The week ahead: Carnival disturbs pre-Christmas calm
14th December 2018 16:55
by Lee Wild from interactive investor
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A break from Brexit and market volatility, the traditional scramble for last-minute presents, and Carnival's results will dominate the final full week before Christmas, writes Lee Wild.
Monday 17 December
Trading Statements
APC Technology
AGM/EGM
The Simplybiz Group
Tuesday 18 December
Trading Statements
Atlas Mara Co-invest Ltd
AGM/EGM
European Metals Holdings, CIP Merchant Capital, Sareum Holdings
Wednesday 19 December
Trading Statements
Begbies Traynor
AGM/EGM
JPMorgan Elect, PROACTIS Holdings
Thursday 20 December
After a fairly unspectacular 2018, performing no better but no worse than the FTSE 100 index, Carnival's fourth-quarter results on Thursday will make headlines given the dearth of company results scheduled for the final full week before Christmas.
Carnival shares look reasonable value right now. The cruise ships operator trades on a forward price/earnings (PE) ratio of under 13, less than the 10-year average of almost 17, and there's a prospective dividend yield of 3.5%.
Historically, Carnival has caused few ripples – although there have been some - excelling as a steady performer. Third-quarter results in September coincided with a generally weaker period for equities, but Carnival does have a fan club in the Square Mile.
They like an increase in demand and pricing across the board, even in places experiencing supply growth. Listen to these results for evidence that Carnival can post sequential quarterly net yield improvement in the Caribbean through 2019.
Source: TradingView (*) Past performance is not a guide to future performance
Trading Statements
Carnival
AGM/EGM
Mosman Oil and Gas, SolGold, El Oro, AFI Development
Friday 21 December
AGM/EGM
Transense Technologies, Sabien Technology, KCR Residential Reit, Marble Point Loan Financing, Haydale Graphene Industries
*Horizontal lines on charts represent levels of previous technical support and resistance. Trendlines are marked in red.
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Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.