By David Randall
By David Randall
NEW YORK, March 6 (Reuters) – Cut price-hunting traders are eyeing the shares of airways, motels, cruise strains and different firms which have been among the many worst-hit by the coronavirus outbreak.
The latest declines have introduced down the valuations of journey and leisure-related firms to ranges some traders are consider are enticing. American Airways Group Inc AAL.O, for instance, now trades at a ahead price-to-earnings ratio of three.3, in comparison with 5.four initially of the 12 months. Marriott Worldwide MAR.O trades at 17.6 in comparison with 23.2, whereas the ahead value for Carnival Corp CCL.N has fallen to six.four instances ahead earnings from 11.6 initially of the 12 months.
Few consider these firms are within the clear, because the outbreak continues to speed up past China’s borders to the US and different international locations. On Friday, Reuters reported that U.S. officers are contemplating methods to discourage U.S. vacationers from taking cruises . Shares of Carnival Corp hit an 11-year low, whereas shares of Royal Carribbean touched 5-year lows.
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