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.


Finance

KfW IPEX-Bank Boosts its Presence at SMM

In an interview the departing head of the KfW IPEX-Bank Maritime Industries department, Dr. Carsten Wiebers offers insight into the facets of international ship

Hyundai Merchant Marine to buy Hanjin's 'Good' Assets

South Korea's financial regulator said on Wednesday that Hyundai Merchant Marine Co Ltd will seek to acquire healthy assets of troubled shipper Hanjin Shipping Co Ltd.

APM Terminals to invest $70 mln in Port Elizabeth Terminal

The Port of New York and New Jersey is the largest port on the US East Coast and third largest in the United States with 6.37 million TEU handled in 2015.  In 2014,

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0571 sec (18 req/sec)