Travel stocks have surged since the Tokyo Crash of August 2024, with the CRUZ ETF outperforming the S&P 500, driven by high travel demand. Carnival Corporation is a buy due to strong earnings, record customer deposits, and positive growth prospects despite some valuation concerns and macro risks. CCL's Q3 results showed a significant earnings beat, record adjusted EBITDA, and strong future bookings, with a high expected earnings swing for Q4.
Carnival (CCL) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Carnival PLC (LSE:CCL) finals next Friday (20 September) should be the icing on a bumper year for the cruise operator. Shares are up more than 50% year-to-date with the group confirming its recovery with a record third quarter and upgrade to underlying cash profit (EBITDA) to US$6 billion from $5.8 billion.
The latest trading day saw Carnival (CCL) settling at $26.18, representing a -1.62% change from its previous close.
Carnival Corp is growing its land-based portfolio with an expanded private island and a new resort. Carnival expects to spend $600 million on the coming Celebration Key.
CCL's strong booking trends and improved financial position reflect a positive market sentiment.
Carnival (CCL 1.73%) (CUK 1.95%) has sailed through this year, reporting record revenue, soaring demand, and progress toward its long-term targets. The stock price has followed, with the shares heading for a gain of more than 35%.
CCL's Princess Cruises reports record-breaking bookings during the Black Friday to Cyber Monday period, underscoring robust demand for cruise travel.
The first 11 months of the year have been good to investors of cruise line stocks. December could be the cherry on top.
With less than a month remaining in this year, it's fair to say that 2024 has been great for the stock market. The S&P 500 index, which is often treated as the benchmark for broader market performance, has risen roughly 28% year to date.
Carnival (CCL 0.60%) (CUK 0.54%) and Royal Caribbean Cruises (RCL 2.77%) claim the No. 1 and No. 2 spots, respectively, in the cruise line industry.
The big pullback Carnival Corporation (CCL 0.60%) stock's suffered since 2018 makes enough sense on the surface. The COVID-19 contagion wrecked the leisure cruise industry.