With Shares Down Nearly 80%, Is Now the Time to Buy This Cruise Line Stock?
Carnival Corp. (NYSE: CCL) is back from a consumer standpoint. Bookings are at all-time highs, and with most space on its cruises booked far in advance, the company continues to add to its fleet.
Nonetheless, the stock has pulled back nearly one-third from recent highs and around 80% from its all-time high. At least part of the blame probably lies with Carnival's massive debt hangover for the year-long pandemic-related shutdown. Does that mean investors should take advantage of the sales price of this cruise line stock?
In most respects, Carnival has put the pandemic in the rearview mirror. The industry defines 100% occupancy as when two or more people occupy a cabin, and Carnival reached 104% capacity in the second quarter of fiscal 2024 (ended May 31). A percentage above 100% indicates some cabins had more than two passengers.
Source Fool.com
Carnival plc Stock
With 0 Sell predictions and 1 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 12.18% compared to the current price of 12.48 € for Carnival plc.
