12 Undervalued Cyclical Stocks to Buy Right Now

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3. Carnival Corporation & plc (NYSE:CCL)

Forward P/E Ratio: 14.73

Earnings Growth: 113.76%

Number of Hedge Fund Holders: 54

Carnival Corporation & plc (NYSE:CCL) is a leisure travel company that operates in the cruise industry. It operates popular brands such as Carnival Cruise Line, Holland America Line, Princess Cruises, and more.

On January 24, C. Patrick Scholes, an analyst at Truist, raised his price target on CCL from $29 to $30, while keeping his Hold rating on the stock. The firm has been talking to senior-level executives from the travel industry and their examination of big data suggests a huge upside for the travel industry. Although the cruise stocks are around 7% to 19% higher in terms of price from pre-pandemic levels, they still remain fairly below the growth rate of land-based hotel and leisure segments.

The fiscal 2024 revenue for Carnival Corporation & plc (NYSE:CCL) was at an all-time high of $25 billion, indicating a 15% increase year-over-year. Management noted that the growth in the travel sector has been robust marked by increased consumer spending. Carnival Corporation & plc (NYSE:CCL) is the 3rd most undervalued cyclical stock to buy right now.

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