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Carnival's (CCL) Seabourn Puts Voyages on Hold for 3 Cruises
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Owing to the circumstances tied to the coronavirus pandemic, Carnival Corporation & Plc’s (CCL - Free Report) Seabourn has halted cruise operations for three of its ships, namely, Seabourn Odyssey, Seabourn Ovation and Seabourn Encore.
Notably, operations for Seabourn Odyssey, Seabourn Ovation, and Seabourn Encore have been effectively paused through Jan 15, Apr 18 and May 28, 2021, respectively. Earlier, Seabourn had announced the halting of operations for Seabourn Ovation, Seabourn Encore and Seabourn Quest through Jan 3, Jan 6 and May 10, 2021, respectively.
Given that the risk of the pandemic cannot be ruled out, management stated that the decision is in line with the company’s initiative to safeguard health, safety and well-being of its guests and crew members.
Compensation Updates
Meanwhile, Seabourn is offering future cruise credits for its cancelled voyages. Notably, guests are entitled to 125% future cruise credits, depending on the type of payment. With a validity of 12 months, the credits can be used to book sailings departing through Dec 31, 2022. Nevertheless, guests can also avail a refund, upon request.
Price Performance
Coming to price performance, shares of Carnival have plummeted 70.1% compared with the industry’s fall of 41.5%. Notably, the company has been substantially affected by the coronavirus outbreak. Although the company cannot estimate the impact of the outbreak at this time, it is likely that the pandemic will have a material adverse effect on its operations through 2020. Notably, earnings estimates for 2020 have moved down 1.5% over the past 30 days, depicting analysts’ concern over the stock’s growth potential.
Carnival — which shares space with Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) and Royal Caribbean Cruises Ltd. (RCL - Free Report) in the Zacks Leisure and Recreation Services industry — has a Zacks Rank #5 (Strong Sell) at present.
Twin River 2021 earnings are expected to surge 331.3%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time. See 8 breakthrough stocks now>>
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Carnival's (CCL) Seabourn Puts Voyages on Hold for 3 Cruises
Owing to the circumstances tied to the coronavirus pandemic, Carnival Corporation & Plc’s (CCL - Free Report) Seabourn has halted cruise operations for three of its ships, namely, Seabourn Odyssey, Seabourn Ovation and Seabourn Encore.
Notably, operations for Seabourn Odyssey, Seabourn Ovation, and Seabourn Encore have been effectively paused through Jan 15, Apr 18 and May 28, 2021, respectively. Earlier, Seabourn had announced the halting of operations for Seabourn Ovation, Seabourn Encore and Seabourn Quest through Jan 3, Jan 6 and May 10, 2021, respectively.
Given that the risk of the pandemic cannot be ruled out, management stated that the decision is in line with the company’s initiative to safeguard health, safety and well-being of its guests and crew members.
Compensation Updates
Meanwhile, Seabourn is offering future cruise credits for its cancelled voyages. Notably, guests are entitled to 125% future cruise credits, depending on the type of payment. With a validity of 12 months, the credits can be used to book sailings departing through Dec 31, 2022. Nevertheless, guests can also avail a refund, upon request.
Price Performance
Coming to price performance, shares of Carnival have plummeted 70.1% compared with the industry’s fall of 41.5%. Notably, the company has been substantially affected by the coronavirus outbreak. Although the company cannot estimate the impact of the outbreak at this time, it is likely that the pandemic will have a material adverse effect on its operations through 2020. Notably, earnings estimates for 2020 have moved down 1.5% over the past 30 days, depicting analysts’ concern over the stock’s growth potential.
Carnival — which shares space with Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) and Royal Caribbean Cruises Ltd. (RCL - Free Report) in the Zacks Leisure and Recreation Services industry — has a Zacks Rank #5 (Strong Sell) at present.
A Key Pick
A better-ranked stock in the leisure space is Twin River Worldwide Holdings, Inc. , which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Twin River 2021 earnings are expected to surge 331.3%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>