Carnival Corp. (NYSE:CCL) shares, rose in value, with the stock price down by -1.83% to the previous day’s close as strong demand from buyers drove the stock to $15.06.
Actively observing the price movement in the last trading, the stock closed the session at $15.34. The value of beta (5-year monthly) was 2.55 whereas the PE ratio was 58.60 over 12-month period. Referring to stock’s 52-week performance, its high was $19.74, and the low was $8.70. On the whole, CCL has fluctuated by -5.22% over the past month.
With the market capitalization of Carnival Corp. currently standing at about $19.04 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jun 24, 2024 – Jun 28, 2024. 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 -$0.02, which is expected to increase to $1.19 for fiscal year $1 and then to about $1.43 by fiscal year 2025.
Analysts have estimated the company’s revenue for the quarter at $5.66 billion, with a low estimate of $5.42 billion and a high estimate of $5.73 billion. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $24.56 billion, representing an increase of 13.70% 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 2 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% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CCL currently trading nearly -8.06% and -5.80% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 35.61, while the 7-day volatility ratio is showing 3.94% which for the 30-day chart, stands at 3.70%. Furthermore, Carnival Corp. (CCL)’s beta value is 2.55, and its average true range (ATR) is 0.65.
A comparison of Carnival Corp. (CCL) with its peers suggests the former has fared considerably weaker in the market. CCL showed an intraday change of -1.83% in last session, and over the past year, it grew by 51.05%%.
Data on historical trading for Carnival Corp. (NYSE:CCL) indicates that the trading volumes over the past 10 days have averaged 45.48 million and over the past 3 months, they’ve averaged 32.59 million. According to company’s latest data on outstanding shares, there are 1.12 billion shares outstanding.
Nearly 25.29% of Carnival Corp.’s shares belong to company insiders and institutional investors own 49.28% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 92.5 million shares as on Mar 15, 2024, resulting in a short ratio of 3.23. According to the data, the short interest in Carnival Corp. (CCL) stood at 7.30% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 92.94 million. The stock has fallen by -18.77% 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.
