Company Update (NYSE:CCL): Carnival Corporation to Build Four Cruise Ships as Part of Memo of Agreement with Fincantieri S.p.A.

[PR Newswire] – NYSE: CUK), the world’s largest travel and leisure company, today announced that it has signed a memo of agreement with Italian shipbuilder Fincantieri S.p.A. to build four new cruise ships with final contracts expected to be executed in 2016. Two of the four new ships will be built for Costa Asia for deployment in China, and one will be built each for P&O Cruises Australia and Princess Cruises. With the new agreement, Carnival Corporation has 17 new ships scheduled to be delivered between 2016 and 2020. Read more on this. Carnival Corporation (CCL) , valued at $42.52B, opened this morning at $55.41. Looking at today’s market, CCL one day range is $55.00 to $55.77 and has traded between $42.51 and $55.77 over the past year. CCL shares are currently priced at 16.46x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.05x earnings multiple for the same period. The company pays shareholders $1.20 per share annually in dividends, yielding 2.21%. In a review of the consensus earnings estimate this quarter, 14 sell-side analysts are looking at $0.32 per share, which would be $0.12 better than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $3.35 which would be a $0.65 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.63 Billion. If realized, that would be a 2.83% increase over the year-ago quarter. More recently, HSBC Securities Initiated CCL at Buy (Nov 25, 2015). Previously, Nomura upgraded CCL from Neutral to Buy. The average price target for CCL shares by the analysts covering it is $59.21, which is 6.86% above where the stock opened. See more in (NYSE:CCL) Similar Articles: Company Update: Carnival Corporation (NYSE:CCL) – Carnival Corporation Expands to Four Cruise Brands in China, Accelerates Market Leadership with Additional Ships Serving Chinese Travelers in 2017 Company Update: Carnival Corporation (NYSE:CCL) – Carnival Corporation Adds Third Berth to Cozumel Pier, Will Increase its Cruise Ship Brands’ Visits to Popular Port Stock Update: Carnival Corporation (NYSE:CCL) – Costa Cruises to Build Two Next-Generation Cruise Ships as part of Carnival Corporation’s Multi-Billion Dollar Contract with Meyer Werft
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