Carnival (NYSE:CUK) Trading Up 5.8% – Here’s Why

Carnival Corporation (NYSE:CUK) was up 5.8% during trading on Thursday . The stock traded as high as $30.77 and last traded at $30.1450. Approximately 2,853,163 shares changed hands during trading, an increase of 40% from the average daily volume of 2,037,600 shares. The stock had previously closed at $28.49.

Analyst Ratings Changes

CUK has been the subject of a number of recent research reports. Zacks Research raised shares of Carnival to a “hold” rating in a report on Thursday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Carnival in a research note on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Carnival Trading Down 3.7%

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 50 day moving average of $27.98 and a 200 day moving average of $27.19. The firm has a market cap of $5.62 billion, a P/E ratio of 14.90 and a beta of 2.54.

Carnival (NYSE:CUK) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $0.34 earnings per share for the quarter. The company had revenue of $6.33 billion for the quarter. Carnival had a return on equity of 28.39% and a net margin of 10.37%. As a group, equities research analysts predict that Carnival Corporation will post 1.7 EPS for the current year.

Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.15 dividend. The ex-dividend date is Friday, February 13th. This represents a $0.60 annualized dividend and a yield of 2.0%.

Institutional Investors Weigh In On Carnival

Institutional investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its position 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 purchasing an additional 753 shares during the last quarter. Raymond James Financial Inc. bought a new position in Carnival in the 2nd quarter worth $26,000. Northwestern Mutual Wealth Management Co. lifted its position 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 worth $28,000 after purchasing an additional 729 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Carnival by 70.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,671 shares of the company’s stock valued at $43,000 after purchasing an additional 688 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in Carnival by 36.5% in the second quarter. Osaic Holdings Inc. now owns 1,717 shares of the company’s stock worth $44,000 after buying an additional 459 shares in the last quarter. 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.