Carnival is a company that can’t catch a break. Its industry has been plagued by Covid-19-driven turbulence for months. Now even as demand for travel starts to slowly rebound, broad market forces are pushing CCL stock down again. Shares fell yesterday after the cruise line industry lost a battle over a new environmental regulation.
Full Answer
Is Wall Street to blame for Carnival's 2nd down day in row?
Shares of cruise tour company Carnival Corporation (NYSE: CCL) fell 2.5% through 1:55 p.m. EDT Wednesday -- its second down day in a row after missing earnings yesterday. But this time, it was Wall Street -- not Carnival -- to blame for the decline.
Does carnival stock have 8% upside despite a downgrade?
In a note released yesterday after close of trading, Wells Fargo reduced its rating on Carnival stock to underweight -- despite positing a price target of $21 on the stock (which only costs $19.50 right now, implying there's nearly 8% upside despite the downgrade).
What drove Carnival’s price during the most recent trading day?
Carnival (CCL) closed the most recent trading day at $19.02, moving +0.85% from the previous trading session. As Carnival deploys its fleet, passenger counts and yields could rise at a faster pace than we currently anticipate if capacity limitations are repealed.
Did Susquehanna Financial Group just initiate positive coverage on Carnival?
It just initiated positive coverage for two of the cruise line's rivals. Carnival (NYSE: CCL) is down today after Susquehanna Financial Group initiated a bearish take on the stock. While the firm thinks Wall Street will see the travel sector recover, it doesn’t think that all cruise and airline stocks have the same growth potential.
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Why did Carnival stock drop?
On Wednesday, Morgan Stanley issued another warning on Carnival's debt load, citing weak sales, growing economic risks, and the rising cost of interest on the debt. All in all, the pandemic has turned Carnival Corporation into one that is likely to see some very difficult times ahead.
Why are Cruise Line stocks down?
Cruise stocks were tumbling to their lowest point since 2020 on Thursday as fears intensified over rising inflation and a potential recession. Carnival (ticker: CCL ) was down 9.5% to $8.91, and was on track for its lowest close since April 2020.
What is the prediction for Carnival cruise stock?
Stock Price Forecast The 19 analysts offering 12-month price forecasts for Carnival Corp have a median target of 13.00, with a high estimate of 29.00 and a low estimate of 7.00. The median estimate represents a +47.39% increase from the last price of 8.82.
Should I sell my Carnival stock?
There are currently 3 sell ratings, 9 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" Carnival Co.
What is happening with Carnival Cruise Lines?
The entire US fleet will be back sailing before the end of March 2022. The two Carnival cruise ships based out of Australia are to remain on hold even longer. Carnival Splendor cruises are cancelled through April 8, 2022, and Carnival Spirit sailings are cancelled through April 10, 2022.
Is Carnival stock a good buy?
Carnival Stock Forecast CCL is down nearly 80% since the beginning of 2020. Since the start of 2022, the stock is down nearly 50%. There was actually quite a bit of good news in Carnival's Q1 earnings report. However, it doesn't seem like any of this has been enough to sway investors.
Is CCL overvalued?
While CCL stock has been rallying among other discretionary stocks, reality has started setting in now, and most of the gains have now been wiped away. In the past month, the share price lost 16.8%. The stock is still gross overvalued, as it trades at over 27 times its forward enterprise value to sales.
What's the highest Carnival stock has been?
The latest closing stock price for Carnival as of June 30, 2022 is 8.65.The all-time high Carnival stock closing price was 71.94 on January 29, 2018.The Carnival 52-week high stock price is 27.39, which is 216.6% above the current share price.More items...
What perks do Carnival stockholders get?
Carnival Corporation Shareholder Benefit Offer: $250 Onboard Credit per Stateroom on Sailings of 14 days or longer. $100 Onboard Credit per Stateroom on Sailings of 7-13 days. $50 Onboard Credit per Stateroom on Sailings of 6 days or less.
Will Carnival Cruise Line Recover?
In May 2022, Carnival announced that it had relaunched its entire Carnival Cruise Line operations, as well as 80% of its Princess Cruises operations.
Does CCL pay a dividend?
CCL does not currently pay a dividend.
Which Cruise lines are owned by Carnival?
The company's portfolio of global cruise line brands includes Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, P&O Cruises (Australia), Costa Cruises, AIDA Cruises, P&O Cruises (UK) and Cunard.
Is Carnival stock a Buy, Sell or Hold?
Carnival stock has received a consensus rating of hold. The average rating score is and is based on 6 buy ratings, 12 hold ratings, and 9 sell rati...
What was the 52-week low for Carnival stock?
The low in the last 52 weeks of Carnival stock was 11.04. According to the current price, Carnival is 100.09% away from the 52-week low.
What was the 52-week high for Carnival stock?
The high in the last 52 weeks of Carnival stock was 30.04. According to the current price, Carnival is 36.78% away from the 52-week high.
What are analysts forecasts for Carnival stock?
The 27 analysts offering price forecasts for Carnival have a median target of 22.96, with a high estimate of 42.00 and a low estimate of 10.00. The...
What happened
Shares of Carnival ( CCL 2.28% ) fell as much as 4.3% on Thursday before finally closing the day down 2.6%. If you want to know why, look to Royal Caribbean ( RCL 2.92% ).
So what
All three of the major cruise line stocks suffered declines on Thursday, including Norwegian Cruise Line Holdings ( NCLH 1.45% ), too.
NYSE: CCL
After 18 long months of watching cruise line after cruise line issue debt to raise funds to survive a long global shutdown, you can't blame investors for being nervous about the prospect of a new round of debt issuances.
Now what
The U.S. yesterday clocked more than 135,000 new coronavirus cases, and the delta variant of COVID-19 still seems to be spreading like a weed. The potential that the Centers for Disease Control and Prevention will reinstate a cruise ban in the midst of a fourth wave of coronavirus cannot be discounted.
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Why Carnival Cruise Line Stock Fell Today
Carnival (NYSE: CCL) stock attempted to rise above the market on Monday but came up short. The cruise line operator's shares jumped 2% in early trading before falling to a 3% decline by 3 p.m. ET on a down day for the S&P 500.
How Carnival Cruise Line Makes Money: Cruises and Tours
Carnival, which is slowly recovering from the worst of the COVID-19 pandemic, gets most revenue from cruise operations in North America and Australia.
