Carnival Corp. to report first-quarter results

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Cruise operator Carnival Corp. (CCL) will report its fiscal first-quarter results March 25. Analysts forecast earnings of $0.31 per share, up from $0.20 during the same period last year. The stock is down 10.8% on the year.

Technical Analysis

CCL was recently trading at $48.57, down $7.20 from its 12-month high and $8.05 above its 12-month low. Technical indicators for CCL are bearish and the stock is showing signs of a possible trend reversal. The stock has recent support above $45.75 and is trading above recent resistance. Of the 13 analysts who cover the stock, six rate it a “strong buy”, one rates it a “buy”, and six rate it a “hold”. The stock receives S&P Capital IQ’s 4 STARS “Buy” ranking.

Analysts' Thoughts

The stock sold off sharply at the start of the year with the overall market, but enthusiasm has returned to the stock, which is once again trending higher. The selloff came as Wall Street feared the impact of slowing global growth and its effect on travel and tourism, but as fear over a global slowdown eased, optimism returned. Low oil prices play into the company’s hands, since fuel costs represent such a huge portion of the company’s total overhead. Low energy costs have helped the company grow earnings, which are expected to climb 24.4% this year, and another 16.7% in 2017. The strong growth estimates, in tandem with a P/E of just 21.8, suggests a lot of upside potential for the stock. Use any earnings weakness in the short term as a good buying opportunity to enter the stock for the long run.

CCL
About Carnival Corporation

Carnival is the largest global cruise company, with more than 100 ships on the seas. Its portfolio of brands includes Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe; and P&O Cruises in Australia. Carnival also owns Holland America Princess Alaska Tours in Alaska and the Canadian Yukon. Carnival's brands attract more than 12.5 million guests annually.

  • Last Price:
    $48.38
  • Previous Close:
    $48.84
  • Change:
    $-0.46 (-0.94%)
  • Open:
    $48.89
  • Volume:
    3,071,285
  • Average Volume (100 Day):
    4,116,222
  • Market Capitalization:
    $34.7 B
  • Day's Range:
    $48.30 - $48.95
  • Dividend Yield:
    4.10%
  • 52-week Range:
    $68 - $42.42
  • P-E:
    11.50
  • EPS:
    $4.26
  • Earnings Date:
    9/26/19
  • Ex Dividend Date:
    8/22/19
  • Sector:
    Consumer Cyclical
  • Industry:
    Leisure
  • Analyst Average Recommendation:
    Moderate Buy

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