Carnival (CCL) Falls Despite Record Bookings in January

NEW YORK (TheStreet) -- Carnival Cruise Lines (CCL) announced it set a one-month record reservation record in the month of January, with reservations up 17% from the year-ago period.

Despite the record numbers, shares of the cruise company fell 1.4% to $38.65.

Between Jan. 1 and Jan. 31, 2014 Carnival saw net bookings (new reservations minus cancellations) of more than 565,000 guests. In addition to the record bookings, the company says its Web site saw an all-time high of 13 million visits in the one-month period. The bookings were at record levels across the entire fleet of 24 ships.

"Now is the time of year when many people focus on their upcoming vacation plans and the cruise industry typically sees an escalation in booking activity. We are definitely observing a strong uptick in reservations with bookings coming in at unprecedented levels," Carnival president and CEO Gerry Cahill said in a press release.

TheStreet Ratings team rates CARNIVAL CORP/PLC (USA) as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate CARNIVAL CORP/PLC (USA) (CCL) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

If you liked this article you might like

Analysts Wrong on iPhone; Retail Not Going Away: Best of Cramer

S&P, Dow Close at Record Highs, Brushing Off Geopolitical Concerns

Stocks Shake Off North Korea and London to Stay in Record Territory

Carnival Will Have Massive Cruise Ships Using Liquefied Natural Gas by 2018

Jim Cramer on North Korea, Equifax, Alphabet, Oracle, Nvidia and Southwest Air