Market Update: Carnival Corporation (NYSE:CCL) – Carnival Corp may delay start of Cuba cruises

[Reuters] – U.S. cruise operator Carnival Corp said it may delay its voyages to Cuba, scheduled to start on May 1, unless Cuban authorities allow cruise ships to operate in the same manner as air charter operations. Cuban-born Americans cannot visit the island by sea due to a Cuban law that dates to the Cold War era, and therefore are barred from joining in Carnival’s sailings to the island. People born in Cuba can, however, travel to the island on an airplane. Read more on this. Carnival Corporation (CCL) , with a current value of $47.60B, opened at $51.86. Looking at the stock, its one day range is $50.20 to $51.97 with the price of the stock fluctuating between $40.52 to $55.77 over the last 52 weeks. CCL shares are currently priced at 15.01x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 26.78x forward p/e ratio. The company pays shareholders $1.20 per share annually in dividends, yielding 2.35%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $0.38 per share, which would be $0.13 better than the year-ago quarter and a $0.00 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $3.40 is a $0.70 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.68 Billion. If reported, that would be a 2.51% increase over the year-ago quarter. In terms of ratings, HSBC Securities Initiated CCL at Buy (Nov 25, 2015). Previously, Nomura upgraded CCL from Neutral to Buy. When considering if the stock is under or overvalued, the average price target is $60.61, which is 16.87% above where the stock opened this morning. See more in (NYSE:CCL) Similar Articles: Market Update: Carnival Corporation (NYSE:CCL) – Carnival Corporation & plc Increases Dividend By 17 Percent Stock Update (NYSE:CCL): Carnival Corporation’s Fathom Granted Approval by Cuba to Cruise from U.S. to Cuba Stock Update: Carnival Corporation (NYSE:CCL) – Got the Winter Blues? Take a Carnival Corporation Virtual Cruise