Carnival Corporation & plc [CCL] Stock trading around $21.95 per share: What’s Next?

Carnival Corporation & plc [NYSE: CCL] stock went on a downward path that fall over -2.79% on Thursday, amounting to a one-week price decrease of less than -7.46%. The company report on July 14, 2021 that Seabourn Ovation To Operate From Miami For The First Time Starting In November 2021.

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Seabourn, the ultra-luxury cruise line, has opened for sale a series of new itineraries for Seabourn Ovation operated out of Miami between November 2021 and April 2022, coinciding with the ship’s first-ever stop in a U.S. port on November 18, 2021.

For the first time, Seabourn Ovation will cruise the Caribbean, starting with three 11-day voyages roundtrip from Miami in November and December 2021. The ship will visit iconic Caribbean destinations, including San Juan, the hidden harbors of Guadeloupe and Jost Van Dyke, St. Kitts & Nevis, Antigua and more. Departure dates include November 18 and 29, and December 10, 2021.

Over the last 12 months, CCL stock rose by 25.57%. The one-year Carnival Corporation & plc stock forecast points to a potential upside of 22.93. The average equity rating for CCL stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $24.33 billion, with 1.13 billion shares outstanding and 903.77 million shares in the current float. Compared to the average trading volume of 26.67M shares, CCL stock reached a trading volume of 43031792 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $28.48 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 2.50. 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 1.00, with the Price to Sales ratio for CCL stock in the period of the last 12 months amounting to 172.56. The Price to Book ratio for the last quarter was 1.39, with the Price to Cash per share for the same quarter was set at 8.36.

CCL Stock Performance Analysis:

Carnival Corporation & plc [CCL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.46. With this latest performance, CCL shares dropped by -23.28% in over the last four-week period, additionally plugging by 9.20% over the last 6 months – not to mention a rise of 25.57% 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 24.46, with the RSI for the last a single of trading hit 18.18, and the three-weeks RSI is set at 30.18 for Carnival Corporation & plc [CCL]. The present Moving Average for the last 50 days of trading for this stock 27.39, while it was recorded at 23.10 for the last single week of trading, and 23.06 for the last 200 days.

Insight into Carnival Corporation & plc Fundamentals:

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 1.10 and a Current Ratio set at 1.20.

Carnival Corporation & plc [CCL] Insider Position Details

There are presently around $11,323 million, or 52.70% 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 $1.12 billion in CCL stocks shares; and BLACKROCK INC., currently with $990.71 million in CCL stock with ownership of nearly 18.865% of the company’s market capitalization.

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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 475 institutional holders increased their position in Carnival Corporation & plc [NYSE:CCL] by around 93,236,854 shares. Additionally, 277 investors decreased positions by around 69,875,114 shares, while 126 investors held positions by with 352,731,806 shares. The mentioned changes placed institutional holdings at 515,843,774 shares, according to the latest SEC report filing. CCL stock had 132 new institutional investments in for a total of 17,768,071 shares, while 86 institutional investors sold positions of 16,072,345 shares during the same period.

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