Warburg Slashes Earnings of Top Cruise Players

Tuesday, April 17, 2001
UBS Warburg on Tuesday cut its earnings estimates for the cruise operators it covers, including Royal Caribbean and Carnival Corp.

A UBS analyst cut the full-year 2001 earnings estimate for Royal Caribbean to $1.87 from $2.21, and lowered the 2002 estimate to $2 from $2.36. Farley assigned Royal Caribbean shares a 12-month price target of $23, down from $27.

The analyst lowered estimates on Carnival Corp. to $1.74 from $1.78 for 2001 and $1.96 from $2.00 for 2002.

"We believe that the stock's recent weakness already reflects concerns about the economy and particularly given that we expect the stock will take a hit in Tuesday's trading, the risk/return at these levels still makes the stock attractive, in our view. We continue to believe that the long-term growth of CCL makes the stock attractive," the analyst said in a research note. Shares of Royal Caribbean closed at $21 in New York Stock Exchange trading on Monday, while those of Carnival closed at $27.32.

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

U.S. Refinery Workers' Contract Talks Moving Slowly

With just a week of bargaining left until the national contract for U.S. refinery workers expires, the United Steelworkers union (USW) said talks with oil company

Obama, Modi Aim High on India Trip

In a fresh bid to make India an enduring strategic partner, U.S. President Barack Obama lands in New Delhi on Sunday for a highly symbolic parade and to nurture

Venezuela's PDVSA Debt rose 6.3%

Venezuelan state oil company PDVSA's consolidated financial debt rose 6.3 percent in 2014 compared with the previous year to reach $46.2 billion, the company said late on Friday,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3269 sec (3 req/sec)