why Carnival Corporation & plc [CCL] is a Good Choice for Investors After New Price Target of $10.81

Carnival Corporation & plc [NYSE: CCL] traded at a high on 03/03/23, posting a 3.25 gain after which it closed the day’ session at $11.11. The company report on March 2, 2023 that Cunard Announces 2025 Winter Program.

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The results of the trading session contributed to over 29891545 shares changing hands. Over the past one week, the price volatility of Carnival Corporation & plc stands at 3.30% while the volatility over the past one month is 4.37%.

The market cap for CCL stock reached $13.35 billion, with 1.26 billion shares outstanding and 1.03 billion shares in the current float. Compared to the average trading volume of 40.80M shares, CCL reached a trading volume of 29891545 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 $10.81 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 2.70. 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 0.50, with the Price to Sales ratio for CCL stock in the period of the last 12 months amounting to 1.10. The Price to Book ratio for the last quarter was 1.98, with the Price to Cash per share for the same quarter was set at 3.35.

How has CCL stock performed recently?

Carnival Corporation & plc [CCL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.91. With this latest performance, CCL shares dropped by -2.03% in over the last four-week period, additionally plugging by 17.44% over the last 6 months – not to mention a drop of -41.59% 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 52.50, with the RSI for the last a single of trading hit 52.19, and the three-weeks RSI is set at 53.52 for Carnival Corporation & plc [CCL]. The present Moving Average for the last 50 days of trading for this stock 10.31, while it was recorded at 10.78 for the last single week of trading, and 9.89 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 -32.19 and a Gross Margin at -11.70. 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 0.70 and a Current Ratio set at 0.70.

Insider trade positions for Carnival Corporation & plc [CCL]

There are presently around $6,608 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 111,933,967, which is approximately 2.456% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 61,241,185 shares of the stock with an approximate value of $680.39 million in CCL stocks shares; and PUBLIC INVESTMENT FUND, currently with $564.73 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 Thursday and at the time of the Thursday reporting period, where 331 institutional holders increased their position in Carnival Corporation & plc [NYSE:CCL] by around 83,458,897 shares. Additionally, 335 investors decreased positions by around 49,885,463 shares, while 157 investors held positions by with 461,476,340 shares. The mentioned changes placed institutional holdings at 594,820,700 shares, according to the latest SEC report filing. CCL stock had 111 new institutional investments in for a total of 29,517,431 shares, while 105 institutional investors sold positions of 15,568,021 shares during the same period.


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