Carnival has been experiencing a decline in its earnings at a rate of -45.7% per year on average, according to a financial website called Simply Wall St. The Hospitality industry’s average annual earnings growth is 18.4%. Therefore, CCL earnings are much lower than the industry average.
Carnival has a debt-to-equity ratio of 575.5%, as reported by Simply Wall St. This implies that it has more debt than equity, which forms the difference between its total assets of $51.87 Billion and total liabilities of $46.01 Billion. Carnival’s debt is $33.75 Billion, while its equity is $5.87 Billion.
The market capitalization of Carnival stock is $22.614 Billion and the total revenue is $12.168 Billion. Moreover, the stock’s basic EPS is negative $2.79 and the price-to-earnings ratio is negative 6.6. Moreover, the average volume is 34.417 Million and the current volume is 29.955 Million where the current volume is below average volume.
Moreover, Carnival stock has not done well in the last month, decreasing by 4.14% and surging by 46.43% in the last six months. Carnival Corporation (NYSE: CCL) stock has a positive year-to-date return of 118.93% and a positive one-year return of 89.30%.
Technical Analysis of Carnival Stock Stock Price in 1-D Timeframe
The price action shows that Carnival Corporation’s ( NYSE: CCL) stock price has been on an inclining trend for the last three months, increasing by 71.97% making higher highs and higher lows and rising. At the time of writing, CCL stock took support on support of $17.03 and trading around $18.04.
Therefore, if it maintains the current level, the CCL price could continue to move upward and reach the first and second targets of $19.54 and $21.01. However, if the CCL price fails to sustain the current level and drops, it might hit the nearest support levels of $17.03 and $16.14.
At the time of publishing, Carnival Corporation (NYSE: CCL) is trading above the 20, 50, 100, and 200-day EMA (exponential moving averages), which support the CCL price trend. Hence, the CCL price is expected to move upwards showing bullish views over the daily time frame chart.
The current value of RSI is 55.17 points. The 14 SMA is above the median line at 56.64 points which indicates that Carnival stock is bullish as the RSI is about to cross 14 SMA and also above the neutral line indicating the price is headed for overbought territory.
The MACD line at 0.3572 and signal line at 0.5635 are above the zero line and both lines have narrowed on in each other. A bullish crossover is anticipated next in the MACD oscillator which might signal more bullishness for the Carnival stock price.
Summary
Carnival Corporation (NYSE: CCL) indicates that the investors and traders of the stock price are bullish on the 1-D time frame. The price action reflects a bullish outlook at the time of publishing. The technical analysis tools of the Carnival stock price also support the bullish trend. The MACD, RSI, and EMA highlight positive signals and imply that the uptrend may continue in Carnival’s stock price.
Technical Levels
- Support levels: The nearest support levels for Carnival’s stock price are $17.03 and $16.14.
- Resistance levels: The nearest resistance levels for Carnival stock price are $19.54 and $21.01.
