Market Analysts see Carnival Corporation & plc [CCL] falling to $7. Time to buy?

Carnival Corporation & plc [NYSE: CCL] traded at a low on 09/23/22, posting a -7.16 loss after which it closed the day’ session at $8.95. The company report on September 21, 2022 that PRINCESS CRUISES, FUJI SPORTS AND FUJI MATS FORM EXCLUSIVE PARTNERSHIP TO FACILITATE GLOBAL MARTIAL ARTS EXPERIENCES AT SEA.


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The First Princess and FUJI Adventures Cruise Takes Place January 7-14, 2023 on Sky Princess in the Caribbean.

FUJI Sports (FUJI), the outfitter and equipment provider for more than 18 million martial arts competitors and academies worldwide since 1969, and FUJI Mats, the worldwide leading supplier of premium mats, facility equipment, and design services, have announced a partnership with Princess Cruises that will now make FUJI the exclusive cruise partner to stage seminars, events and competitions spanning the globe.

The results of the trading session contributed to over 79169323 shares changing hands. Over the past one week, the price volatility of Carnival Corporation & plc stands at 5.99% while the volatility over the past one month is 5.55%.

The market cap for CCL stock reached $11.79 billion, with 1.14 billion shares outstanding and 1.01 billion shares in the current float. Compared to the average trading volume of 53.34M shares, CCL reached a trading volume of 79169323 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $14.03 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 2.00. 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.

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 0.63, with the Price to Sales ratio for CCL stock in the period of the last 12 months amounting to 2.01. The Price to Book ratio for the last quarter was 1.23, with the Price to Cash per share for the same quarter was set at 5.47.

How has CCL stock performed recently?

Carnival Corporation & plc [CCL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.82. With this latest performance, CCL shares dropped by -10.95% in over the last four-week period, additionally sinking by -51.60% over the last 6 months – not to mention a drop of -63.75% 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 37.16, with the RSI for the last a single of trading hit 29.46, and the three-weeks RSI is set at 41.09 for Carnival Corporation & plc [CCL]. The present Moving Average for the last 50 days of trading for this stock 9.90, while it was recorded at 9.90 for the last single week of trading, and 15.36 for the last 200 days.

Carnival Corporation & plc [CCL]: Deeper insight into the 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.

Earnings analysis for Carnival Corporation & plc [CCL]

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%.

Insider trade positions for Carnival Corporation & plc [CCL]

There are presently around $4,527 million, or 46.70% of CCL stock, in the hands of institutional investors. The top three institutional holders of CCL stocks are: VANGUARD GROUP INC with ownership of 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 $460.6 million in CCL stocks shares; and PUBLIC INVESTMENT FUND, currently with $454.94 million in CCL stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Carnival Corporation & plc stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 334 institutional holders increased their position in Carnival Corporation & plc [NYSE:CCL] by around 46,080,059 shares. Additionally, 310 investors decreased positions by around 56,569,044 shares, while 176 investors held positions by with 403,127,681 shares. The mentioned changes placed institutional holdings at 505,776,784 shares, according to the latest SEC report filing. CCL stock had 82 new institutional investments in for a total of 6,734,626 shares, while 115 institutional investors sold positions of 11,516,918 shares during the same period.

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