STOCK OF THE DAY: CARNIVAL CORPORATION

CARNIVAL CRUISE

Carnival Corporation (CCL) is a leisure company and operates cruise ships. The company provides vacation packages and travel to private and public islands. The stock has 52-week low of $7.8 and high of $53.34. The company has market capital of $11.4 billion and is trading around $19 on NYSE. The stock has average daily trading volume of over 77 million shares and beta of 2.0 which indicates two times more volatile compared to stock market.

Carnival is scheduled to report its quarterly earnings on June 30, 2020 before market hours. The company is headquartered in Miami, Florida. Arnold Donald is the current CEO of Carnival Corporation. 20 percent of the Wall Street analysts recommend buying Carnival shares while 15 percent recommends selling and 65 percent recommend holding onto shares of Carnival.

Carnival shares were down over 6 and half percent on June 17, 2020. Analyst have average price target of $16.13 for the stock which shows 15.51 percent downside from its current market price. Shares of Carnival are up more than 30 percent for the month and has climbed up over 80 percent during last three months.

Carnival has over 55 percent institutional ownership and 22.35 percent short interest. Carnival is one of the most shorted stocks. SEC filing shows that more than 1.25 million shares were bought by insiders’ year to date.

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