CARNIVAL Stock Forecast: Stock up by 42% in last 30 days. Is the momentum here to stay?

CARNIVAL Stock Forecast: Stock up by 42% in last 30 days. Is the momentum here to stay?

Carnival Stock Forecast: Gross profit was $1.7 million which is a significant increase from a loss of $0.214 billion in the same quarter, the previous year, and up 247% Q-o-Q.


CARNIVAL Stock Forecast: Price today

The company’s stock price reached its 30-year lowest to $7.02, due to its Quarter 3 results which disappointed the investors.

CARNIVAL Stock Forecast: Recent Performance

5 days 1 monthYTD
CARNIVAL 1% 42.63% -57.50%
NASDAQ-2.47% 0.70% -32.95%

CARNIVAL Stock Forecast: Latest News

Carnival Holdings closed its offering of $2.03 billion: Carnival holdings (Carnival Corporation’s subsidiary) closed its private offering of $2.03 billion aggregate amount of Senior notes due 2028. The company plans to use this to repay its credit amount and for debt payments and general corporate purposes. Carnival corporation also closed its convertible notes exchange of $87 million aggregate principal amount of 5.75% senior notes due 2023 for the 2024 notes. 

Company in losses: The Company has released its quarter 3 results recently, where the losses stood at $700 million and revenue at $4.3 billion which is way less than analysts’ expectations which were $4.9 billion. Its Adjusted EBITDA was over $300 million, which turned positive for the first time since the resumption of its cruise services.

Canada, US lifting restrictions: Countries like the U.S and Canada lifted the pandemic border restrictions such as vaccination and covid testing requirements and China is expected to lift restrictions to start global travel which is a piece of good news for the cruise company, due to which the bookings for 2023 are expected to increase.

The stock prices plunged also due to the company’s statement that they may face higher operating costs, net losses, and, delayed profitability in the 4th quarter due to various problems such as inflation, higher fuel prices, and interest rates, and the Russia – Ukraine war.

CARNIVAL Stock Forecast: Latest Video

YouTube video

CARNIVAL Stock Forecast: Price target

 Overall Average$11
 Tigress Financial$13
 Susquehanna Bancshares$8
Wells Fargo & Company$7
Credit Suisse$22
 Barclays$10
 Morgan Stanley$6

Previously Morgan Stanley warned that Carnival’s stock can reach $0 in the worst case if the economy falls into recession and the company can go bankrupt and out of business if operating conditions become worse. 

CARNIVAL Stock Forecast: Q3 Results

  • Total revenue was at $4.3 billion, up 688% year-over-year and up 79% q-q.
  • Net income (loss) is $0.7 billion, which decreased compared to the $1.8 billion loss in the previous quarter and $2.8 billion in the same quarter, last year.
  • Gross profit was $1.7 million which is a significant increase from a loss of $0.214 billion in the same quarter, the previous year, and up 247% q-q.
  • Total operating expenses were $1.9 billion, up 1.4% q-q and up 45.6% y-y.
  • Operating loss is $0.279 billion, compared to the $1.47 billion loss in the previous quarter.
  • The diluted loss per share is $0.67, compared to $1.61 in the previous quarter.
  • Adjusted EBTIDA was over $300 million.
  • Its total assets are at $8.4 billion and total liabilities are $12.95 billion with $28.5 billion in long-term debt.

CARNIVAL Stock Forecast: Latest Tweet

CARNIVAL Stock Forecast: Conclusion

The company is slowly reviving with increased bookings and occupancy rates (at 84%) but the huge losses and high debts are a great disappointment. Moreover, the company is expecting negative losses, and EBITDA to decrease in the 4th quarter which is leading to a fall in the stock price. The recession and the slow economy can also be seen as short-term risks for the company. So, investors should be mindful of all the negative factors before taking a call.

Bommu Vaishnavi

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