Carnival Corporation trades in the green for seven straight days

Carnival Corporation (NYSE:CCL) shares traded in the green on Wednesday, making it the seventh straight day of gains. The stock closed up 3.09% at $18.37.

CCL has gained 25.8% in the last 12 months and 18.86% in the last one month. YTD, the stock has trailed compared to the broader S&P 500 market, which rose 14.67%, vs the company’s loss of 3.88%.

Looking at Seeking Alpha’s Quant Ratings, this Florida-based company has a Strong Buy rating with a score of 4.64 out of 5.

When it comes to Wall Street analysis, 17 out of 27 analysts recommend a Strong Buy, 5 rate it as a Buy, 3 rate it as a Hold and 2 rate it as Strong Sell.

According to SA analyst Manika Premsingh, “The company’s expected to continue making progress, to be sure. Revenue growth, improved EBITDA margins and possibly even an adjusted net income are expected. The company’s upgraded guidance for 2024 is encouraging, too. If its results turn out better than anticipated, guidance can improve again, which can be good for the stock.

But as of now, the forward P/E compared to its peers still doesn’t make a case for Carnival Corporation.”

Seeking Alpha analysts have a Buy rating on the company.