Carnival (NYSE:CUK) Shares Gap Up – What’s Next?

Shares of Carnival Corporation (NYSE:CUK) gapped up prior to trading on Wednesday . The stock had previously closed at $25.20, but opened at $28.24. Carnival shares last traded at $28.3620, with a volume of 1,649,507 shares trading hands.

Analyst Ratings Changes

CUK has been the subject of several recent research reports. Weiss Ratings upgraded Carnival from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Zacks Research upgraded Carnival to a “hold” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Carnival currently has a consensus rating of “Moderate Buy”.

Carnival Price Performance

The firm has a market capitalization of $5.25 billion, a P/E ratio of 12.36 and a beta of 2.51. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.30 and a quick ratio of 0.28. The stock’s fifty day simple moving average is $28.41 and its 200 day simple moving average is $27.35.

Carnival (NYSE:CUK) last announced its earnings results on Friday, March 27th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion. Carnival had a net margin of 11.48% and a return on equity of 26.92%. On average, equities research analysts predict that Carnival Corporation will post 1.7 EPS for the current year.

Insider Buying and Selling

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total value of $313,965.72. Following the completion of the transaction, the director directly owned 52,601 shares in the company, valued at approximately $1,377,620.19. The trade was a 18.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Carnival

Large investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its holdings in Carnival by 376.5% in the third quarter. CIBC Private Wealth Group LLC now owns 953 shares of the company’s stock worth $25,000 after purchasing an additional 753 shares in the last quarter. Raymond James Financial Inc. bought a new position in Carnival in the second quarter worth about $26,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Carnival by 188.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,115 shares of the company’s stock worth $28,000 after acquiring an additional 729 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Carnival by 120.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 980 shares of the company’s stock worth $30,000 after acquiring an additional 536 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Carnival in the 4th quarter valued at approximately $34,000. 23.80% of the stock is currently owned by institutional investors.

Carnival Company Profile

Carnival plc (NYSE: CUK) is one of the world’s leading cruise operators, offering leisure travel services to millions of passengers each year. Through its portfolio of brands, the company provides passenger cruises that combine accommodations, entertainment, dining, shore excursions and onboard amenities. Carnival’s vessels range from contemporary “fun ships” to premium and luxury experiences, catering to a broad spectrum of travelers from families and couples to solo adventurers.

Founded in 1972 by Ted Arison, the company has grown through organic fleet expansion and strategic acquisitions.