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Will Carnival Corp. (CCL) benefit from Wall Street bulls Calls?

Carnival Corp. (NYSE: CCL) is -16.50% lower on its value in year-to-date trading and has touched a low of $8.70 and a high of $19.74 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CCL stock was last observed hovering at around $16.26 in the last trading session, with the day’s loss setting it -0.78%.

Currently trading at $15.48, the stock is -5.82% and -3.55% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 35.73 million and changing -4.80% at the moment leaves the stock -2.08% off its SMA200. CCL registered 52.36% gain for a year compared to 6-month gain of 12.83%. The firm has a 50-day simple moving average (SMA 50) of $2.22 and a 200-day simple moving average (SMA200) of $10.41.

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The stock witnessed a -3.25% loss in the last 1 month and extending the period to 3 months gives it a -16.50%, and is -9.53% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.24% over the week and 3.57% over the month.

Current P/E ratio is 60.23 and Fwd P/E is 10.89. Profit margin for the company is 1.79%. Distance from 52-week low is 77.93% and -21.58% from its 52-week high. The company has generated returns on investments over the last 12 months (1.11%).

Carnival Corp. quarterly earnings per share for the current quarter are estimated at -$0.01 with sales reaching $5.69B over the same period., but quarterly earnings will post 13.90% year-over-year.

Carnival Corp. (CCL) Top Institutional Holders

1,093 institutions hold shares in Carnival Corp. (CCL), with institutional investors hold 65.69% of the company’s shares. The shares outstanding are 1.12B, and float is at 944.57M with Short Float at 9.79%. Institutions hold 60.53% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 113.24 million shares valued at $2.13 billion. The investor’s holdings represent 10.12% of the CCL Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 62.84 million shares valued at $1.18 billion to account for 5.61% of the shares outstanding. The other top investors are Public Investment Fund which holds 50.83 million shares representing 4.54% and valued at over $957.15 million, while State Street Corporation holds 3.39% of the shares totaling 37.91 million with a market value of $713.91 million.

Carnival Corp. (CCL) Insider Activity

The most recent transaction is an insider sale by Bernstein David,the company’sCFO & CAO. SEC filings show that Bernstein David sold 153,995 shares of the company’s common stock on Feb 15 ’24 at a price of $15.37 per share for a total of $2.37 million. Following the sale, the insider now owns 0.18 million shares.

Carnival Corp. disclosed in a document filed with the SEC on Jan 19 ’24 that Bernstein David (CFO & CAO) sold a total of 34,020 shares of the company’s common stock. The trade occurred on Jan 19 ’24 and was made at $17.05 per share for $0.58 million. Following the transaction, the insider now directly holds 0.34 million shares of the CCL stock.

Still, SEC filings show that on Oct 19 ’23, WEISENBURGER RANDALL J (Director) acquired 100,000 shares at an average price of $11.50 for $1.15 million. The insider now directly holds 378,368 shares of Carnival Corp. (CCL).

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