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Carnival Chief steps down
Monday, 01 July 2013 15:32
The immobilised 'Carnival Splendor' adrift approximately 150 nautical miles off San Diego following an engine room fire in 2010

Cruise magnate Micky Arison has resigned his role at Carnival Corporation, after more than 30 years at the helm.

Naming board member Arnold Donald his successor from July 3, Arison will remain chairman and the company's largest shareholder.

"I have been discussing this with the board for some time now and feel the timing is right to align our company with corporate governance best practices and turn over the reins after 34 years as chief executive," Arison said in a statement.

Arison leaves the company in a time of significant upheaval. In 2012, the 'Costa Concordia', a cruise ship operated by Carnival subsidiary Costa Cruises, capsized off the Italian coast killing 32.

Several Carnival vessels have also been plagued with problems in more recent times, with the 'Carnival Triumph' immobilised in the Gulf of Mexico following an engine fire, cutting on board electricals and sanitation.

The constant stream of crises has taken its toll on the company's reputation. According to Bloomberg BusinessWeek, the company has "seen its bookings for this year fall behind 2012 levels, even as its cruise fares have moved lower in a bid to win back wary travelers."

Though Carnival’s nine other brands remain unaffected, with Holland America, Princess, and Costa all recording stronger bookings over last year and despite higher prices, the "biggest hitch in this math is that Carnival is the company’s largest US brand, with the most inventory to sell", the news agency concluded.

Source: Bloomberg BusinessWeek

Carnival Corporation
Ask: N/A   Bid: N/A  
Book Value: 31.72   Change: -0.58 Variation 
Trade Date: N/A   EPS Estimate Current Year: 3.74  
52-week Low: 44.11   Annualized Gain: N/A  
Market Capitalization: 48.51B   Change From 52-week Low: 22.89  
Percent Change From 52-week High: -1.18%   High Limit: N/A  
Change From 200-day Moving Average: 7.19   Percent Change From 50-day Moving Average: +2.18%  
Open: 67.21   Change in Percent: -0.86% Variation 
Ex-Dividend Date: 5/24/2017   Price/EPS Estimate Next Year: 15.40  
Short Ratio: 4.55   Ticker Trend: N/A  
Holdings Value: N/A   Day`s Value Change: N/A  
Dividend Yield: 2.40   Commission: N/A  
Dividend/Share: 1.60   Earnings/Share: 3.78  
EPS Estimate Next Year: 4.35   Day`s Low: 66.94  
52-week High: 67.80   Holdings Gain: N/A  
Percent Change From 52-week Low: +51.89%   Last Trade (With Time): 4:04pm - 67.00  
Low Limit: N/A   50-day Moving Average: 65.57  
Percent Change From 200-day Moving Average: +12.03%   Previous Close: 67.58  
Price/Sales: 2.92   P/E Ratio: 17.72  
PEG Ratio: 1.21   Last Trade Time: 4:04pm  
1 yr Target Price: 69.32   EPS Estimate Next Quarter: 0.64  
Day`s High: 67.56   Holdings Gain Percent: N/A  
EBITDA: 4.79B   Change From 52-week High: -0.80  
Last Trade (Price Only): 67.00   Day`s Range: 66.94 - 67.56  
200-day Moving Average: 59.81   Change From 50-day Moving Average: 1.43  
Price Paid: N/A   Price/Book: 2.13  
Dividend Pay Date: 6/16/2017   Price/EPS Estimate Current Year: 17.91  
Volume: 2755769   52-week Range: 44.11 - 67.80  
Stock Exchange: NYQ  

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