Wednesday, June 29, 2022

Investor Confidence is Falling for Carnival Corporation & Plc (NYSE:CCL)

The Carnival Corporation & Plc (CCL) shares are trading at lower $17.44 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $17.63.

To add more color to this target, the company’s high over the last year is $53.86 and the low is $7.80. Over the last 52 weeks, CCL is down -67.62% while the S&P 500 is down -5.76%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CCL reported a profit of $1.27 billion. Carnival Corporation & Plc also saw revenues increase to $4.79 billion. In addition, CCL has free cash flow of -$410.0 million as of 02-2020 The company’s EBITDA came in at -$141.0 million which compares well with its peers.

CCL booked profit margins of 8.90%, its Return on Equity (ROE) is 7.60%, and its Return on Assets is 4.20%. All told, it is clear that, CCL needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CCL has a short ratio of 1.58 and outstanding shares of 684.00M.

Company Outlook

CCL has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 79.48 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 2.70. Carnival Corporation & Plc CCL also noted assets of $46.94 billion at the end of the last quarter. Investors should also keep an eye on sector updates as CCL has historically followed its peers on positive news.

All told, Carnival Corporation & Plc CCL has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CCL represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Carnival Corporation & Plc CCL is now commanding a market cap of 10.88B and a float of 506.02M. CCL is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CCL stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CCL, either long or short, and we have not been compensated for this article.

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