Carnival Corporation & plc [CCL] Stock trading around $9.20 per share: What’s Next?

Carnival Corporation & plc [NYSE: CCL] stock went on an upward path that rose over 2.79% on Friday, amounting to a one-week price increase of more than 13.86%. The company report on January 6, 2023 that Cunard Announces ‘Treat Yourself, On Us’ Wave Season Offer on a Variety of 2023-2024 Sailings.

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Special Savings on Princess and Queens Grill Suite Bookings.

Luxury cruise line Cunard launches the “Treat Yourself, On Us” wave season offer, kicking off the new year with savings. Available on 2023 and 2024 voyages across Cunard’s fleet – flagship Queen Mary 2, Queen Victoria, Queen Elizabeth and the line’s newest ship Queen Anne.

Over the last 12 months, CCL stock dropped by -56.54%. The one-year Carnival Corporation & plc stock forecast points to a potential upside of 11.96. The average equity rating for CCL stock is currently 2.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $11.09 billion, with 1.19 billion shares outstanding and 1.02 billion shares in the current float. Compared to the average trading volume of 55.53M shares, CCL stock reached a trading volume of 40099576 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 $10.45 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 0.51, with the Price to Sales ratio for CCL stock in the period of the last 12 months amounting to 0.91. The Price to Book ratio for the last quarter was 1.30, with the Price to Cash per share for the same quarter was set at 5.87.

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 13.86. With this latest performance, CCL shares dropped by -1.08% in over the last four-week period, additionally plugging by 2.11% over the last 6 months – not to mention a drop of -56.54% 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 58.71, with the RSI for the last a single of trading hit 66.98, and the three-weeks RSI is set at 54.75 for Carnival Corporation & plc [CCL]. The present Moving Average for the last 50 days of trading for this stock 9.03, while it was recorded at 8.58 for the last single week of trading, and 11.21 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 -35.99 and a Gross Margin at -15.32. Carnival Corporation & plc’s Net Margin is presently recorded at -50.07.

Return on Equity for this stock declined to -63.44, with Return on Assets sitting at -11.60.

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.

Carnival Corporation & plc [CCL] Insider Position Details

There are presently around $5,140 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 $538.81 million in CCL stocks shares; and PUBLIC INVESTMENT FUND, currently with $467.64 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 362 institutional holders increased their position in Carnival Corporation & plc [NYSE:CCL] by around 89,511,900 shares. Additionally, 259 investors decreased positions by around 33,785,382 shares, while 169 investors held positions by with 435,397,300 shares. The mentioned changes placed institutional holdings at 558,694,582 shares, according to the latest SEC report filing. CCL stock had 92 new institutional investments in for a total of 11,909,912 shares, while 81 institutional investors sold positions of 11,329,642 shares during the same period.


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