why Carnival Corporation & plc [CCL] is a Good Choice for Investors After New Price Target of $10.76

Carnival Corporation & plc [NYSE: CCL] loss -2.09% or -0.18 points to close at $8.45 with a heavy trading volume of 43110255 shares. The company report on December 18, 2022 that Ruby Princess Departs on Inaugural Voyage from Galveston, Marking Princess’ First Cruise from Texas in Six Years.


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113,561-ton Ship to Offer 5- to 16-Day Cruises, Carrying Upwards of 50,000 Passengers from Galveston During its Winter/Spring 2022-23 Season   .

Ruby Princess departed Galveston this afternoon on a 11-day sailing to Mexico and the Caribbean, marking Princess Cruises’ first cruise from Texas in six years.

It opened the trading session at $8.49, the shares rose to $8.70 and dropped to $8.35, the range by which the price of stock traded the whole day. The daily chart for CCL points out that the company has recorded -11.98% loss over the past six months. However, it is still -38.3% lower than its most recent low trading price.

If we look at the average trading volume of 63.95M shares, CCL reached to a volume of 43110255 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 $10.76 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 2.80. 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.

JP Morgan have made an estimate for Carnival Corporation & plc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 06, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $13 to $7. 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 $14, while Barclays analysts kept a Overweight rating on CCL stock.

The Average True Range (ATR) for Carnival Corporation & plc is set at 0.54, with the Price to Sales ratio for CCL stock in the period of the last 12 months amounting to 1.12. The Price to Book ratio for the last quarter was 1.20, 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] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.74. With this latest performance, CCL shares dropped by -12.25% in over the last four-week period, additionally sinking by -11.98% over the last 6 months – not to mention a drop of -51.91% 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 38.94, with the RSI for the last a single of trading hit 30.95, and the three-weeks RSI is set at 43.17 for Carnival Corporation & plc [CCL]. The present Moving Average for the last 50 days of trading for this stock 8.84, while it was recorded at 8.79 for the last single week of trading, and 11.84 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 -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 0.70.

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

There are presently around $4,747 million, or 50.90% of CCL stock, in the hands of institutional investors. The top three institutional holders of CCL stocks are: VANGUARD GROUP INC with ownership of 109,251,208, which is approximately 19.484% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 58,566,229 shares of the stock with an approximate value of $494.88 million in CCL stocks shares; and PUBLIC INVESTMENT FUND, currently with $429.52 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 December and at the time of the December reporting period, where 365 institutional holders increased their position in Carnival Corporation & plc [NYSE:CCL] by around 89,910,856 shares. Additionally, 260 investors decreased positions by around 33,795,558 shares, while 172 investors held positions by with 438,126,881 shares. The mentioned changes placed institutional holdings at 561,833,295 shares, according to the latest SEC report filing. CCL stock had 92 new institutional investments in for a total of 11,932,641 shares, while 82 institutional investors sold positions of 11,346,411 shares during the same period.

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