|Bid||14.48 x 1800|
|Ask||14.50 x 1400|
|Day's range||14.15 - 15.18|
|52-week range||7.80 - 53.86|
|Beta (5Y monthly)||1.96|
|PE ratio (TTM)||5.31|
|Earnings date||25 Sep 2019 - 30 Sep 2019|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||20 Feb 2020|
|1y target est||23.83|
Click here to learn more and join potential securities class action. LOS ANGELES, May 22, 2020 -- The Portnoy Law Firm announces it is investigating potential federal.
A member of Carnival Cruise Lines' board recently bought $10 million worth of shares. Saudi Arabia is in, too. Should investors match their confidence?
Great Stirrup Cay is an island in the Bahamas that offers tourists the chance to relax on white sandy beaches, snorkel with sea turtles or even swim with wild pigs on a neighbouring islet. This month the island also offered fund managers enough comfort to buy almost $700m of junk bonds issued by Norwegian Cruise Lines. The Miami-based operator pledged the 268-acre Caribbean idyll it has owned since 1986 as collateral, along with a second island in Belize and a couple of ships.
Volatility continues to be the name of the game for cruise line stocks in May, and Thursday's trading is no different. Today, the catalyst for shares surging was a Credit Suisse analyst initiating relatively positive coverage on cruise line stocks. Shares of Norwegian Cruise Line (NYSE: NCLH) jumped as much as 12.3%, Royal Caribbean (NYSE: RCL) was up 10.7% early in trading, and Carnival (NYSE: CCL) rose 6.9%.
The cruise ship industry has been tempest-tost as the COVID-19 pandemic shipwrecked the stocks of Carnival (NYSE: CCL), Norwegian Cruise Line (NYSE: NCLH), and Royal Caribbean (NYSE: RCL) over the last three months with losses of 60% or more. Chaiken initiated coverage on Carnival, Norwegian, and Royal, though he sees the latter two cruise lines as better investments.
If you believe one Wall Street pro, Royal Caribbean (NYSE: RCL) is the most attractive stock in the battered cruise ship sector. An analyst at Wedbush this week called it a worthy buy compared to peers like Carnival (NYSE: CCL) and Norwegian Cruise Lines (NYSE: NCLH).
Royal Caribbean Cruises (NYSE: RCL), the parent company of such cruise line brands as Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, announced Wednesday that "given ongoing global public health circumstances [it] has decided to extend the suspension of most sailings through July 31, 2020." Royal Caribbean added that it expects to return to service on Aug. 1. The company's move does not appear to be prompted by additional guidance from the U.S. Centers for Disease Control and Prevention (CDC).
The country's second-largest cruise line continues to show why it's the most seaworthy of the three troubled players in this market.
The cruise ship industry is getting a major haircut from an analyst at investment firm SunTrust Robinson, who says we may not have seen the bottom of Carnival (NYSE: CCL), Norwegian Cruise Line (NYSE: NCLH), and Royal Caribbean (NYSE: RCL) shares. Analyst C. Patrick Scholes lowered his price target on Carnival 27% from $51 to $37, on Royal Caribbean 38% from $164 to $102, and on Norwegian Cruise Line 32% from $66 to $45.
After soaring on Monday, cruise ship stocks pulled back a bit on Tuesday. Shares of Carnival (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) fell 4.1%, 3.6%, and 3.5%, respectively.
There's a chance the stock could go back up if you extend your time horizon far enough, but you need to acknowledge a really bad possibility in the meantime.
Shares of cruise line operators Carnival (NYSE: CCL), Norwegian Cruise Line (NYSE: NCLH), and Royal Carribbean (NYSE: RCL) were all soaring by double-digit rates Monday morning. Carnival opened 11% higher today and Norwegian and Royal were up 15% each. A series of positive developments inspired hope among cruise ship investors that the worst may be behind the industry and they could extend their rally for a third consecutive trading day.
No industry has gotten hit harder by the coronavirus pandemic than cruise lines. The three major cruise lines, Carnival (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Lines (NYSE: NCLH), have all been forced to dock their ships due to the coronavirus pandemic, and the trio of stocks remain down about 75% since February, despite bouncing aggressively off their lows in recent weeks as some investors spy opportunity for a comeback. It's easy to see why the pandemic is such a nightmare for the industry.
All three cruise line stocks moved lower as layoffs and problematic quarterly results offset improving liquidity snapshots.
Shares of Norwegian Cruise (NCLH) are down 80% year to date, but one analyst says the impact of COVID-19 is priced in, and see the stock “as materially undervalued” if cruises rebound going into 2021.
Shares of cruise giant Carnival Corporation (NYSE: CCL) popped nearly 7% in early trading Friday before seeing those gains cut about in half. As of 1:05 p.m. EDT, however, Carnival stock was still up a good 3.5%. As Reuters reports this morning, Carnival plans to lay off 820 employees in Florida, and furlough a further 537, as the company remains under CDC-imposed restrictions laid down in a "no-sail" order that was extended in April.
Pinterest, Bank of America, Norwegian Cruise, Royal Caribbean and Carnival as Zacks Bull and Bear of the Day
Despite the fact its cruise ships will resume sailing Aug. 1, Carnival (NYSE: CCL) is permanently laying off at least 820 employees in the state of Florida, while putting 537 more on furlough for six months as a cost-cutting move. Together, the terminations and furloughs add up to almost 46% of the 3,000 Carnival employees who work in the Sunshine State. More workers will also be laid off in California and Washington state, though Carnival has not yet indicated how many.
Carnival (NYSE: CCL) has sounded a cautiously optimistic tone about its business in recent weeks. The cruise ship leader has also seen robust demand for the new debt it issued to help it navigate through a prolonged period of paused sailings. Carnival has added $6.4 billion of extra cash to the books since late February.
The prospects for local reopenings are good for ailing retailers, but for cruise ship stocks, challenges linger on. Facing an ongoing no-sail order and concerns about how the industry will be able to adapt to post-coronavirus realities, Royal Caribbean (NYSE: RCL), Norwegian Cruise Line Holdings (NYSE: NCLH), and Carnival (NYSE: CCL) have all faced major declines in 2020 as their very existence has been called into question. One of the biggest fears about cruise ship companies is that they won't be able to find a way to return to normal operations as long as there are any worries about COVID-19 or other health concerns.