Carnival Stock Has a Lot to Prove This Week
Investors in Carnival Corp. (NYSE: CCL) have been tossed about in the market's icy waters this years. Shares of the world's largest cruise line operator have fallen 13% in 2024. And they're going to be on the move again this week.
Carnival reports its fiscal second-quarter results on Tuesday morning. The stock is losing to the market this year, but momentum has been on the side of its improving fundamentals. A strong report would send the shares higher, but a rough showing would send sellers back to the lifeboats. Let's take a closer look.
Expectations are reasonable heading into this week's telltale quarter. Analysts see Carnival generating revenue of $5.68 billion for the three months that ended in May, a 16% increase over where it landed for the same fiscal quarter a year earlier. The 22% increase it posted three months ago was just shy of where Wall Street pros were perched, so analysts are taking a more conservative stance.
Source Fool.com
