Carnival Corp stock hits 52-week high at 30.47 USD

Carnival (NYSE:CCL) Corp stock reached a 52-week high, hitting a price of 30.47 USD. According to InvestingPro data, the company, with a market capitalization of $38.84 billion, is currently trading slightly above its Fair Value. This milestone reflects a significant recovery and momentum in the company’s performance over the past year. The stock has experienced a robust 1-year change, increasing by 67.18%. InvestingPro analysis reveals strong fundamentals with a "GREAT" Financial Health Score and impressive revenue growth of 10.82% over the last twelve months. This surge can be attributed to a combination of factors, including an uptick in travel demand and strategic business initiatives by the company. As Carnival Corp continues to navigate the post-pandemic landscape, investors remain optimistic about its growth prospects, as evidenced by the recent high in its stock price. Trading at a P/E ratio of 15.36, the stock shows strong momentum across multiple timeframes, with InvestingPro offering 11 additional exclusive insights about the company’s performance and outlook.

In other recent news, Carnival Corporation (LON:CCL) has closed a $3 billion private offering of 5.75% senior unsecured notes due in 2032. The company plans to use the proceeds to repay borrowings under its first-priority senior secured term loan facility maturing in 2028 and to redeem $2.4 billion of its existing senior unsecured notes due in 2027. Furthermore, Carnival has also closed a €1.0 billion offering of 4.125% senior unsecured notes due in 2031, which will be used to repay borrowings under its secured term loan facilities maturing in 2027 and 2028.

TD Cowen initiated coverage on Carnival with a Buy rating, citing yield growth and a price target of $36.00. The firm noted Carnival’s slower capacity growth, with projections of sub-1% expansion through 2029. This strategy allows the company to focus on yield optimization and margin improvement. Additionally, Goldman Sachs has reiterated its Buy rating and set a price target of $33.00, highlighting demand growth following investor meetings with Carnival executives.

These developments reflect significant financial maneuvers and positive analyst sentiment toward Carnival’s strategic direction.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.