Carnival (NYSE:CUK) Reaches New 1-Year High – Still a Buy?

Shares of Carnival Corporation (NYSE:CUK) hit a new 52-week high on Wednesday . The stock traded as high as $26.19 and last traded at $26.06, with a volume of 3200320 shares. The stock had previously closed at $25.51.

Carnival Stock Performance

The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30. The stock has a market capitalization of $5.13 billion, a PE ratio of 14.73 and a beta of 2.70. The business has a 50 day moving average price of $20.93 and a 200 day moving average price of $20.75.

Carnival (NYSE:CUK) last announced its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The firm had revenue of $6.33 billion for the quarter, compared to the consensus estimate of $6.21 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%. As a group, equities research analysts expect that Carnival Corporation will post 1.7 earnings per share for the current year.

Institutional Trading of Carnival

Hedge funds have recently bought and sold shares of the company. Aristeia Capital L.L.C. boosted its stake in shares of Carnival by 2.2% during the 1st quarter. Aristeia Capital L.L.C. now owns 12,393,075 shares of the company’s stock worth $217,251,000 after acquiring an additional 262,590 shares during the last quarter. Norges Bank purchased a new position in Carnival during the 4th quarter valued at approximately $132,714,000. Arrowstreet Capital Limited Partnership increased its position in Carnival by 4.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,061,521 shares of the company’s stock worth $68,915,000 after purchasing an additional 136,764 shares during the last quarter. Renaissance Technologies LLC lifted its position in Carnival by 2.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,673,700 shares of the company’s stock valued at $60,185,000 after purchasing an additional 58,600 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Carnival by 15.3% during the first quarter. Millennium Management LLC now owns 1,138,520 shares of the company’s stock worth $19,958,000 after buying an additional 151,439 shares during the period. Hedge funds and other institutional investors own 23.80% of the company’s stock.

About Carnival

Carnival Plc operates as a global cruise and vacation company. The firm offers holiday and vacation products to a customer base that is broadly varied in terms of cultures, languages and leisure-time preferences. It operates through the North America and Australia (NAA), Europe and Asia (EA), Cruise Support, and Tour and Other segments.