Carnival (NYSE:CUK) Announces Quarterly Earnings Results

Carnival (NYSE:CUK) posted its quarterly earnings data on Friday. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02, Zacks reports. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. Carnival had a return on equity of 28.39% and a net margin of 10.37%.

Carnival Price Performance

CUK opened at $24.06 on Friday. The firm has a 50-day moving average price of $28.80 and a 200-day moving average price of $27.52. Carnival has a twelve month low of $13.65 and a twelve month high of $33.72. 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 company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 12.03 and a beta of 2.46.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Private Wealth Group LLC grew its stake in Carnival by 376.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 953 shares of the company’s stock valued at $25,000 after buying an additional 753 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Carnival during the second quarter worth $26,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Carnival by 188.9% in 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 period. Kestra Advisory Services LLC purchased a new position in shares of Carnival in the fourth quarter valued at $34,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Carnival by 3,007.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,336 shares of the company’s stock valued at $41,000 after purchasing an additional 1,293 shares in the last quarter. 23.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CUK. Zacks Research upgraded Carnival to a “hold” rating in a research note on Thursday, January 22nd. Weiss Ratings raised Carnival from a “hold (c+)” rating to a “buy (b-)” rating in a research report 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

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.