Fly News Breaks for February 19, 2020
Feb 19, 2020 | 08:02 EDT
Argus analyst John Staszak downgraded Royal Caribbean to Hold from Buy after the company's latest disclosure that the outbreak of coronavirus has led to the cancellation of 10 additional cruises in SE Asia, with FY20 EPS also being reduced by 65c per share. The analyst believes that this "first wave" of cancellations will negatively impact net yields for the next 3-4 quarters, and he lowers his expected FY20 and FY21 EPS views by 70c and 45c to $10.10 and $11.25 respectively. Staszak still sees Royal Caribbean as a Buy in the long term due to the favorable demographics in the cruise industry.
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