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Carnival Corp CCL

Company report, carnival continues to benefit from robust consumer demand for travel.

Carnival remains the largest company in the cruise industry, with nine global brands and 92 ships at the end of fiscal 2023. The global cruise market has historically been underpenetrated, offering cruise companies a long-term demand opportunity. Additionally, the repositioning and deployment of ships to faster-growing and underrepresented regions like Asia-Pacific had helped balance the supply in high-capacity regions like the Caribbean and Mediterranean prior to the pandemic, a factor which the firm can again utilize to help optimize forward pricing. With an European demand and occupancy profile that is converging on normalized levels, we believe there is still support for improving economic performance at Carnival.

Price vs Fair Value

Bulls say, bears say.

As Carnival continues to optimize occupancy, passenger counts and yields could rise at a faster pace than we currently anticipate.

The media accessing negative experience commentary regarding cruise incidents could weigh on Carnival's brand image and pricing leverage, making new cruisers hesitant to try cruising. A decrease in new cruisers leads to fewer repeat cruisers.

Consumer stocks made a comeback in June - but U.S. households are still feeling the pinch

Love by britto high-end specialty restaurant officially opens onboard new sun princess, princess cruises launches cruise industry's best price guarantee on 2025 & 2026 cruises, carnival cruise line's stock soars after company swings to a profit, carnival corporation & plc reports record second quarter revenues, operating income and booking levels, outperforms second quarter guidance and raises full year 2024 guidance, wall street sees corporate profit margins creeping toward 2021 levels, as three household names prep earnings, princess cruises unveils exclusive vip package for "the love boat" celebration at sea cruise with revered original cast, double cruise credits for captain's circle guests with princess cruises' new loyalty accelerator program, trading information, key statistics, company profile, competitors.

• Norwegian Cruise Line Holdings Ltd NCLH
• Wyndham Hotels & Resorts Inc Ordinary Shares WH
• Royal Caribbean Group RCL

Financial Strength

Profitability, travel services industry comparables, sponsor center.

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Carnival (CCL)

(delayed data from nyse).

+0.11 (0.59%)

Updated Jun 28, 2024 04:00 PM ET

After-Market: $18.71 -0.01 (-0.05%) 7:58 PM ET

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Industry: Leisure and Recreation Services

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Carnival Corp (CCL)

Fundamentals.

• Market Capitalization, $K 21,009,828
• Shares Outstanding, K 1,122,320
• Annual Sales, $ 21,593 M
• Annual Income, $ -75,000 K
• 60-Month Beta 2.57
• Price/Sales 0.97
• Price/Cash Flow 8.23
• Price/Book 3.07
• Price/Earnings ttm 24.49
• Earnings Per Share ttm 0.34
• Most Recent Earnings $0.11 on 06/25/24
• Next Earnings Date N/A
• Annual Dividend & Yield N/A (0.00%)
• Most Recent Dividend 0.500 on 02/20/20

SIC-4400 Water Transportation

Leisure & Recreation Services

Indices S&P 500

Indices S&P 500 Consumer Discret

Indices Russell 1000

Indices Russell 3000

Indices S&P 500 Value

Indices S&P 500 Growth

Indices S&P 500 ESG

Options Overview Details

• Implied Volatility 36.55% ( -1.34% )
• Historical Volatility 52.69%
• IV Percentile 0%
• IV Rank 1.12%
• IV High 63.04% on 09/26/23
• IV Low 36.25% on 05/10/24
• Put/Call Vol Ratio 0.37
• Today's Volume 104,628
• Volume Avg (30-Day) 119,483
• Put/Call OI Ratio 1.10
• Today's Open Interest 1,882,016
• Open Int (30-Day) 1,924,155

Analyst Rating / Earnings Estimates

Current rating, earnings estimates - current qtr 08/31/24.

• Average Estimate 1.15
• Number of Estimates 6
• High Estimate 1.18
• Low Estimate 1.10
• Prior Year 0.86
• Growth Rate Est. (year over year) +33.72%

Price Performance

Most recent stories.

The company is taking full advantage of a hot, seemingly long-tail trend.

Find out which cruise line -- Carnival or Royal Caribbean -- might offer better returns as the industry continues its robust recovery.

Why the stock could have more upside ahead.

Earnings and guidance wowed investors.

Royal Caribbean Cruises has recently outperformed the Nasdaq Composite, and analysts remain optimistic about the stock’s prospects given its optimistic demand outlook for 2024.

A 20% decline may not be enough to justify the risks of owning Norwegian.

September S&P 500 E-Mini futures (ESU24) are up +0.03%, and September Nasdaq 100 E-Mini futures (NQU24) are up +0.12% this morning as U.S. Treasury yields marched higher, while FedEx shares surged following...

The S&P 500 Index ($SPX ) (SPY ) Tuesday closed up +0.39%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.76%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +1.16%. Stock indexes Tuesday...

Stocks that traded heavily or had substantial price changes on Tuesday: Carnival, Enovix rise; Pool, SolarEdge fall

CCL earnings call for the period ending March 31, 2024.

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 72% Buy with a Strongest short term outlook on maintaining the current direction.

Long term indicators fully support a continuation of the trend.

The market is in highly overbought territory. Beware of a trend reversal.

See More Share

Business Summary

Ccl related etf s, ccl related stocks.

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Key Turning Points

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Brands Logos

• Carnival Cruises
• P&O Australia
• P&O Cruises
• Princess Cruises
• Holland America

Stock Performance

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AIDA Cruises is the market leader in the German-speaking cruise market. Home of the smile, AIDA Cruises is the epitome of a premium-quality, relaxing cruise and operates one of the world’s most state-of-the-art fleets. Visit: www.aida.de

Carnival Cruise Line, also known as America’s Cruise Line, is a leader in contemporary cruising and operates a fleet of ships designed to provide fun and memorable vacation experiences at a great value. Visit: www.carnival.com

Costa Cruises delivers Italy’s finest at sea, bringing modern Italian lifestyle to its ships to provide guests with a true European experience that embodies a unique passion for life through warm hospitality, entertainment and gastronomy. Visit: www.costacruise.com

Cunard is the epitome of British refinement for travelers who relish the line’s impeccable White Star Service, gourmet dining, world-class entertainment, and the legacy of historic voyages and transatlantic travel. Visit: www.cunard.com

Holland America Line's premium fleet of spacious, elegant mid-sized ships feature sophisticated five-star dining, extensive entertainment and activities, innovative culinary enrichment programs and compelling worldwide itineraries. Visit: www.hollandamerica.com

P&O Cruises (UK) is Britain’s favorite cruise line with a fleet of ships combining genuine service and a sense of occasion and attention to detail, ensuring passengers have the holiday of a lifetime, every time. Visit: www.pocruises.co.uk

P&O Cruises (Australia) provides a quintessential holiday experience for Australians and New Zealanders, taking them to some of the world's most idyllic and hard-to-reach places across Asia and the South Pacific. Visit: www.pocruises.co.au

Princess is the world’s leading international cruise line and tour company operating a fleet of modern cruise ships, renowned for the innovative design and wide array of choices in dining, entertainment and amenities. Visit: www.princess.com

Seabourn provides ultraluxury cruising vacations in a unique, small-ship style that focuses on genuine, intuitive service, all-suite accommodations, superb cuisine and unique experiences in destinations worldwide. Visit: www.seabourn.com

Carnival Corp raises annual profit forecast again on steady cruise demand

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Granth reports on the North American Consumer and Retail sector, covering a broad range of companies from consumer packaged goods and restaurants to department stores and apparel retailers. Granth's work on the website usually appears on the Retail & Consumer page of Reuters Business section. He holds a post-graduate degree in international relations and area studies and has previously worked as a research analyst.

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Carnival shares rise as flood of demand for cruise bookings bolsters record quarterly results

After cruises became the canary in the coal mine for the tourism industry’s decimation during the pandemic, bookings have come roaring back. The biggest winner is cruise companies, with Carnival reporting on Tuesday that it had reached record revenue in the second quarter of 2024.

The outlook for the cruise giant is even rosier for 2025, with advanced bookings set to be higher than in 2024. Analysts at UBS maintained their buy rating on the stock, setting a target price of $21. Carnival shares rose Tuesday on the news, reaching $18.40 at time of publication after hovering around $16 at the start of the week.

A rising tide

After a disastrous 2020 and 2021, which saw cruise companies lose tens of billions of dollars and become saddled with debt, they won back customers with what a Morningstar analyst referred to as "diplomatic pricing"—offering deep discounts and packaging together amenities.

In Tuesday's second-quarter earnings release, Carnival announced it had prepaid around $6.6 billion in debt over the last 15 months, reducing its debt by nearly 40%. With growing revenue, however, the company also has invested in infrastructure, including installing the Elon Musk–run internet service Starlink across its fleet and launching a new ship called Queen Anne, which can hold 3,000 passengers.

Competition remains steep, with Royal Caribbean unveiling the Icon of the Seas, the world's largest cruise ship, in January. Carnival's market cap of $23 billion is just over half of Royal Caribbean's $41 billion, though it remains the largest company in the industry by number of boats. The Switzerland-based Viking remains the smallest of the big three, with a market cap of around $13 billion.

Despite the positive outlook, UBS analysts warned that an economic slowdown, especially in the U.S. and Europe, could impact booking levels and pricing. Fuel prices remain another concern. Still, Tuesday's financials outperformed the analysts' expectations, largely driven by increased bookings and higher pricing. According to a separate report from Morningstar, booking patterns indicate that 2025 could yield higher results than the 3% previously predicted.

A May report from the trade association Cruise Lines International Association attributed the growth to new passengers, with 27% of "cruisers" over the past two years embarking on their first voyage, an increase of 12% over the past year. According to the report, cruise tourism rebounded faster than other forms of travel after the pandemic, with 31.7 million passengers in 2021 compared with pre-pandemic numbers of 29.7 million in 2019.

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• News for Carnival

Carnival Stock Price Prediction: The Next Destination for CCL Could Be $20

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Cruise stocks were hot in 2021, but many investors don’t even want to look at Carnival (NYSE: CCL ) in 2024. Carnival stock has been directionless and just seems to have lost its way. However, I encourage patience and persistence as Carnival’s shareholders will have their magic moment in due time.

We have to be realistic, as the Carnival share price isn’t likely to revisit its pre-COVID-19 price levels soon. What about a near-term price target of $20, though? It’s possible if Carnival can capitalize on travel-pricing trends, so investors should get on board and prepare for a thrilling trip.

Carnival’s ‘Hugely Symbolic’ Change

First, here’s a news item that might not seem like a big deal, at first glance. However, it could represent a major change for Carnival Carnival in the long run.

In March of 2025, Carnival will “sunset” its P&O Cruises Australia brand and “fold” its Australia-based operations into the company’s flagship Carnival Cruise Line brand. This will allow Carnival to expand and focus on its Carnival Cruise Line brand.

Carnival CEO Josh Weinstein seems to view this as a way for the company to accelerate its build-out. “[G]uest demand remains incredibly strong so we’re leveraging our scale in an even more meaningful way by absorbing an entire brand into the world’s most popular cruise line,” Weinstein explained.

Moreover, Melius Research analyst Conor Cunningham believes that Carnival’s brand realignment “could be the catalyst needed to start a rally.” Cunningham added, “Carnival’s decision to consolidate a brand may appear small at face value, but it is hugely symbolic of the change underway from CEO Josh Weinstein and Co.”

Carnival Could Get a Boost From Budget-Conscious Travelers

Not long ago, Citigroup analyst James Hardiman noticed a trend in the travel market. “The price of a cruise vacation relative to a comparable land-based vacation/hotel stay is as wide as it has ever been, and has expanded significantly since the onset of the pandemic,” Hardiman observed.

Travel expenses are high nowadays. Many people believe they’re getting more bang for their buck from a cruise, as opposed to a land-based trip. That’s a positive trend for Carnival, of course.

Furthermore, this perceived cruise-versus-land-travel price difference could allow Carnival to raise its prices somewhat. Hardiman proposes a compelling argument along this line:

“We would argue that this gap should be smaller than ever given significant advancements made to the cruise experience and, conversely, deteriorating customer satisfaction with traditional hotels/resorts.”

If cruise demand remains robust in 2024 and 2025, Carnival could raise its prices and, therefore, its profit margins. So, investors should keep tabs on travel trends as they may have a durable, positive impact on Carnival.

Carnival Stock: Put $20 on Your Itinerary

It certainly looks like Weinstein wants to consolidate Carnival’s operations into one giant, expanding brand. It won’t happen overnight, but this strategy could pay off big-time for Carnival and its shareholders.

Meanwhile, travel-market trends might enable Carnival to raise its prices and its profit margins somewhat. Given these tailwinds, investors should expect Carnival stock to pick a direction soon — and that direction will be higher.

It’s difficult to time the move, but the Carnival share price should reach $20 sooner or later. It could even happen in 2024’s second half, so start a small share position today.

On the date of publication, David Moadel  did not have (either directly or indirectly) any positions in the securities mentioned in this article.  The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com  Publishing Guidelines .

David Moadel has provided compelling content – and crossed the occasional line – on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.

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The post Carnival Stock Price Prediction: The Next Destination for CCL Could Be $20 appeared first on InvestorPlace .

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