Carnival Corporation & Plc’s CCL Holland America Line recently announced opening of bookings for its 2022-23 season. Following the announcement, shares of the company moved up 4.9% during trading hours on Mar 2.
Notably, the company intends to offer multiple itineraries (ranging from 14 to 50 days) on four Holland America Line ships, from Asia, Australia and New Zealand to South America, Antarctica, Hawaii and Tahiti. Moreover, Noordam, Oosterdam, Westerdam and Zuiderdam will sail throughout the southern and northern hemispheres from September 2022 through April 2023.
Current Bookings Trend
The coronavirus pandemic has impacted the company’s booking. Nevertheless, during fourth-quarter earnings call, management stated that cumulative advanced bookings for the second half of 2021 are within the historical range. During the quarter, the company witnessed 60% of new bookings for 2021, while the remaining comprised FCC (future cruise credits) rebookings. Further, the company stated that cumulative advance bookings for the first half of 2022 are ahead of 2019 levels.
Considering the pent-up demand for voyages, the company expects conversion of FCC’s to normal bookings, going forward. Moreover, much is dependent on the resumption of operations as well.
Shares of Carnival have gained 48.9% in the past six-months compared with the industry's 44.7% growth.
Zacks Rank & a Key Pick
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. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A better-ranked stock in the leisure space is Camping World Holdings, Inc. CWH, which carries a Zacks Rank # 2 (Buy).
Camping World has a three-five year earnings per share growth rate of 34.7%.
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Carnival Corporation (CCL) : Free Stock Analysis Report
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