Look for bounce on Carnival Cruise Line in 46.50-48.10 range
Carnival Cruise Lines has been dipping on news that one of its ships spilled 5900 gallons of gray water into the ocean at Port Canaveral. The incident doesn't actually pose any risk, however, because the EPA is not imposing any penalties. Accordingly, I expect CCL to recover soon, with a bounce in the 46.50-48.10 area.
Entertainment, leisure, and hospitality has been an extremely strong market segment for the last quarter, and CCL beat analyst estimates by over 20% on its last earnings report. The company's 4% dividend and approximately 11 P/E make it a good value even if the sector's outperformance doesn't continue in Q1, but there's no reason yet to expect a slowdown in this market segment.
Entertainment, leisure, and hospitality has been an extremely strong market segment for the last quarter, and CCL beat analyst estimates by over 20% on its last earnings report. The company's 4% dividend and approximately 11 P/E make it a good value even if the sector's outperformance doesn't continue in Q1, but there's no reason yet to expect a slowdown in this market segment.
Comment:
With a green candle today, it looks like we're starting our bounce.