Carnival Corporation & plc [NYSE: CCL] gained 2.44% or 0.67 points to close at $28.13 with a heavy trading volume of 31580678 shares. The company report on June 24, 2021 that Carnival Corporation & plc Provides Second Quarter 2021 Business Update.
Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) provides second quarter 2021 business update.
U.S. GAAP net loss of $(2.1) billion and adjusted net loss of $(2.0) billion for the second quarter of 2021.
It opened the trading session at $27.53, the shares rose to $28.23 and dropped to $27.52, the range by which the price of stock traded the whole day. The daily chart for CCL points out that the company has recorded 34.34% gains over the past six months. However, it is still -132.29% lower than its most recent low trading price.
If we look at the average trading volume of 27.20M shares, CCL reached to a volume of 31580678 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $28.05 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 2.60. 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.
Wolfe Research have made an estimate for Carnival Corporation & plc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 16, 2021. While these analysts kept the previous recommendation, Credit Suisse raised their target price from $18 to $40. The new note on the price target was released on April 09, 2021, representing the official price target for Carnival Corporation & plc stock. Previously, the target price had yet another raise to $33, while Argus analysts kept a Buy rating on CCL stock.
The Average True Range (ATR) for Carnival Corporation & plc is set at 0.97, with the Price to Sales ratio for CCL stock in the period of the last 12 months amounting to 36.68. The Price to Book ratio for the last quarter was 1.56, with the Price to Cash per share for the same quarter was set at 10.63.
Trading performance analysis for CCL stock
Carnival Corporation & plc [CCL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.18. With this latest performance, CCL shares dropped by -4.22% in over the last four-week period, additionally plugging by 34.34% over the last 6 months – not to mention a rise of 75.81% 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 46.32, with the RSI for the last a single of trading hit 43.65, and the three-weeks RSI is set at 48.54 for Carnival Corporation & plc [CCL]. The present Moving Average for the last 50 days of trading for this stock 28.09, while it was recorded at 28.09 for the last single week of trading, and 22.49 for the last 200 days.
Carnival Corporation & plc [CCL]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Carnival Corporation & plc [CCL] shares currently have an operating margin of -84.99 and a Gross Margin at -52.26. Carnival Corporation & plc’s Net Margin is presently recorded at -182.95.
Return on Total Capital for CCL is now -11.08, given the latest momentum, and Return on Invested Capital for the company is -25.91. Return on Equity for this stock declined to -44.58, with Return on Assets sitting at -20.75. When it comes to the capital structure of this company, Carnival Corporation & plc [CCL] has a Total Debt to Total Equity ratio set at 138.07. Additionally, CCL Total Debt to Total Capital is recorded at 58.00, with Total Debt to Total Assets ending up at 52.95. Long-Term Debt to Equity for the company is recorded at 113.86, with the Long-Term Debt to Total Capital now at 47.82.
Receivables Turnover for the company is 12.85 with a Total Asset Turnover recorded at a value of 0.11.Carnival Corporation & plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.
Carnival Corporation & plc [CCL]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Carnival Corporation & plc posted -3.3/share EPS, while the average EPS was predicted by analysts to be reported at -2.26/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -46.00%. 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.
An analysis of insider ownership at Carnival Corporation & plc [CCL]
There are presently around $14,511 million, or 53.70% of CCL stock, in the hands of institutional investors. The top three institutional holders of CCL stocks are: VANGUARD GROUP INC with ownership of 84,332,262, which is approximately 33.728% of the company’s market cap and around 0.20% of the total institutional ownership; PUBLIC INVESTMENT FUND, holding 50,830,926 shares of the stock with an approximate value of $1.43 billion in CCL stocks shares; and BLACKROCK INC., currently with $1.27 billion in CCL stock with ownership of nearly 18.865% of the company’s market capitalization.
Positions in Carnival Corporation & plc stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 480 institutional holders increased their position in Carnival Corporation & plc [NYSE:CCL] by around 93,621,713 shares. Additionally, 276 investors decreased positions by around 70,035,675 shares, while 127 investors held positions by with 352,201,072 shares. The mentioned changes placed institutional holdings at 515,858,460 shares, according to the latest SEC report filing. CCL stock had 142 new institutional investments in for a total of 18,023,980 shares, while 89 institutional investors sold positions of 16,131,835 shares during the same period.