Stock Story -
What Happened:Shares of cruise ship company Carnival (NYSE:CCL) jumped 8.1% in the afternoon session after the company reported earnings results that blew past analysts' EPS expectations. Its operating margin also outperformed Wall Street's estimates. The company observed continued strong demand trends during the quarter. As a result, the net yield forecast was raised to 10+%, and this is expected to drive double-digit returns on invested capital. Zooming out, we think this was a fantastic quarter that should have shareholders cheering.
Is now the time to buy Carnival? Find out by reading the original article on StockStory, it's free.
What is the market telling us:Carnival's shares are very volatile and over the last year have had 19 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Carnival is up 3.9% since the beginning of the year, and at $17.98 per share it is trading close to its 52-week high of $19.30 from July 2023. Investors who bought $1,000 worth of Carnival's shares 5 years ago would now be looking at an investment worth $395.27.
![Why Are Carnival (CCL) Shares Soaring Today](https://d68-invdn-com.investing.com/content/pic2bbfd5b077aec72ccf15af2bc9cecd92.jpeg)