A Reversal for Carnival Corporation (CCL) Is Not Near. The Formed Bearish Wedge Down Chart Pattern

May 16, 2018 - By William Pierce

Carnival Corporation (NYSE:CCL) Logo

Investors sentiment increased to 1.22 in Q4 2017. Its up 0.11, from 1.11 in 2017Q3. It is positive, as 47 investors sold Carnival Corporation shares while 217 reduced holdings. 78 funds opened positions while 243 raised stakes. 398.04 million shares or 0.19% less from 398.79 million shares in 2017Q3 were reported.
1,000 were reported by Orrstown Fin Services Incorporated. Bnp Paribas Arbitrage Sa reported 255,990 shares stake. Pictet North America Sa holds 0.05% in Carnival Corporation (NYSE:CCL) or 4,409 shares. Qci Asset Management Ny reported 100 shares. State Of Alaska Department Of Revenue has invested 0.09% in Carnival Corporation (NYSE:CCL). Moreover, Deutsche Financial Bank Ag has 0.08% invested in Carnival Corporation (NYSE:CCL). Omers Administration invested 0.06% in Carnival Corporation (NYSE:CCL). Bowling Portfolio Mgmt Lc accumulated 54,659 shares. Adams Diversified Equity Fund owns 138,500 shares for 0.49% of their portfolio. Parkside Retail Bank holds 0.03% or 1,158 shares in its portfolio. 227,767 are owned by Ngam Advsr Ltd Partnership. Factory Mutual Insur has invested 0.05% in Carnival Corporation (NYSE:CCL). Teacher Retirement Of Texas accumulated 575,123 shares. Capwealth Ltd, Tennessee-based fund reported 183,222 shares. Moreover, Point72 Asia (Hong Kong) has 0.09% invested in Carnival Corporation (NYSE:CCL).

Since January 2, 2018, it had 0 buys, and 20 selling transactions for $10.76 million activity. 21,602 shares were sold by KRUSE STEIN, worth $1.49 million on Friday, January 12. DONALD ARNOLD W sold $204,000 worth of Carnival Corporation (NYSE:CCL) on Tuesday, March 13. On Tuesday, February 13 PEREZ ARNALDO sold $588,852 worth of Carnival Corporation (NYSE:CCL) or 8,567 shares. Bernstein David sold $731,454 worth of Carnival Corporation (NYSE:CCL) on Thursday, January 4. 3,840 shares valued at $267,226 were sold by BAND SIR JONATHON on Tuesday, January 16.

The stock of Carnival Corporation (CCL) formed a down wedge with $61.19 target or 7.00 % below today’s $65.80 share price. The 8 months wedge indicates high risk for the $47.00 billion company. If the $61.19 price target is reached, the company will be worth $3.29B less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.95% or $0.62 during the last trading session, reaching $65.8. About 1.59M shares traded. Carnival Corporation (NYSE:CCL) has risen 11.65% since May 16, 2017 and is uptrending. It has outperformed by 0.10% the S&P500.

Analysts await Carnival Corporation (NYSE:CCL) to report earnings on June, 28. They expect $0.60 EPS, up 15.38 % or $0.08 from last year’s $0.52 per share. CCL’s profit will be $428.53M for 27.42 P/E if the $0.60 EPS becomes a reality. After $0.52 actual EPS reported by Carnival Corporation for the previous quarter, Wall Street now forecasts 15.38 % EPS growth.

Carnival Corporation (NYSE:CCL) Ratings Coverage

Among 11 analysts covering Carnival (NYSE:CCL), 7 have Buy rating, 0 Sell and 4 Hold. Therefore 64% are positive. Carnival had 20 analyst reports since December 6, 2017 according to SRatingsIntel. Barclays Capital upgraded the stock to “Overweight” rating in Friday, March 23 report. Morgan Stanley upgraded Carnival Corporation (NYSE:CCL) on Wednesday, December 6 to “Equal-Weight” rating. The company was maintained on Friday, December 22 by Tigress Financial. The stock of Carnival Corporation (NYSE:CCL) earned “Buy” rating by SunTrust on Tuesday, March 27. The firm has “Neutral” rating by JP Morgan given on Friday, March 23. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, December 20. Stifel Nicolaus maintained Carnival Corporation (NYSE:CCL) rating on Wednesday, April 11. Stifel Nicolaus has “Buy” rating and $8100 target. Barclays Capital maintained the stock with “Equal Weight” rating in Thursday, December 21 report. On Thursday, January 18 the stock rating was maintained by Susquehanna with “Buy”. Credit Suisse maintained the stock with “Outperform” rating in Thursday, January 25 report.

More news for Carnival Corporation (NYSE:CCL) were recently published by: Seekingalpha.com, which released: “Royal Caribbean: Lower Risk But Also Less Reward” on May 15, 2018. Seekingalpha.com‘s article titled: “Carnvival Corp.: Caribbean Cash Flow King” and published on May 14, 2018 is yet another important article.

Carnival Corporation operates as a leisure travel and cruise company. The company has market cap of $47.00 billion. It offers cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, and Seabourn brands in North America; and Costa, AIDA, P&O Cruises , Cunard, and P&O Cruises (Australia) brands in Europe, Australia, and Asia. It has a 18 P/E ratio. The firm operates approximately 100 cruise ships.

Carnival Corporation (NYSE:CCL) Institutional Positions Chart

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