What is going on with cruise stocks?
What is going on with cruise stocks? Despite pulling back from 2023 highs in July, Royal Caribbean and Carnival are still among the top performers in the S&P 500 this year. Royal Caribbean stock soared nearly 86% in 2023 while CCL stock spiked roughly 70%. Norwegian Cruise Line shares tumbled nearly 23% this quarter but are up 34% in 2023.
Is Carnival stock expected to rise?
Based on 13 Wall Street analysts offering 12 month price targets for Carnival in the last 3 months. The average price target is $18.27 with a high forecast of $23.00 and a low forecast of $14.00. The average price target represents a 43.18% change from the last price of $12.76.
Will cruise ship stocks bounce back?
After gloomy performances during the pandemic, cruise stocks look poised to deliver gains for investors. Battered comps from slow travel make it easier for cruise stocks to achieve triple-digit year-over-year revenue growth. And some cruise companies have already reported that type of growth.
What is the trend for cruises 2023?
So what trends are emerging as we sail into 2023? More travellers are looking to escape on itineraries that provide cultural and destination immersion; solo cruising is on the up; and people want to spend more on bucket-list luxury cruises.
Should I sell my Royal Caribbean stock?
Out of 12 analysts, 7 (58.33%) are recommending RCL as a Strong Buy, 3 (25%) are recommending RCL as a Buy, 2 (16.67%) are recommending RCL as a Hold, 0 (0%) are recommending RCL as a Sell, and 0 (0%) are recommending RCL as a Strong Sell.
Can Carnival stock go to zero?
Cruise giant Carnival was hit hard during the worst of the pandemic. Now, a top Wall Street analyst has issued a dire potential outlook for the company in the case of recession. Morgan Stanley's Jamie Rollo outlined a worse-case scenario: Carnival stock could fall to $0 in the event of a global economic downturn.
Will cruise stocks recover in 2023?
Market pros have also been inching their price targets higher for Royal Caribbean and Norwegian. It's not a surprise. The revenge travel surge that helped lift most travel and tourism stocks in 2021 and 2022 is finally coming around to raise the water for cruise line stocks in 2023.
Will Royal Caribbean stock go back up?
Stock Price Forecast The 15 analysts offering 12-month price forecasts for Royal Caribbean Cruises Ltd have a median target of 125.00, with a high estimate of 139.00 and a low estimate of 95.00. The median estimate represents a +44.03% increase from the last price of 86.79.
Does cruising have a future?
CLIA forecasts passenger numbers will not only meet but exceed pre-pandemic levels by the end of 2023. And according to Cruise Industry News' cruise ship orderbook for ocean-going vessels, nearly 40 new ships are lined up to debut this year alone, with more than 75 vessels on order through 2027.
Why are cruise stocks dropping?
Cruise stocks fell Tuesday, with Norwegian Cruise Line plummeting, after the company set a third-quarter profit outlook that was narrower than Wall Street expected. Norwegian's shares were recently down more than 12%, on pace to break a four-day winning streak and one of the S&P 500's worst performances on the day.
What is the prediction for Carnival cruise stock?
Stock Price Forecast The 18 analysts offering 12-month price forecasts for Carnival Corp have a median target of 19.00, with a high estimate of 25.00 and a low estimate of 10.18. The median estimate represents a +49.14% increase from the last price of 12.74.