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12-Month Price Target For Carnival Corporation & plc (NYSE:CCL) Now Sits At $29.00

In last trading session, Carnival Corporation & plc (NYSE:CCL) saw 61.69 million shares changing hands with its beta currently measuring 2.01. Company’s recent per share price level of $9.64 trading at -$0.07 or -0.72% at ring of the bell on the day assigns it a market valuation of $11.99B. That closing price of CCL’s stock is at a discount of -184.13% from its 52-week high price of $27.39 and is indicating a premium of 15.98% from its 52-week low price of $8.10. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 48.36 million shares which gives us an average trading volume of 52.98 million if we extend that period to 3-months.

Carnival Corporation & plc (NYSE:CCL) trade information

Upright in the red during last session for losing -0.72%, in the last five days CCL remained trading in the red while hitting it’s week-highest on Monday, 09/19/22 when the stock touched $9.64 price level, adding 13.46% to its value on the day. Carnival Corporation & plc’s shares saw a change of -52.09% in year-to-date performance and have moved -11.72% in past 5-day. Carnival Corporation & plc (NYSE:CCL) showed a performance of 1.05% in past 30-days. Number of shares sold short was 137.07 million shares which calculate 2.37 days to cover the short interests.

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Wall Street analysts have assigned a consensus price target of $12.44 to the stock, which implies a rise of 22.51% to its current value. Analysts have been projecting $6.80 as a low price target for the stock while placing it at a high target of $29.00. It follows that stock’s current price would drop -200.83% in reaching the projected high whereas dropping to the targeted low would mean a gain of 29.46% for stock’s current value.

Carnival Corporation & plc (CCL) estimates and forecasts

Statistics highlight that Carnival Corporation & plc is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -47.32% of value to its shares in past 6 months, showing an annual growth rate of 47.31% while that of industry is 21.10. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 96.10% in the current quarter and calculating 86.80% increase in the next quarter. This year revenue growth is estimated to rise 690.50% from the last financial year’s standing.

7 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $4.82 billion for the same. And 7 analysts are in estimates of company making revenue of $4.61 billion in the next quarter that will end on Nov 2022. Company posted $715.58 million and $1.14 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 573.90% while estimating it to be 304.90% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -33.70% during past 5 years. In 2022, company’s earnings growth rate is likely to be around 35.90% while estimates for its earnings growth in next 5 years are of 9.95%.

CCL Dividends

Carnival Corporation & plc is more likely to be releasing its next quarterly report between April 05 and April 11 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Carnival Corporation & plc (NYSE:CCL)’s Major holders

Insiders are in possession of 8.03% of company’s total shares while institution are holding 48.47 percent of that, with stock having share float percentage of 52.70%. Investors also watch the number of corporate investors in a company very closely, which is 48.47% institutions for Carnival Corporation & plc that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at CCL for having 90.11 million shares of worth $1.82 billion. And as of Mar 30, 2022, it was holding 9.06% of the company’s outstanding shares.

The second largest institutional holder is Public Investment Fund, which was holding about 50.83 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 5.11% of outstanding shares, having a total worth of $1.03 billion.

On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund are the top two Mutual Funds which own company’s shares. As of Mar 30, 2022, the former fund manager was holding 24.47 million shares of worth $494.82 million or 2.46% of the total outstanding shares. The later fund manager was in possession of 19.04 million shares on Mar 30, 2022, making its stake of worth around $384.91 million in the company or a holder of 1.91% of company’s stock.

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