Carnival (NYSE:CUK) Shares Gap Down – Time to Sell?

Carnival Corporation (NYSE:CUK) shares gapped down prior to trading 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.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CUK shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carnival in a report on Monday, December 29th. Zacks Research upgraded Carnival to a “hold” rating in a report on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Carnival Trading Down 2.3%

The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.28 and a current ratio of 0.32. The company’s 50-day moving average price is $30.77 and its 200-day moving average price is $27.91. The firm has a market capitalization of $5.35 billion, a PE ratio of 14.19 and a beta of 2.46.

Carnival (NYSE:CUK) last issued its earnings results on Tuesday, January 27th. The company reported $0.19 earnings per share for the quarter. The business 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%. On average, sell-side analysts expect that Carnival Corporation will post 1.7 earnings per share for the current year.

Carnival Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, February 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.1%. Carnival’s dividend payout ratio is 7.50%.

Institutional Trading of Carnival

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Carnival by 1,202.6% during the first 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 period. Jane Street Group LLC boosted its holdings in Carnival by 69.2% in the 1st quarter. Jane Street Group LLC now owns 46,021 shares of the company’s stock valued at $807,000 after purchasing an additional 18,826 shares in the last quarter. Bank of Montreal Can increased its position in Carnival by 417.0% during the 2nd quarter. Bank of Montreal Can now owns 1,611,280 shares of the company’s stock worth $41,104,000 after purchasing an additional 1,299,639 shares during the period. ABC Arbitrage SA raised its stake in shares of Carnival by 17.6% during the 2nd quarter. ABC Arbitrage SA now owns 893,500 shares of the company’s stock worth $22,793,000 after buying an additional 133,601 shares in the last quarter. Finally, Mint Tower Capital Management B.V. raised its stake in shares of Carnival by 0.9% during the 2nd quarter. Mint Tower Capital Management B.V. now owns 93,690 shares of the company’s stock worth $2,390,000 after buying an additional 820 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.