What's Going On With Carnival Stock?
Portfolio Pulse from Erica Kollmann
Carnival Corporation (NYSE:CCL) shares are trading lower after the company reported its third-quarter earnings and issued weaker-than-expected guidance for the fourth quarter. Despite beating third-quarter expectations, Carnival's forecast of 5 cents per share for the fourth quarter fell short of the consensus estimate of 7 cents. Analysts have mixed ratings, with Mizuho maintaining an Outperform rating and raising the price target to $26, while Morgan Stanley maintained an Underweight rating but increased the price target to $16.50. The stock is down 4.25% at $17.70 as investors digest the news.
October 01, 2024 | 2:49 pm
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Carnival Corporation's stock is trading lower after issuing weaker-than-expected Q4 guidance despite beating Q3 expectations. Analysts have mixed ratings, with price targets ranging from $16.50 to $26.
Carnival's weaker-than-expected Q4 guidance has led to a negative short-term impact on its stock price, despite beating Q3 expectations. The mixed analyst ratings and revised price targets reflect uncertainty, contributing to the stock's decline.
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