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Carnival Corporation & plc (NYSE: CCL)’s Stock Is Up 44.45%, A Prediction For What Could Come Next

During the last session, Carnival Corporation & plc (NYSE:CCL)’s traded shares were 40.7 million, with the beta value of the company hitting 2.19. At the end of the trading day, the stock’s price was $11.00, reflecting an intraday gain of 3.09% or $0.33. The 52-week high for the CCL share is $14.20, that puts it down -29.09 from that peak though still a striking 44.45% gain since the share price plummeted to a 52-week low of $6.11. The company’s market capitalization is $14.10B, and the average intraday trading volume over the past 10 days was 33.53 million shares, and the average trade volume was 36.89 million shares over the past three months.

Carnival Corporation & plc (CCL) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.60. CCL has a Sell rating from 2 analyst(s) out of 22 analysts who have looked at this stock. 9 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 8 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.35.

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Carnival Corporation & plc (NYSE:CCL) trade information

Carnival Corporation & plc (CCL) registered a 3.09% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 3.09% in intraday trading to $11.00 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -2.48%, and it has moved by 25.57% in 30 days. Based on these gigs, the overall price performance for the year is -6.46%. The short interest in Carnival Corporation & plc (NYSE:CCL) is 136.56 million shares and it means that shorts have 4.16 day(s) to cover.

The consensus price target of analysts on Wall Street is $11.20, which implies an increase of 1.79% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $6.80 and $18.00 respectively. As a result, CCL is trading at a discount of -63.64% off the target high and 38.18% off the low.

Carnival Corporation & plc (CCL) estimates and forecasts

Statistics show that Carnival Corporation & plc has outperformed its competitors in share price, compared to the industry in which it operates. Carnival Corporation & plc (CCL) shares have gone up 16.16% during the last six months, with a year-to-date growth rate more than the industry average at 93.79% against 13.10. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 78.70% this quarter and then jump 232.80% in the quarter after that. In the rating firms’ projections, revenue will increase 72.10% compared to the previous financial year.

Revenue for the current quarter is expected to be $4.76 billion as predicted by 12 analyst(s). Meanwhile, a consensus of 12 analyst(s) estimates revenue growth to $6.6 billion by the end of Aug 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.4 billion and $4.9 billion respectively. In this case, analysts expect current quarter sales to grow by 98.20% and then jump by 34.80% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -28.00%. While earnings are projected to return 39.00% in 2023.

CCL Dividends

Carnival Corporation & plc is due to release its next quarterly earnings between June 22 and June 26. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Carnival Corporation & plc insiders own 8.03% of total outstanding shares while institutional holders control 53.35%, with the float percentage being 58.01%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 941 institutions own stock in it. As of Mar 30, 2023, the company held over 113.35 million shares (or 10.16% of all shares), a total value of $1.15 billion in shares.

The next largest institutional holding, with 62.24 million shares, is of Blackrock Inc.’s that is approximately 5.58% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $631.7 million.

Also, the Mutual Funds coming in first place with the largest holdings of Carnival Corporation & plc (CCL) shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 30.45 million shares. This amounts to just over 2.73 percent of the company’s overall shares, with a $245.44 million market value. The same data shows that the other fund manager holds slightly less at 23.29 million, or about 2.09% of the stock, which is worth about $187.69 million.

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