Carnival Corporation & plc [CCL] moved down -5.99: Why It’s Important

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Carnival Corporation & plc [NYSE: CCL] stock went on a downward path that fall over -5.99% on Friday, amounting to a one-week price increase of more than 0.87%. The company report on July 20, 2022 that Carnival Corporation & plc Announces Pricing of Offering of Common Stock.


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Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), today announced that Carnival Corporation (the “Company”) has priced its previously announced underwritten public offering of 102,139,621 shares of common stock of the Company at a public offering price of $9.95 per share. The Company has granted the underwriter a 30-day option to purchase up to 15,320,943 additional shares of common stock of the Company. The offering is expected to close on July 25, 2022, subject to customary closing conditions. The Company expects to use the net proceeds from the offering for general corporate purposes, which could include addressing 2023 debt maturities.

Goldman Sachs & Co. LLC is acting as sole bookrunner and underwriter for the proposed public offering.

Over the last 12 months, CCL stock dropped by -59.23%. The one-year Carnival Corporation & plc stock forecast points to a potential upside of 39.83.

The market cap for the stock reached $9.88 billion, with 1.14 billion shares outstanding and 906.65 million shares in the current float. Compared to the average trading volume of 49.43M shares, CCL stock reached a trading volume of 100236225 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]:

Morgan Stanley have made an estimate for Carnival Corporation & plc shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on June 29, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on June 29, 2022, representing the official price target for Carnival Corporation & plc stock. Previously, the target price had yet another raise to $15, while Susquehanna analysts kept a Neutral rating on CCL stock.

The Average True Range (ATR) for Carnival Corporation & plc is set at 0.81, with the Price to Sales ratio for CCL stock in the period of the last 12 months amounting to 1.69. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 6.75.

CCL Stock Performance Analysis:

Carnival Corporation & plc [CCL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.87. With this latest performance, CCL shares dropped by -3.74% in over the last four-week period, additionally sinking by -55.48% over the last 6 months – not to mention a drop of -59.23% 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 44.59, with the RSI for the last a single of trading hit 45.60, and the three-weeks RSI is set at 43.09 for Carnival Corporation & plc [CCL]. The present Moving Average for the last 50 days of trading for this stock 11.17, while it was recorded at 10.04 for the last single week of trading, and 17.98 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 -328.14 and a Gross Margin at -230.03. Carnival Corporation & plc’s Net Margin is presently recorded at -497.96.

Return on Equity for this stock declined to -58.11, with Return on Assets sitting at -17.77.

Carnival Corporation & plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

CCL Stock EPS

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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Carnival Corporation & plc go to 9.95%.

Carnival Corporation & plc [CCL] Insider Position Details

There are presently around $4,817 million, or 53.50% of CCL stock, in the hands of institutional investors. The top three institutional holders of CCL stocks are: VANGUARD GROUP INC with ownership of 90,114,182, which is approximately 3.59% 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 $470.69 million in CCL stocks shares; and BLACKROCK INC., currently with $469.79 million in CCL stock with ownership of nearly 2.152% 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 310 institutional holders increased their position in Carnival Corporation & plc [NYSE:CCL] by around 33,467,402 shares. Additionally, 345 investors decreased positions by around 37,501,106 shares, while 180 investors held positions by with 449,264,800 shares. The mentioned changes placed institutional holdings at 520,233,308 shares, according to the latest SEC report filing. CCL stock had 79 new institutional investments in for a total of 9,627,795 shares, while 110 institutional investors sold positions of 12,358,296 shares during the same period.

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