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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NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100