Carnival Corp. (NYSE)
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Carnival is one of the
largest cruise operators with a fleet over 100 vessels. Its stocks are traded
65% off 2021 peak prices. The company suffered much from COVID-19 restriction
when its ships had to be anchored while paying huge maintenance fees. The
recent Q1 2022 financial report of the company may not be ideal, but it has
demonstrated a steady gradual return to the prepandemic numbers.
Carnival has reported
that 91% of its vessels’ capacities are booked for June, according to the
financial Q2 2022 report. More reservations are being made for the months to
come. Revenue soared by 50% year-on-year to $2.4 billion. However, Carnival
finances are looking fragile as it became cash flow positive only with clients’
deposits that were made in reservations. The overall amount of such clients’
deposits topped $5.1 billion. In comparison, the amount of the deposits for Q1
2019 was at $5.8 billion.
Carnival is going to
restore 100% of its capacity use in the near term, and the long-term
perspectives are seen to be very promising. The number of reservations for the
second half of 2022 outpaced 2019 comparable level. Short-term cruises are
looking much more promising now, and the company may surprise investors if more
vessels are made operational.
The return to the
target price of $20 per share in the middle-term seems to be realistic.
Carnival Corp. (NYSE)
Ticker | CCL |
Contract value | 100 shares |
Maximum leverage | 1:5 |
Date | Short Swap (%) | Long Swap (%) | No data |
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Minimum transaction volume | 0.01 lot |
Maximum transaction volume | 100 lots |
Hedging margin | 50% |