UBS Maintains a 'Buy' on Carnival Corporation (CCL); Q1 Preview
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Price: $28.12 -1.06%
Rating Summary:
27 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
27 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' on Carnival Corporation (NYSE: CCL) price target lowered $1 to $34.
UBS analyst says, "CCL to report Q1’12 this Fri March 9, earlier than the company typically reports its Feb quarter, which we see as a sign that the company wants to be able to talk more freely about the impact it expects from the Concordia accident. We believe the stock could show some relief now that management will quantify the impact and put a floor on concerns...We expect Q1 constant FX net yield +2%, a sign of solid demand before Concordia accident. We estimate EPS loss ($0.08) with implied guidance of ($0.09)-($0.05) - from original guidance $0.06-$0.10 combined with Concordia $0.15 of one-time costs including insurance deductibles, passenger care, etc."
"We now estimate 2012 EPS of $1.89 from $1.95 on $0.06 of FX impact since just last week. We had lowered CCL & RCL '12 yield est by 200bp to flattish for CCL after the accident. Royal Caribbean (NYSE: RCL) later guided to 100-300bp impact, and CCL likely to fair worse since Costa brand would take biggest hit. But we expect them to recover more than ½ of lost yield back in ‘13 plus organic growth, as seen in previous shocks." (UBS lowers FY13 EPS estimate from $2.57 to $2.48)
For an analyst ratings summary and ratings history on Carnival Corporation click here. For more ratings news on Carnival Corporation click here.
Shares of Carnival Corporation closed at $29.48 yesterday.
UBS analyst says, "CCL to report Q1’12 this Fri March 9, earlier than the company typically reports its Feb quarter, which we see as a sign that the company wants to be able to talk more freely about the impact it expects from the Concordia accident. We believe the stock could show some relief now that management will quantify the impact and put a floor on concerns...We expect Q1 constant FX net yield +2%, a sign of solid demand before Concordia accident. We estimate EPS loss ($0.08) with implied guidance of ($0.09)-($0.05) - from original guidance $0.06-$0.10 combined with Concordia $0.15 of one-time costs including insurance deductibles, passenger care, etc."
"We now estimate 2012 EPS of $1.89 from $1.95 on $0.06 of FX impact since just last week. We had lowered CCL & RCL '12 yield est by 200bp to flattish for CCL after the accident. Royal Caribbean (NYSE: RCL) later guided to 100-300bp impact, and CCL likely to fair worse since Costa brand would take biggest hit. But we expect them to recover more than ½ of lost yield back in ‘13 plus organic growth, as seen in previous shocks." (UBS lowers FY13 EPS estimate from $2.57 to $2.48)
For an analyst ratings summary and ratings history on Carnival Corporation click here. For more ratings news on Carnival Corporation click here.
Shares of Carnival Corporation closed at $29.48 yesterday.
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