s session, and 54.63% in the past year. Carnival Corp. has a P/E ratio of 61.13.

An evaluation of the daily trading volume of Carnival Corp. (NYSE:CCL) indicates that the 3-month average is 32.88 million. However, this figure has increased over the past 10 days to an average of 43.96 million.

Currently, records show that 1.12 billion of the company’s shares remain outstanding. The insiders hold 25.29% of outstanding shares, whereas institutions hold 49.24%. The stats also highlight that short interest as of Mar 15, 2024, stood at 92.5 million shares, resulting in a short ratio of 3.23 at that time. From this, we can conclude that short interest is 7.30% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 92.94 million. However, since the stock’s price has seen -15.26% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.