Carnival (NYSE:CUK) Shares Gap Down – Here’s What Happened

Carnival Corporation (NYSE:CUK)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $31.47, but opened at $28.77. Carnival shares last traded at $28.7520, with a volume of 1,490,816 shares trading hands.

Analysts Set New Price Targets

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

Carnival Price Performance

The company has a quick ratio of 0.28, a current ratio of 0.32 and a debt-to-equity ratio of 1.96. The firm has a market cap of $5.53 billion, a PE ratio of 14.65 and a beta of 2.46. The stock has a 50 day moving average price of $30.88 and a two-hundred day moving average price of $27.89.

Carnival (NYSE:CUK) last released its earnings results on Tuesday, January 27th. The company reported $0.19 EPS for the quarter. The company 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%. As a group, equities analysts expect that Carnival Corporation will post 1.7 earnings per share for the current year.

Carnival Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, February 13th. Carnival’s payout ratio is presently 7.50%.

Hedge Funds Weigh In On Carnival

Several hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC lifted its stake in Carnival by 376.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 953 shares of the company’s stock valued at $25,000 after acquiring an additional 753 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Carnival during the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Carnival by 188.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,115 shares of the company’s stock valued at $28,000 after buying an additional 729 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Carnival by 120.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 980 shares of the company’s stock worth $30,000 after buying an additional 536 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Carnival during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 23.80% of the company’s stock.

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.