CCL Stock Price: Carnival Corp's booking are reportedly up 200% yearly, will shares triple?

Memories of the Diamond Princess – a coronavirus-infested cruise ship that was moored for weeks in Japan – are probably forgotten. Carnival Corp will head to see from August 1, in a sign of a justified or unjustified return to normality. COVID-19 statistics have been declining in the New York area but remain high elsewhere in the US.

Cruise Planners told TMZ that bookings have risen by 600% following Carnival's publication of new summer sailings. They also added that reservations are up 200% year on year – an even more significant feat. 

While enabling booking was likely to trigger a return of eager holiday goers to book a vacation, the yearly leap seems substantial. Some suspect that the composition of those seeking a cruise is younger adults and not the more elderly ones that used to frequent such excursions. Coronavirus has seniors more than the young, and those with previous illnesses more than those otherwise healthy. 

Will Carnival's stocks rise, and could it continue paying dividends?

CCL Stock Dividend

In recent years, rising profits have prompted Carnival Corp, which trades under CCL on the New York Stock Exchange, to issue steadily growing dividends. However, the corona-crisis has hit the company hard, and that is reflected in the stock price. At the time of writing, CCL shares exchange hands at just under $14, nearly double the recent 52-week low of $7.80 but far off from the $54.25 peak seen before the spread of the virus.

That peak above $50 – more than three times the current value – was seen around one year ago. With bookings reportedly leaping by 200% – three times – can investors expect CCL to more than triple? Will dividends follow?

The answer is probably no. While bargain-seekers may join the journey, other investors that have jumped ship are still looking for safer havens. The reason is that more evidence is needed before the ailing industry can lift its anchor. Cruise ships will likely suffer from the wariness of customers to book such trips – even if social distancing measures are guaranteed.