We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Carnival (CCL) Plans for Additional Resumption Of Operations
Read MoreHide Full Article
Carnival Corporation & plc (CCL - Free Report) recently announced plans to resume operations for three ships in September and four ships in October 2021. Following the successful resumption, the company will have 15 of its vessels back in operation.
The company plans to restart three vessels — Carnival Glory (from New Orleans), Carnival Pride (Baltimore) and Carnival Dream (Galveston) — starting Sep 5, Sep 12 and Sep 19, respectively. It also plans to restart four additional ships — Carnival Conquest (from Miami), Carnival Freedom (Miami), Carnival Elation (Port Canaveral) and Carnival Sensation (Mobile) — effective from Oct 8, Oct 9, Oct 11 and Oct 21, respectively.
Christine Duffy, president of Carnival Cruise Line, stated, "Our plan envisions successfully bringing back our entire fleet by the end of the year, returning to full service – most especially for the millions of families who sail with us – and building back our business for the benefit of our guests, employees and the tens of thousands of jobs and local businesses that depend on our company.”
Focus on Safety Measures
The company stated it will welcome unvaccinated guests on board, subject to terms and conditions. All unvaccinated guests including children under the age of 12, will be subject to pre-cruise and pre-embarkation testing and testing again prior to debarkation (on cruises longer than four days). Also, they will be charged $150 per person to cover the costs of testing, reporting as well as health and safety screenings.
Moreover, the company is limiting operation of its supervised youth programs to vaccinated children and youth (12 years and older). Unvaccinated guests departing from Florida (effective Jul 31) and Texas (Aug 2) are required to show proof of travel insurance coverage, based on the itineraries being sailed and the requirements of ports and destinations visited.
These additional measures will be in place through October with a likelihood of extension based on guidance from public health and medical advisors as well as the requirements of destination partners.
Price Performance
Image Source: Zacks Investment Research
Coming to price performance, shares of the company have gained 29.8% in the past year compared with the industry’s 33% growth. The downside was mainly due to the pandemic. The company’s global bookings have been negatively impacted by the same. The company also notified in its latest press release that certain vessels have extended their pause in operations.
The company expects phased resumption of cruise operations to have a material impact on all aspects of its business, including the company's liquidity, financial position and results of operations. It stated that booking volumes and book position are improving on a sequential basis. Meanwhile, earnings estimates for 2022 have moved up in the past 30 days, depicting analysts’ optimism regarding the stock’s growth potential.
Some better-ranked stocks in the same space include RCI Hospitality Holdings, Inc. (RICK - Free Report) , Madison Square Garden Sports Corp. (MSGS - Free Report) and Travel + Leisure Co. (TNL - Free Report) , each sporting a Zacks Rank #1.
RCI Hospitality has a three-five year earnings per share growth rate of 12%.
2021 Earnings for Madison Square Garden and Travel + Leisure are expected to surge 31.3% and 443.6%, respectively.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Carnival (CCL) Plans for Additional Resumption Of Operations
Carnival Corporation & plc (CCL - Free Report) recently announced plans to resume operations for three ships in September and four ships in October 2021. Following the successful resumption, the company will have 15 of its vessels back in operation.
The company plans to restart three vessels — Carnival Glory (from New Orleans), Carnival Pride (Baltimore) and Carnival Dream (Galveston) — starting Sep 5, Sep 12 and Sep 19, respectively. It also plans to restart four additional ships — Carnival Conquest (from Miami), Carnival Freedom (Miami), Carnival Elation (Port Canaveral) and Carnival Sensation (Mobile) — effective from Oct 8, Oct 9, Oct 11 and Oct 21, respectively.
Christine Duffy, president of Carnival Cruise Line, stated, "Our plan envisions successfully bringing back our entire fleet by the end of the year, returning to full service – most especially for the millions of families who sail with us – and building back our business for the benefit of our guests, employees and the tens of thousands of jobs and local businesses that depend on our company.”
Focus on Safety Measures
The company stated it will welcome unvaccinated guests on board, subject to terms and conditions. All unvaccinated guests including children under the age of 12, will be subject to pre-cruise and pre-embarkation testing and testing again prior to debarkation (on cruises longer than four days). Also, they will be charged $150 per person to cover the costs of testing, reporting as well as health and safety screenings.
Moreover, the company is limiting operation of its supervised youth programs to vaccinated children and youth (12 years and older). Unvaccinated guests departing from Florida (effective Jul 31) and Texas (Aug 2) are required to show proof of travel insurance coverage, based on the itineraries being sailed and the requirements of ports and destinations visited.
These additional measures will be in place through October with a likelihood of extension based on guidance from public health and medical advisors as well as the requirements of destination partners.
Price Performance
Image Source: Zacks Investment Research
Coming to price performance, shares of the company have gained 29.8% in the past year compared with the industry’s 33% growth. The downside was mainly due to the pandemic. The company’s global bookings have been negatively impacted by the same. The company also notified in its latest press release that certain vessels have extended their pause in operations.
The company expects phased resumption of cruise operations to have a material impact on all aspects of its business, including the company's liquidity, financial position and results of operations. It stated that booking volumes and book position are improving on a sequential basis. Meanwhile, earnings estimates for 2022 have moved up in the past 30 days, depicting analysts’ optimism regarding the stock’s growth potential.
Zacks Rank & Key Picks
Carnival currently carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the same space include RCI Hospitality Holdings, Inc. (RICK - Free Report) , Madison Square Garden Sports Corp. (MSGS - Free Report) and Travel + Leisure Co. (TNL - Free Report) , each sporting a Zacks Rank #1.
RCI Hospitality has a three-five year earnings per share growth rate of 12%.
2021 Earnings for Madison Square Garden and Travel + Leisure are expected to surge 31.3% and 443.6%, respectively.