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Carnival Corp (CCL) Stock Up 2.92%; Discloses Need to Renegotiate Loan Covenants

Wednesday, July 01, 2020 09:53 AM | Nick Dey

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Carnival Corp (CCL) Stock Up 2.92%; Discloses Need to Renegotiate Loan Covenants

Carnival Corp (CCL) is up 2.92% at $16.9 per share so far Wednesday. As part of the announcement of a new loan agreement, the company said if it is are not able to resume operations in the near-term, it will have to renegotiate the terms in some of its credit facilities, failure to secure a new agreement may cause them to be in violation of covenants on those agreements, which may constitute a default or limit the company’s borrowing capacity.

Carnival Corp (CCL) stock has fallen -63.68% over the last 12 months, and the average rating from Wall Street analysts is a Sell. InvestorsObserver’s proprietary scoring system, gives CCL stock a score of 26 out of a possible 100.

That score is mainly influenced by a short-term technical score of 8. CCL’s score also includes a long-term technical score of 8. The fundamental score for CCL is 63. In addition to the average rating from Wall Street analysts, CCL stock has a mean target price of 21.692. This means analysts expect the stock to rise 28.36% over the next 12 months.

What’s Happening with CCL Stock Today

Carnival Corp (CCL) stock is up 2.99% while the S&P 500 has gained 0.37% as of 9:32 AM on Wednesday, Jul 1. CCL has gained $0.49 from the previous closing price of $16.41 on volume of 1,095,174 shares. Over the past year the S&P 500 is up 4.66% while CCL has fallen -63.68%. CCL earned $2.70 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 6.51.

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