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Stock Update (NYSE:CCL): Carnival Corporation’s Fathom Granted Approval by Cuba to Cruise from U.S. to Cuba

[PR Newswire] – NYSE: CUK), the world’s largest leisure travel company, today announced that Cuba has granted approval for the company to begin travel to Cuba starting on May 1, 2016. Following U.S. authorization granted in July 2015, Carnival Corporation is now cleared to operate the 704-passenger MV Adonia to Cuba through its newest brand Fathom. This marks the first time in over 50 years a cruise ship is approved to sail from the United States to Cuba. Read more on this. Carnival Corporation (CCL) , valued at $38.24B, opened at $49.63. Today, shares have traded between $49.31 and $49.81 per share with the price of the stock fluctuating between $40.52 to $55.77 over the last 52 weeks. CCL shares are currently priced at 14.77x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.98x forward p/e ratio. The company pays shareholders $1.20 per share annually in dividends, yielding 2.42%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $0.32 per share, which would be $0.12 better than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $3.36, which would be a $0.66 better than last year. 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. In terms of ratings, HSBC Securities Initiated CCL at Buy (Nov 25, 2015). Previously, Nomura upgraded CCL from Neutral to Buy. With the above information in mind, readers should note that the average price target is $60.06, which is 21.02% above where the stock opened this morning. See more in (NYSE:CCL) Similar Articles: Stock Update: Carnival Corporation (NYSE:CCL) – Got the Winter Blues? Take a Carnival Corporation Virtual Cruise 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
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