Now Is A Good Time To Buy Carnival Corp. (NYSE: CCL)

ZM Stock

During the last session, Carnival Corp. (NYSE:CCL)’s traded shares were 26.55 million, with the beta value of the company hitting 2.55. At the end of the trading day, the stock’s price was $15.34, reflecting an intraday loss of -0.90% or -$0.14. The 52-week high for the CCL share is $19.74, that puts it down -28.68 from that peak though still a striking 43.29% gain since the share price plummeted to a 52-week low of $8.70. The company’s market capitalization is $19.39B, and the average intraday trading volume over the past 10 days was 47.23 million shares, and the average trade volume was 32.87 million shares over the past three months.

Carnival Corp. (NYSE:CCL) trade information

Carnival Corp. (CCL) registered a -0.90% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.90% in intraday trading to $15.34, hitting a weekly high. The stock’s 5-day price performance is -9.92%, and it has moved by -4.54% in 30 days. Based on these gigs, the overall price performance for the year is 51.13%. The short interest in Carnival Corp. (NYSE:CCL) is 92.5 million shares and it means that shorts have 3.23 day(s) to cover.

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Carnival Corp. (CCL) estimates and forecasts

Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 96.80% this quarter and then jump 26.70% in the quarter after that. In the rating firms’ projections, revenue will increase 13.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $5.69 billion as predicted by 16 analyst(s). Meanwhile, a consensus of 16 analyst(s) estimates revenue growth to $7.76 billion by the end of Aug 2024.

CCL Dividends

Carnival Corp. is due to release its next quarterly earnings between March 25 and March 29. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Carnival Corp. (NYSE:CCL)’s Major holders

Carnival Corp. insiders own 7.85% of total outstanding shares while institutional holders control 60.53%, with the float percentage being 65.69%. Vanguard Group Inc is the largest shareholder of the company, while 1,093 institutions own stock in it. As of Jun 29, 2023, the company held over 113.24 million shares (or 10.12% of all shares), a total value of $2.13 billion in shares.

The next largest institutional holding, with 62.84 million shares, is of Blackrock Inc.’s that is approximately 5.61% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $1.18 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Carnival Corp. (CCL) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 31.3 million shares. This amounts to just over 2.80 percent of the company’s overall shares, with a $589.34 million market value. The same data shows that the other fund manager holds slightly less at 23.91 million, or about 2.14% of the stock, which is worth about $450.29 million.