10 Best WallStreetBets Stocks To Buy Right Now

4. Carnival Corp. (NYSE:CCL)

Number of Hedge Funds: 53

Carnival Corp. (NYSE:CCL) is the world’s largest leisure travel company with 87 ships sailing under 9 brands including Princess, famously known as the line of the Love Boat, and Cunard which built the world’s biggest ocean liner at the time, Queen Mary 2, even boasting a planetarium on board. It offers a range of cruise vacations, including Caribbean, Mediterranean, and Alaskan itineraries.

The company’s strategic repositioning of cruises to emerging markets like Asia-Pacific is helping to balance demand in traditional regions like the Caribbean and Mediterranean. This allows for better pricing optimization. As European demand and occupancy rates normalize, it is expected to see improved financial performance.

In the third fiscal quarter of 2024, the sales were up 15.2% year-over-year, recording a revenue of $7.90 billion. Operating income was up 20%, customer deposits another 30%, and booking levels were up 25% from a year-ago period. Yields increased significantly by 12%, driven by strong per diem growth of 6% and an increase in passenger cruise days of 10%.

The company has announced a significant expansion of its fleet with the order of 3 new liquefied natural gas (LNG)-powered cruise ships, set for delivery in 2029, 2031, and 2033. This agreement with the Italian shipbuilder Fincantieri marks a pivotal moment for the company, as these vessels will be the largest in its global fleet, each measuring approximately 230,000 gross tons and designed to accommodate nearly 8,000 guests at full capacity across more than 3,000 staterooms.

Wall Street analysts are optimistic about Carnival Corp. (NYSE:CCL). They anticipate continued strong demand for cruises and believe the company is well-positioned to capitalize on this growth. Its strong market presence gives it a competitive advantage, enabling it to differentiate itself and optimize its sales strategies.