Ccl Stock – Shares of Carnival (NYSE: CCL ) fell Wednesday after the cruise line announced a $1 billion debt offering.
The convertible notes will mature in 2027, according to a Carnival press release. The Company’s offering is private and offers notes only to qualified institutional investors.
Carnival says the senior bond issue is part of its 2024 refinancing plans. The company will use the proceeds from this share issue to repay debt due in 2024. It also uses the proceeds for other general corporate purposes.
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When it’s time to return the notes, Carnival has several options. A company can use cash, stock, or a combination of these to repay debt holders.
A carnival trying to keep more of its debt doesn’t go down well with merchants. While the company’s upcoming debt repayments have been suspended, borrowing to pay for it has worried investors.
As a result, strong trading has pushed CCL shares lower as shareholders sell today. About 55 million shares are currently in circulation. This is quickly approaching the average daily trading volume of around 61 million shares.
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Carnival (ccl) Stock Plummets After Disappointing Earnings
As of the date of publication, William White has no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author and comply with publication guidelines. Over the past year, CCL has increased EPS estimates 25% of the time and earnings estimates 25% of the time.
EPS estimates have been revised up by 1 and down by 3 in the last 3 months. Revenue estimates have 0 upward and 3 downward revisions.
Carnival (CCL) typically reports weak first-quarter numbers due to seasonal factors, but Stone Fox Capital expects better numbers for the remaining quarters of 2022, and investors should focus on whether “Carnival can project an improvement that exceeds analysts’ estimates in FQ2.” .”
Ahead of next week’s earnings call, Deutsche Bank analyst Chris Woronka told clients that Carnival ( CCL ) is an attractive stock and that the cruise industry appears resilient despite macroeconomic uncertainty.
Ccl’s Stock Price
“We believe the report is likely to trigger a positive stock reaction primarily based on press-driven sentiment,” Woronka said.
Tidal season data released earlier this month show cruise lines’ outbound trends are steady despite high inflation and challenging macroeconomic conditions.
Stifel also emphasized optimism in its pre-earnings note, saying moderate expectations and Carnival’s ( CCL ) history provide very conservative pre-guidance.
“We believe their qualitative comments are strong enough to indicate to investors that there should be some upside momentum in the second half of ’23,” analysts said.
Carnival Corp. (ccl): Carnival Stock Price Trading Report 2023!
If you activate an ad blocker, you may be prevented from continuing. Turn off your ad blocker and update it. The coronavirus from China is giving the “I’ve never been on a cruise” crowd a moment. Combine that with the “never going on a cruise again” crowd, and things look bleak for Carnival ( NYSE:CCL ) . However, I encourage you to remove emotion from your analysis (as all investors should). When you do this, the CCL stock can be reset as a potential return event.
Analyst Matt McCall shares how Chipotle (NYSE: CMG ) stock has recovered since the foodborne illness outbreak. While I agree with McCall that this is an imperfect model in some cases, it is reminiscent of human behavior.
As I wrote about Chipotle before, the company was open. This is exactly what the carnival demands. The company did not cause the coronavirus. However, Carnival, like other cruise lines, works to reassure customers that cruises are safe.
It is a very positive step for the entire industry to align its ships to this end.
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Will Ashworth recently tried to make sense of CCL’s stock. Ashworth looked at Carnival’s performance during the recent financial crisis. He is concerned about the company’s net debt, which now stands at 96.5% of its current value due to the decline in Carnival’s market value.
But the more you try to find a reference point for Carnival’s latest woes, the more you realize it’s really another crisis. For example, Carnival’s total debt is less than 25 percent of its total assets.
Additionally, the cash that Carnival has generously returned to shareholders in dividends and buybacks can and will be used by the company to offset the large decline in earnings.
While that may be unpopular with some investors, the industry could receive capital as part of a federal stimulus package for the U.S. economy.
Cruise Stocks Fall After Carnival (nyse:ccl) Sells $1 Billion Of Shares
Did you know that before the coronavirus pandemic, the cruise industry was the fastest growing segment of the leisure travel market?
What if I told you that you could buy shares in a company that pays consistently profitable and consistently growing dividends?
Carnival got into this situation when the calendar turned to 2020. Unfortunately, the news has been bad since then. There was an outbreak of the coronavirus on his Diamond Princess cruise ship. Unfortunately, this ship has more confirmed cases than some countries.
But if history has taught us anything, it’s that people have short memories. The difference in this crisis for many travel companies is that the problem is not their creation. Boeing (NYSE:BA) continues to roll out two airliners that communicate directly with the company’s aircraft software.
Carnival’s (ccl) Stock Forecast Before Q1 Business Update
Carnival’s PR challenge is different. Most consumers don’t blame Carnival for the coronavirus. But they see the idea of being in close contact with thousands of other passengers as a health risk. This is a broader test for Carnival and the cruise industry as a whole.
As hard as it may be, investors should shake off the pessimism about CCL stock. Moreover, there is no reason to believe that stocks will rise to the heights seen in 2019. Right now, investors want something.
If you look at the historical performance of CCL stock, the $25-30 per share range seems to be the sweet spot. But with no gains in the near term, the stock is unlikely to get anywhere near that. And in fact, you may need to keep counting.
However, I reiterate that consumers have short memories. With the coronavirus somewhat erased from our collective memories, the cruise industry is one of the most affordable vacation trips. When that happens, I think most consumers will realize that “never” is a very long time. This could increase the share of Carnival shares and other cruise lines.
Carnival Stock Falls As Share Sale Causes ‘panic.’ What’s Worrying The Market.
I would avoid the CCL fund for now. More Americans are testing positive for the coronavirus as a result of more widespread testing.
Americans will be mostly locked down for the next month. Simple math shows that there is no reason to own the stock at this stage. However, if you’re dismissing a stock’s long-term potential because customers say they’ll never do it, you should think again.
Chris Marcoc is a freelance financial writer who has covered the markets for over five years. He writes for 2019. As cruise lines were forced to shut down in April, the market seemed to ignore the existing airline sector and invest in the existing sector. Analysts’ latest bullish call means investors are returning to Carnival Corp. (NYSE:CCL), but the sector remains underinvested. My investment will remain neutral on the stock until cruises return despite the virus.
The biggest hurdle for cruise line stocks is the CDC’s No Sail order. In July, the state health agency extended the travel ban until September 30. During the call on FQ2’s success, Carnival said the CDC had not entered into serious discussions to find a health solution that would allow swimming in the future.
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The problem is that swimming in the 4th trimester towards the winter months is unlikely to be approved by the Department of Health after moving it back from the beginning of the summer. A deal seems unlikely, especially without a well-used vaccine and the Cruise Lines Association having agreed not to sail until October.
Some cruise lines have created a “Healthy Sail Panel” with 74 suggestions for returning to a healthy cruise. Of course, the committee’s recommendations include plans for tests, masks and temperature checks, but
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