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Carnival Corporation & plc CCL recently announced that its seven cruise line brands — AIDA Cruises, Costa Cruises, Cunard, Holland America Line, Princess Cruises, Seabourn and P&O Cruises (UK) — will resume sailing from global ports in Europe and the Caribbean this summer.
The company’s three brands, P&O Cruises (UK), Cunard and Princess Cruises, will offer sailing around UK coastal waters, which includes the introductory sailing for P&O Cruises' new flagship, Iona. Meanwhile, AIDA Cruises, Costa Cruises, Holland America Line and Seabourn will provide sailing around the Greek Island. Moreover, Seabourn will resume sailing in the Caribbean.
Roger Frizzell, chief communications officer for Carnival said “We are excited to have the majority of our leading cruise line brands resume sailings this summer, as we are seeing strong pent-up demand from our past guests and consumers in general to get away on a cruise, one of the world's most popular vacations.”
The company continues to work with authorities to restart sailing in the United States. The company’s Carnival Cruise Line brand is likely to resume sailing in July on three ships from ports in Miami and Galveston, TX. The company’s brand will gradually resume sailing from global ports over the next several months in phased manner, which includes limited itineraries.
Carnival’s AIDA is already sailing from the Canary Islands and has got encouraging feedback from its German guests. The company is also opening its hotels and tour operations in Alaska this summer. Notably, 17 of its 19 inefficient ships have left the fleet.
Coming to the price performance, shares of Carnival have gained 27.1% so far this year compared with the industry’s growth of 17.5%.
Booking volumes have doubled in first-quarter 2021 compared with previous-quarter levels. The company’s confidence has been buoyed by initial demand.. It believes that the situation will remain dynamic over the next 12 months.
Carnival — which shares space with Norwegian Cruise Line Holdings Ltd. NCLH and Royal Caribbean Cruises Ltd. RCL in the Zacks Leisure and Recreation Services industry — has a Zacks Rank #3 (Hold), at present.
A key Pick
A better-ranked stock worth considering in the Zacks Leisure and Recreation Services space includes WW International, Inc. WW, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
WW International has reported better-than-expected earnings in the trailing three quarters.
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Carnival Corporation (CCL) : Free Stock Analysis Report
Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report
Norwegian Cruise Line Holdings Ltd. (NCLH) : Free Stock Analysis Report
WW International, Inc. (WW) : Free Stock Analysis Report
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