Carnival (NYSE:CUK) Posts Quarterly Earnings Results

Carnival (NYSE:CUK) announced its quarterly earnings results on Tuesday. The company reported $0.34 EPS for the quarter, FiscalAI reports. The firm had revenue of $6.33 billion during the quarter. Carnival had a net margin of 10.37% and a return on equity of 28.39%.

Carnival Stock Performance

Shares of NYSE CUK traded up $0.15 during midday trading on Wednesday, reaching $28.64. 625,454 shares of the company were exchanged, compared to its average volume of 1,894,115. Carnival has a 1 year low of $13.65 and a 1 year high of $32.65. The stock has a market cap of $5.40 billion, a P/E ratio of 14.35 and a beta of 2.54. The company has a current ratio of 0.32, a quick ratio of 0.28 and a debt-to-equity ratio of 1.96. The stock has a fifty day simple moving average of $27.62 and a 200 day simple moving average of $27.13.

Carnival Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.60 annualized dividend and a yield of 2.1%.

Wall Street Analysts Forecast Growth

CUK has been the topic of several research reports. Zacks Research upgraded shares of Carnival to a “hold” rating in a report on Thursday, January 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Carnival in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Carnival has an average rating of “Hold”.

Institutional Investors Weigh In On Carnival

A number of institutional investors have recently added to or reduced their stakes in CUK. CIBC Private Wealth Group LLC raised its position in Carnival by 376.5% during the third quarter. CIBC Private Wealth Group LLC now owns 953 shares of the company’s stock valued at $25,000 after purchasing an additional 753 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Carnival during the second quarter worth about $26,000. Northwestern Mutual Wealth Management Co. raised 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 in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Carnival by 70.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,671 shares of the company’s stock worth $43,000 after purchasing an additional 688 shares during the period. Finally, Osaic Holdings Inc. grew its position in shares of Carnival by 36.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,717 shares of the company’s stock worth $44,000 after buying an additional 459 shares during the period. Hedge funds and other institutional investors own 23.80% of the company’s stock.

About Carnival

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.