Carnival Corp. (NYSE:CCL) shares recorded a slight intraday gain of 1.60% to $13.98 on Wednesday, September 27, 2023, despite having been in the red over the past five sessions. The company's stock has seen a year-to-date price performance of 57.08%, significantly outperforming its industry competitors. This is in line with the InvestingPro data which shows a year-to-date price total return of 73.45%.
The company's shares traded at a volume of 25.12 million during the last session, with an average trading volume of 23.92 million shares over the past ten days and 31.72 million shares over the past three months. According to InvestingPro data, the average daily volume for the last three months is 30.09 million shares. Carnival Corp.'s market capitalization stands at $17.69 billion, slightly lower than the InvestingPro adjusted market cap of $18.12 billion.
Analysts have given Carnival Corp. an Overweight consensus recommendation, translating to a mean rating of 2.35. Out of the 21 analysts who have looked at this stock, two recommend selling it, five suggest holding it, twelve recommend buying it, and none have rated it Underweight. This is in line with InvestingPro Tips which suggest that the stock is in oversold territory and that 5 analysts have revised their earnings downwards for the upcoming period.
For the current quarter, Carnival Corp.'s earnings per share (EPS) are expected to be $0.75. Furthermore, Wall Street analysts' consensus price target for the company is $19.29, suggesting a potential increase of 27.53% from its current value. This is slightly lower than the InvestingPro fair value of $20.
Looking ahead, analysts expect Carnival Corp.'s revenue to grow by 229.30% this quarter and then by 89.40% in the subsequent quarter compared to the previous financial year. With eleven analysts predicting revenue for the current quarter to be $6.69 billion and $5.24 billion by end of November 2023. This aligns with InvestingPro Tips which anticipate sales growth in the current year, although it's worth noting that revenue growth has been slowing down recently.
In terms of ownership, insiders own 8% of Carnival Corp.'s total outstanding shares while institutional holders control 51.99%. The Vanguard Group Inc is the largest shareholder of the company with over 113.24 million shares, valued at $2.13 billion as of June 29, 2023. Blackrock (NYSE:BLK) Inc. is the next largest institutional holder with 62.84 million shares, valued at $1.18 billion.
Despite the recent gains, Carnival Corp.'s shares have fallen 11.01% over the past month from $15.82 on August 31 to $13.76, marking a new low. This is consistent with InvestingPro data, which shows a 1-month price total return of -11.01%. The company's short-term technical score of 78 indicates a more bullish trading pattern over the last month compared to 78% of stocks on the market.
The company is set to release its next quarterly earnings in October, an important event for investors to watch. For more insights, consider exploring InvestingPro, which offers additional tips and real-time metrics.
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