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Carnival Corporation (CCL) shares closed at $22.31 on Monday, September 21, trading near a six-month low as the company prepares to release third-quarter earnings next Tuesday before the market opens.
The stock's current valuation sits below historical averages, prompting value investors to examine the company's free cash flow generation and forward earnings multiples for potential upside.
The cruise line's forward price-to-earnings ratio stands at 10x, a discount to its average of 13x over the last two years.
Analysts forecast earnings per share of $2.60 for next year, which would lower the forward P/E multiple to 8.58x.
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