Is Carnival Stock a Buy Now?
If you think that the stock market recovery for cruise line stocks has sailed away from you, look again. It's possible that you didn't miss the boat after all. Carnival Corp. (NYSE: CCL) and its smaller peers are profitable again, and back at pre-pandemic performance levels in some key metrics. However, cruise line stocks have pulled back sharply from their recent summertime highs.
Carnival is now trading 35% below its July peak. A lot is going right for the cruising giant with more 90 ships across its various fleets. There are also legit reasons for the market's near-term concerns even after Carnival posted record revenue in its latest quarter. Let's look at the bullish case as well as the bearish knocks to see if Carnival stock is a good buy right now.
Carnival posted strong growth for its fiscal third quarter covering the busy summertime period ending in August. Revenue of $6.9 billion is an all-time high for Carnival, a better-than-expected 59% surge off admittedly depressed prior-year results. A 75% jump in ticket revenue -- accounting for two-thirds of its top-line results -- was only partially held back by a more modest 35% uptick in onboard revenue and everything else.
Source Fool.com
Carnival plc Stock
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the Carnival plc stock is not clear.
As a result the target price of 14 € shows a slightly positive potential of 8.61% compared to the current price of 12.89 € for Carnival plc.
