What's Going On With Carnival's Stock?

Carnival Corporation CCL shares are trading lower Friday after BofA Securities said there was modestly softer pricing in June, based on cruise prices.

What To Know:

BofA Securities released a research note Friday which showed “modestly soſter pricing in ocean markets” as compared to early May. The firm noted 40% of ocean itineraries tracked had soſter pricing. The Western Caribbean region was the weakest region in the survey and decelerated 6% from the previous month.

The reported highlighted pricing for Alaska cruises outperformed much of the group and Carnival saw 5% positive pricing in the region.

Carnival announced this week that it has resumed normal operations at the Port of Baltimore, two months after a Maersk container ship caused the collapse of the Francis Scott Key Bridge.

“We are extremely grateful to the officials and incredible first responders in Baltimore, who’ve shown great leadership and resolve in this difficult time, as well as our supportive partners in Norfolk, whose rapid response allowed us to continue to deliver our scheduled sailings for our guests,” Carnival Cruise Line President Christine Duffy said in a statement.

Carnival is set to report its second-quarter financial results on June 25 before the market open and will host a conference call to discuss the results at 10:00 a.m. ET the same day. According to estimates from Benzinga Pro, analysts expect the company to report losses of 2 cents per share. Carnival's earnings have beat estimates in each of the previous four quarters. 

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Is CCL A Good Stock To Buy?

Wall Street analysts view Carnival on the whole as a Outperform, given the history of coverage over the past three months. John Staszak from Argus Research in Carnival is the most bearish, expecting a 13.04% fall in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, Carnival fell 6.08%, which indicates that opinion soured on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 21.98% over the past year.

A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free.

CCL, RCL, NCLH, VIK Price Action: According to Benzinga Pro, Carnival shares are down 8.06% at $15.16, Royal Caribbean Cruises shares are down 5.16% at $147.27, Norwegian Cruise Line Holdings are down 7.96% at $16.48 and Viking Holdings shares are down 4.9% at $31.38 at the time of publication Friday.

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