The pullback in cruise stocks is a buying opportunity. Look at Royal Caribbean (SYM: RCL), for example. Even with strong earnings growth, the stock dropped. However, not only did it just catch support at its 50-day moving average, but it’s also excessively oversold on RSI and Williams’ %R. Helping, RCL just raised its adjusted earnings per share outlook to a new range of $11.35 to $11.45 from an older range of $10.70 to $10.90. The company even reinstated a 40-cent dividend, which is payable on Oct. 11. That, coupled with explosive demand makes Royal Caribbean a strong buy at current prices. |
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Company: Carnival (SYM: CCL) Or, look at Carnival (SYM: CCL). Oversold, Carnival recently beat its EPS estimates again. Plus, in its recent report, it said company bookings are at record highs this year and are significantly exceeding 2023 numbers. Even better, the company saw customer deposits hit a record high of $8.3 billion in the second quarter, which was $1.1 billion higher than a prior record high. |
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Company: Norwegian Cruise Line (SYM: NCLH) Also oversold, Norwegian Cruise Line (SYM: NCLH) just beat top and bottom line estimates. EPS of 40 cents beat by six cents. Revenue of $2.4 billion, up 8.6% year over year beat by $20 million. Adjusted EBITDA jumped 14% to $587.7 million. NCLH also raised its full-year adjusted net income guidance by $60 million to about $790 million from $730 million. It also increased its adjusted EPS guidance to $1.53 from $1.43. It’s just something to consider if you’re looking for opportunities in this crazy market. |