Where Will Carnival Stock Be in 1 Year?
The cruising giant came through with another beat, but now it's time to talk about its next port of call.
Carnival Corp. (NYSE: CCL) has been a pleasure cruise to many of its recent investors. Shares of the world's largest cruise line operator have coasted nearly 60% higher over the past year. The latest step up came earlier this week, when Carnival posted better-than-expected financial results.
Momentum has been strong for Carnival and its fellow cruise line stocks, but Tuesday's report wasn't perfect. Still, that doesn't mean the past year will be a hard act to follow, even if it's unlikely that the shares jump another 60% in the next 12 months. Let's take a closer look at Carnival's remarkable recovery, some impressive streaks it has going on, and ultimately where the shares could be trading a year from now.
Carnival has done nothing but crank out positive earnings surprises since resuming operations after the pandemic-related stoppage. Tuesday morning's update was the latest installment of humbling the Wall Street pros. Revenue for its fiscal second quarter that ended in May rose 9.5% to $6.33 billion, comfortably ahead of the 7.5% increase analysts were expecting.
