Carnival Stock: Buy, Sell, or Hold?
Carnival Corp. (NYSE: CCL) was decimated by the coronavirus pandemic, as demand became nonexistent due to health concerns, and the business was faced with financial difficulties. Nowadays, however, it's kind of a different story. The company is benefiting from a surge in travel spending. It's evident that consumers crave getting back out and exploring the world again.
This trend has been a boon for investors. Shares of Carnival are experiencing a bit of a resurgence, up 41% this year. The S 500, by comparison, has only risen 9% in 2023. For those who have been on the sidelines, is it time to add Carnival to your portfolio? Here's why I don't think that's such a smart move.
During the fiscal 2023 first quarter (ended Feb. 28), Carnival posted financial results that exceeded management's internal projections. Revenue of $4.4 billion, up 173% year over year, represented 95% of pre-pandemic levels. The company saw record bookings. And customer deposits totaled $5.7 billion, a record for the first quarter.
Source Fool.com
Carnival plc Stock
The community is currently still undecided about Carnival plc with 1 Buy predictions and 0 Sell predictions.
With a target price of 14 € there is a slightly positive potential of 5.5% for Carnival plc compared to the current price of 13.27 €.
