Is This Your Last Chance to Buy Carnival Stock Under $10?
Take a look at a Carnival (NYSE: CCL) (NYSE: CUK) stock chart, and it's bound to make you seasick. Shares of the world's leading cruise line operator have been lingering in the single digits for nearly two weeks, fetching half of what Carnival was trading at just a year ago.
It doesn't seem fair. The company is fundamentally in a better place than it was when its stock was coasting in the double digits. The cruising industry is back on track. Analysts see record revenue in 2023, followed by a profitability surge next year. There are naturally concerns with how a highly leveraged business will navigate the icy waters of rising interest rates and economic challenges. Things are a little choppy out there. However, you have to like Carnival stock at this point. Let's get into why the shares may not stay below $10 for long.
Despite the depressed share price, Carnival did something positive recently that it hasn't done in more than a year. Revenue nearly tripled in its latest quarter, but the adjusted loss of $0.85 per share was better than the $0.87-per-share deficit that analysts were modeling. It's the first time since early in the pandemic that Carnival didn't fall short of Wall Street's bottom-line expectations.
Source Fool.com
