Global cruise company Carnival Corporation’s (NYSE: CCL) robust performance in the fourth quarter is unlikely to have astonished the users of TipRanks’ Website Traffic Tool. With the use of this tool, investors can be prepared for the probable outcome of the results well ahead of a company’s earnings.
Rising Website Traffic Predicted Solid Top-line Numbers
Q4 revenue came in at $3.8 billion, up nearly 200% year-over-year. Also, Carnival reported an adjusted loss per share of $0.85, compared with a loss of $1.72 in the last year’s quarter.
Interestingly, the TipRanks website tool showed a 107.8% year-over-year jump in website visits for the quarter. Q4 traffic jumped from 9.59 million to 19.93 million year-over-year, with the highest number of website visits in September. This indicated that Carnival’s results could benefit from the growing demand for leisure travel as COVID-19 restrictions eased.
Potential for Growth Ahead
A look at the company’s year-to-date website traffic trend reveals a 119.81% jump year-over-year. The increasing website data means that Carnival is likely to continue witnessing growth.
It is worth mentioning that the company witnessed strong advance booking volume trends. In its last earnings report, Carnival said that “2023 sailings are nearing 2019 comparable booking levels, with November booking volumes exceeding 2019 levels.”
Moreover, the company remains focused on saving fuel costs and building on its capacity. Carnival seeks to replace about 50% of its capacity with larger, technologically advanced, and more efficient ships. This should help attract more travelers and support the company’s bottom-line expansion.
Is CCL Stock a Buy, Hold, or Sell?
On TipRanks, CCL has a Hold consensus rating based on five Buys, five Holds, and two Sells. The average price target of $11.54 implies upside potential of 47.7%. Shares have tanked 63.5% year-to-date.
Ending Thoughts
Carnival’s efforts to increase capacity and strong booking volumes reflect its growth potential. Nevertheless, the challenging macroeconomic conditions, including supply chain issues and rising fuel prices, might impact the company’s performance to some extent.
In times of economic uncertainty, analyzing consumer behavioral patterns might become a difficult task. One can use our website traffic tool to enhance stock research.
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