|Bid||47.85 x 1300|
|Ask||47.90 x 3100|
|Day's range||47.47 - 49.73|
|52-week range||19.25 - 135.32|
|Beta (5Y monthly)||2.51|
|PE ratio (TTM)||54.00|
|Earnings date||23 Jul 2020 - 27 Jul 2020|
|Forward dividend & yield||3.12 (6.24%)|
|Ex-dividend date||05 Mar 2020|
|1y target est||65.87|
Royal Caribbean Cruises (RCL) and Norwegian Cruise have team up to develop safety standards.
On Monday, Royal Caribbean Group <RCL.N> and Norwegian Cruise Line Holdings Ltd <NCLH.N> announced a joint task force to help develop safety standards for restarting their businesses during the coronavirus pandemic. The “Healthy Sail Panel,” co-chaired by former Utah Governor Mike Leavitt and former U.S. Food and Drug Administration Commissioner Scott Gottlieb, is advising the companies on restart plans they will submit to the U.S. Centers for Disease Control and Prevention (CDC) and other regulators at the end of August. The panel plans to share its findings with the entire cruise industry and regulators.
The first half of 2020 was a momentous time for the travel and leisure industry -- but not in a good way. In order to stave off bankruptcy, many in the travel and leisure industry have issued new high-priced debt, low-priced stock, or both, buying themselves time before the industry returns to health. With many "stay-at-home" stocks booming, the travel industry is still in the doldrums, with the stocks of many leading players far below their pre-pandemic highs.
An online consignment specialist, high-margin cruise line operator, trendy discounter, and streaming video pioneer are four companies angling for your money.
Royal Caribbean (RCL) closed the most recent trading day at $50.83, moving +1.05% from the previous trading session.
Southern Company (SO) affiliate, which acquired the Reading wind project in August 2018 from developer Renewable Energy Systems Ltd, is the 11th wind park in Southern Power's portfolio.
Royal Caribbean (RCL) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Cruise ship stocks fell on Wednesday after Norwegian Cruise Line Holdings (NYSE: NCLH) extended the suspension of its voyages for several more months. As of 11 a.m. EDT, shares of Norwegian, Royal Caribbean (NYSE: RCL), and Carnival (NYSE: CCL) (NYSE: CUK) were down 7%, 8%, and 6%, respectively. After the market close on Tuesday, Norwegian announced that it was suspending nearly all voyages across its Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands that were scheduled to embark between Aug. 1 and Sept. 30.
Investment banker J.P. Morgan predicted "a reasonable, albeit slow, recovery in operations" for cruise lines Carnival Corporation (NYSE: CCL) (NYSE: CUK), Norwegian Cruise Line Holdings (NYSE: NCLH), and Royal Caribbean (NYSE: RCL) last week, but said shares would "remain choppy and range-bound until investors receive more clarity" on such data points as, well, precisely when the CDC will permit cruise lines to resume cruising. Today, on a no-news day for the cruise industry, shares of Carnival, Norwegian Cruise, and Royal Caribbean stock are busting out all over, each up more than 10% in early trading.
(Bloomberg Opinion) -- The Federal Reserve realizes that it doesn’t have to buy U.S. corporate bonds, right?I ask this question only somewhat in jest. In a surprise move, the central bank announced Monday that it would start to buy individual company bonds under its $250 billion Secondary Market Corporate Credit Facility, specifically by following a diversified index of U.S. corporate bonds created expressly for its program. “This index is made up of all the bonds in the secondary market that have been issued by U.S. companies that satisfy the facility’s minimum rating, maximum maturity and other criteria,” the Fed said in a statement. Notably, issuers of bonds acquired through this program don’t need to provide certifications, unlike the stipulations for individual debt purchases. It’s not immediately clear why this is necessary, nor how this will impact markets any differently than the facility’s current purchases of exchange-traded funds. So far, the secondary-market vehicle has bought about $5.5 billion of ETFs. As my Bloomberg Opinion colleague Tim Duy quipped on Twitter, it’s as if policy makers said “we want to expand beyond ETFs, so we will purchase individual bonds such that we mimic an ETF.”Predictably, the largest investment-grade bond ETF, ticker LQD, surged in the wake of the announcement to its biggest intraday gain since April 9. That was the day the Fed changed the parameters of its credit facilities to allow for purchases of high-yield ETFs and debt from fallen angels that were investment grade as of March 22.The most surprising part of this is there is virtually no evidence that the corporate-bond market needs this kind of intervention — it has been working nearly flawlessly for months. Sure, the credit ratings of several brand-name companies have been lowered since Covid-19 started to spread across America in March. Some even fell into junk, like Ford Motor Corp., Kraft Heinz Co. and Macy’s Inc. For countless others, their business model has radically changed for at least the next several months, if not years.And yet the average yield demanded by investors for investment grade debt fell last week to just 2.23%. On March 6, the rate was 2.22%, the lowest ever in Bloomberg Barclays data going back to 1972. On that day, the benchmark 10-year Treasury yield tumbled as much as 25 basis points to a record low and closed at 0.76%, while investment-grade bond spreads widened to 144 basis points in what was the credit market’s worst day in a decade. By contrast to those volatile bouts, the move lower in corporate yields during the past few weeks could be described as nothing short of orderly, with average all-in rates falling or staying constant for 21 consecutive trading sessions through June 10 and never dropping by more than 9 basis points at a time.One reason for this type of indexed buying might be that the central bank is worried about the overall leverage levels of corporate America. A Fed report released last week showed U.S. nonfinancial business debt, which includes bank loans and corporate bonds, increased in the first quarter by the most in records dating back to 1952. Firms added $754.8 billion of debt, equivalent to an 18.8% annualized rate, in the first three months of the year. Now with $16.8 trillion of borrowing, nonfinancial corporations have more debt outstanding than all American households.At first glance, that seems rather obvious. That time frame roughly coincides with companies rushing to raise cash and stave off imminent liquidity problems as the coronavirus crisis reached a zenith. But the first quarter also included a period of about two weeks in late February and early March in which the U.S. corporate bond markets were closed in the primary market’s longest drought since July 2018. In total, investment-grade companies borrowed about $479 billion in the first three months of the year, according to data compiled by Bloomberg. In April and May alone, they combined to issue more than $528 billion of debt. While this month isn’t shaping up to be quite as busy, companies reeling from the pandemic like Delta Air Lines Inc. and Royal Caribbean Cruises Ltd. have been lured back to the bond market, given the favorable conditions. All this has happened, of course, without the Fed’s credit facilities purchasing a single bond. Private investors have been more than willing to pick up the slack, pouring $14.6 billion into funds that buy U.S. investment-grade debt, high-yield bonds and leveraged loans in the week that ended June 10, the second-highest inflow on record behind the $15.6 billion added in the week ended June 3, according to data from Refinitiv Lipper.The weeks of record inflows make the Fed’s rush into corporate bonds all the more puzzling. As it stands, the facility will stop purchases no later than Sept. 30, “unless the Facility is extended” by the Fed and Treasury Department. That’s a huge caveat. Why not save the firepower for when — or if — it’s needed? Especially with so much extra room to go in buying ETFs?According to Bloomberg News’s Christopher Condon and Craig Torres, the Fed built the index internally, and a spokesman couldn’t immediately say whether its details would be made public. The central bank added that it could slow or even pause purchases if market functioning showed sustained improvement.I’m not sure what more the Fed wants to see. Obviously, corporate executives have been happily reaping the benefits from the wide-open primary market and locking in rock-bottom interest rates. Now with the central bank in play as well, expect investment-grade yields to soon set record lows.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
A cruise line stock and a high-tech lifesaver are among five investments that have shown a knack for bouncing back after getting knocked down.
Cruise line stocks were big winners during the first week of June. Shares of Carnival (NYSE: CCL) (NYSE: CUK), Norwegian Cruise Line Holdings (NYSE: NCLH), and Royal Caribbean (NYSE: RCL) declined sharply this week, even if they ultimately only gave back a chunk of the prior week's gains in which the three publicly traded operators soared between 34% and 43%. Let's take a closer look at the week that was for the cruise line industry.
With nearly half of U.S. states reporting rising levels of new COVID-19 cases, it's getting tougher to be optimistic about a quick recovery for the cruise industry.
Cruise ship stocks fell on Wednesday as the number of COVID-19 cases rose in multiple U.S. states and international markets. As of 2:55 p.m. EDT, shares of Norwegian Cruise Line Holdings (NYSE: NCLH), Carnival (NYSE: CCL), and Royal Caribbean (NYSE: RCL) were down 12%, 8%, and 8%, respectively. Cruise ship investors might want to brace for rough seas.
Wednesday morning continued to show that stock market investors are generally confused about the state of the financial markets. Carnival suffered an 11% loss, while Royal Caribbean was the least hurt with an 8% decline.
Cruise ship stocks declined on Tuesday, after voyages on several ships were reportedly canceled. Shares of Norwegian Cruise Line Holdings (NYSE: NCLH), Carnival (NYSE: CCL), and Royal Caribbean (NYSE: RCL) fell 10.2%, 7.5%, and 6.9%, respectively. Carnival-owned cruise line Cunard reportedly canceled all voyages until November because of coronavirus-related travel restrictions and safety concerns, according to British newspaper The Telegraph.
Royal Caribbean (NYSE: RCL) has been very active in the capital markets to make sure it has enough cash to survive the coronavirus pandemic. The first will be senior guaranteed notes due in 2023 that pay 9.125% interest, while the second offering will be convertible senior notes due in 2023. Royal Caribbean hopes to return some ships to sea this summer.
As of 12:35 p.m. EDT, shares of Carnival (NYSE: CCL), Norwegian Cruise Line Holdings (NYSE: NCLH), and Royal Caribbean (NYSE: RCL) were up 12%, 11%, and 4%, respectively. Consensus estimates were for the unemployment rate to surge to nearly 20%, driven by a staggering 8 million job losses. The Labor Department reported that 2.5 million more people were able to obtain work in May. That helped to reduce the unemployment rate from 14.7% to 13.3%.