Carnival Corporation ( CCL ) shares are trading lower Wednesday, and the stock is down more than 7% over the past five days. Here's a look at what's going on. 

What To Know:

Early last week, cruise stocks rallied after Norwegian Cruise Holdings Ltd. raised its earnings guidance for the year with Carnival climbing nearly 8%. 

Princess Cruises announced Wednesday it will extend the number of itineraries in Japan during the 2025-26 season following record-breaking travel to Japan by U.S. visitors in 2023. 

Truist Securities analyst Patrick Scholes maintained Carnival with a Hold rating and lowered the price target from $18 to $17. Shares of Carnival have an average 1-year price target of $22.40, representing an expected upside of 49.21%.

According to data from Benzinga Pro, Carnival shares are trading below the stock’s 50-day moving average of $15.22 and 11.71% of shares are being sold short. 

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CCL Stock Prediction 2024:

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Carnival, while 14 analysts have bullish ratings. The street high price target from Stifel is $26, while the street low from Truist Securities is $17.

CCL Price Action: According to Benzinga Pro, Carnival shares are down 3.19% at $15.15 at the time of publication Wednesday.

Image: Ed Junkins from Pixabay