CCL - Big base break-out for Carnival

Carnival is breaking out big base starting early 2022 to 2024.

Recently Carnival released their earnings for their Q3 2024 (June-July-August), which is the best quarter for the industry.

The company made 1.74 bln USD net income from 7.9 bln USD revenue in the quarter.

For the current fiscal year, Carnival is expected to post earnings of $1.28 per share on $25.13 billion in revenues.

For the next fiscal year, the company is expected to earn $1.62 per share on $26.03 billion in revenues.

Citi analysts in a research note said the cruising industry is experiencing strong web traffic and positive pricing trends, particularly for bookings in 2025.

They additionally raised Carnival's price target to $28 from $25

In terms of valuation, the stock currently trades at 15.8X current fiscal year EPS estimates, while peer industry average is 17.8X