why Carnival Corporation & plc [CCL] is a Good Choice for Investors After New Price Target of $13.92

Carnival Corporation & plc [NYSE: CCL] loss -5.41% or -0.57 points to close at $9.97 with a heavy trading volume of 45896926 shares. The company report on August 26, 2022 that Holland America Line Sees Higher Interest for Longer Roundtrip Voyages from U.S. Homeports.

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New marketing campaign highlights travel trend of consumers wanting to see the world from their doorstep.

– With a rise in travelers wanting to explore global destinations without taking international flights, Holland America Line is launching its “See the World from Your Doorstep” campaign, highlighting the cruise line’s leadership in roundtrip travel from U.S. homeports.

It opened the trading session at $10.62, the shares rose to $10.8601 and dropped to $9.97, the range by which the price of stock traded the whole day. The daily chart for CCL points out that the company has recorded -52.75% loss over the past six months. However, it is still -23.09% lower than its most recent low trading price.

If we look at the average trading volume of 54.64M shares, CCL reached to a volume of 45896926 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]:

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 0.71, with the Price to Sales ratio for CCL stock in the period of the last 12 months amounting to 2.20. The Price to Book ratio for the last quarter was 1.38, with the Price to Cash per share for the same quarter was set at 5.57.

Trading performance analysis for CCL stock

Carnival Corporation & plc [CCL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.01. With this latest performance, CCL shares gained by 9.56% in over the last four-week period, additionally sinking by -52.75% over the last 6 months – not to mention a drop of -57.52% 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 49.55, with the RSI for the last a single of trading hit 48.87, and the three-weeks RSI is set at 48.68 for Carnival Corporation & plc [CCL]. The present Moving Average for the last 50 days of trading for this stock 9.64, while it was recorded at 9.90 for the last single week of trading, and 16.30 for the last 200 days.

Carnival Corporation & plc [CCL]: A deeper dive into fundamental analysis

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.

Carnival Corporation & plc [CCL]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Carnival Corporation & plc [CCL]

There are presently around $5,046 million, or 46.80% of CCL stock, in the hands of institutional investors. The top three institutional holders of CCL stocks are: VANGUARD GROUP INC with ownership of 91,435,982, which is approximately 1.467% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 51,464,138 shares of the stock with an approximate value of $513.1 million in CCL stocks shares; and PUBLIC INVESTMENT FUND, currently with $506.78 million in CCL stock with ownership of nearly 0% of the company’s market capitalization.

332 institutional holders increased their position in Carnival Corporation & plc [NYSE:CCL] by around 46,506,637 shares. Additionally, 309 investors decreased positions by around 56,578,260 shares, while 175 investors held positions by with 403,063,926 shares. The mentioned changes placed institutional holdings at 506,148,823 shares, according to the latest SEC report filing. CCL stock had 79 new institutional investments in for a total of 6,624,573 shares, while 114 institutional investors sold positions of 11,506,818 shares during the same period.


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