Here we go...another fatalistic posting. I think you may need to have another look at this stock.
1) Looking at the price after the subsequent price fall in March 2014 or about 10 months ago,the price of CCL has remained about flat (+0.88%). Compare this to the ASX 200 which has fallen ~1.24%. So it has outperformed the ASX200 by 2.12%. Not impressive but not exactly 'heading south'.
2) Consider the dividend yield over the years 2013/14. From the beginning of 2013 to the end of 2014 the price of the stock has fallen ~31%. The dividend in 2013 was 62c and 2014 was 52c a fall of ~19%. The yield has actually improved because the stock has fallen further than the dividend has been cut.
3) Depending on how you calculate P/E (I am taking it straight from Commsec) they have calculated the P/E as 19 vs a sector average of 15. Hardly 'off the planet' given that it has historically traded at a premium to the market and sector due to strong brand value.
CCL Price at posting:
$9.14 Sentiment: Buy Disclosure: Held