Carnival (NYSE:CUK) Posts Earnings Results

Carnival (NYSE:CUK) issued its earnings results on Friday. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02, Zacks reports. Carnival had a net margin of 10.37% and a return on equity of 28.39%. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.13 billion.

Carnival Price Performance

Shares of CUK stock traded down $1.18 during trading hours on Friday, hitting $24.06. 5,733,444 shares of the company’s stock were exchanged, compared to its average volume of 3,557,853. The stock’s 50-day moving average is $28.80 and its 200-day moving average is $27.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.32 and a quick ratio of 0.28. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 12.03 and a beta of 2.46. Carnival has a 52 week low of $13.65 and a 52 week high of $33.72.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in Carnival by 1,202.6% during the 1st quarter. Royal Bank of Canada now owns 79,305 shares of the company’s stock worth $1,391,000 after acquiring an additional 73,217 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Carnival by 69.2% in the first quarter. Jane Street Group LLC now owns 46,021 shares of the company’s stock worth $807,000 after acquiring an additional 18,826 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position 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 purchasing an additional 729 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Carnival during the second quarter worth approximately $1,762,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Carnival during the second quarter valued at approximately $605,000. Institutional investors and hedge funds own 23.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CUK. Zacks Research raised shares of Carnival to a “hold” rating in a report on Thursday, January 22nd. Weiss Ratings raised shares of Carnival from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

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.