Carnival Corporation & Plc [NYSE: CCL] plunged by -$0.82 during the normal trading session on Friday and reaching a high of $18.28 during the day while it closed the day at $17.37. The company report on November 21, 2020 that Carnival Corporation & plc Announces Upsizing and Pricing of $1,450 Million and €500 Million Senior Unsecured Notes due 2026.
Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) (the “Company”) announced that Carnival Corporation (the “Corporation”) has priced the private offerings of $1,450 million aggregate principal amount of 7.625% senior unsecured notes due 2026 (the “USD Notes”) and €500 million aggregate principal amount of 7.625% senior unsecured notes due 2026 ( the “Euro Notes” and, together with the USD Notes, the “Notes”). The aggregate principal amount of Notes to be issued was increased to $1,450 million and €500 million from the previously announced $1,000 million and €300 million, respectively. The offering of the Notes is expected to close on November 25, 2020, subject to customary closing conditions.
The USD Notes and the Euro Notes will pay interest semi-annually on March 1 and September 1 of each year, beginning on March 1, 2021, at a rate of 7.625% and 7.625% per year, respectively. The Notes will be unsecured and will mature on March 1, 2026.
Carnival Corporation & Plc stock has also gained 8.49% of its value over the past 7 days. However, CCL stock has inclined by 7.62% in the 3 months of the year. Over the past six months meanwhile, it has gained 6.70% and lost -65.83% year-on date.
The market cap for CCL stock reached $15.55 billion, with 775.00 million shares outstanding and 627.38 million shares in the current float. Compared to the average trading volume of 46.03M shares, CCL reached a trading volume of 52206264 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Carnival Corporation & Plc [CCL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CCL shares is $16.77 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CCL stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Carnival Corporation & Plc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 25, 2020. The new note on the price target was released on July 21, 2020, representing the official price target for Carnival Corporation & Plc stock. Previously, the target price had yet another raise to $10, while SunTrust analysts kept a Sell rating on CCL stock. On July 14, 2020, analysts decreased their price target for CCL shares from 27 to 18.
The Average True Range (ATR) for Carnival Corporation & Plc is set at 1.23, with the Price to Sales ratio for CCL stock in the period of the last 12 months amounting to 1.50. The Price to Book ratio for the last quarter was 0.69, with the Price to Cash per share for the same quarter was set at 9.13.
CCL stock trade performance evaluation
Carnival Corporation & Plc [CCL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.49. With this latest performance, CCL shares gained by 14.35% in over the last four-week period, additionally plugging by 6.70% over the last 6 months – not to mention a drop of -59.62% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CCL stock in for the last two-week period is set at 57.54, with the RSI for the last a single of trading hit 57.11, and the three-weeks RSI is set at 55.57 for Carnival Corporation & Plc [CCL]. The present Moving Average for the last 50 days of trading for this stock 15.18, while it was recorded at 17.75 for the last single week of trading, and 17.30 for the last 200 days.
Carnival Corporation & Plc [CCL]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Carnival Corporation & Plc [CCL] shares currently have an operating margin of +15.74 and a Gross Margin at +27.65. Carnival Corporation & Plc’s Net Margin is presently recorded at +14.36.
Return on Total Capital for CCL is now 9.15, given the latest momentum, and Return on Invested Capital for the company is 8.88. Return on Equity for this stock inclined to 12.01, with Return on Assets sitting at 6.84. When it comes to the capital structure of this company, Carnival Corporation & Plc [CCL] has a Total Debt to Total Equity ratio set at 45.35. Additionally, CCL Total Debt to Total Capital is recorded at 31.20, with Total Debt to Total Assets ending up at 25.53. Long-Term Debt to Equity for the company is recorded at 38.14, with the Long-Term Debt to Total Capital now at 26.24.
Receivables Turnover for the company is 43.57 with a Total Asset Turnover recorded at a value of 0.48.Carnival Corporation & Plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.
Earnings per share (EPS) analysis for Carnival Corporation & Plc [CCL] stock
With the latest financial reports released by the company, Carnival Corporation & Plc posted 0.62/share EPS, while the average EPS was predicted by analysts to be reported at 0.5/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 24.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CCL.
Carnival Corporation & Plc [CCL]: Insider Ownership positions
There are presently around $6,971 million, or 56.30% of CCL stock, in the hands of institutional investors. The top three institutional holders of CCL stocks are: VANGUARD GROUP INC with ownership of 57,454,742, which is approximately 10.577% of the company’s market cap and around 0.10% of the total institutional ownership; PUBLIC INVESTMENT FUND, holding 50,830,926 shares of the stock with an approximate value of $882.93 million in CCL stocks shares; and TRUIST FINANCIAL CORP, currently with $669.95 million in CCL stock with ownership of nearly -0.02% of the company’s market capitalization.
Positions in Carnival Corporation & Plc stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 342 institutional holders increased their position in Carnival Corporation & Plc [NYSE:CCL] by around 43,879,956 shares. Additionally, 277 investors decreased positions by around 32,282,748 shares, while 136 investors held positions by with 325,188,698 shares. The mentioned changes placed institutional holdings at 401,351,402 shares, according to the latest SEC report filing. CCL stock had 107 new institutional investments in for a total of 10,809,793 shares, while 85 institutional investors sold positions of 7,759,134 shares during the same period.