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Carnival Corp has a weak future ahead with very disappointing earnings due to the coronavirus

Carnival Corp(CCL) currently trades at $14.63 and has fallen by 18.58% in the past 24 hours. The company’s latest earnings report, which came out last Thursday, provides a glimpse of what is looming for the company. Its earnings, excluding certain items, dropped by 50% year-over-year. In its earnings press release, Carnival stated: “As of March 15…, cumulative advanced bookings for the remainder of 2020, are meaningfully lower than the prior-year at prices that are considerably lower than the prior-year on a comparable basis, reflecting the impact of COVID-19.”.

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Based on this information, investorsQ rates this stock a 3 out of 10. We give it this rating because Carnival Corp has a very weak future ahead of it and no shares should be bought at this time. The high forecast for Carnival Corp is $59 and the low is $6. Notably, the company’s market cap is $9.49 billion with a 52 week high of $56.04 and a 52 week low of $7.90.

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