Carnival (NYSE:CUK) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Carnival (NYSE:CUK) released its earnings results on Friday. The company reported $0.20 earnings per share 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 business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.13 billion.

Carnival Stock Performance

Shares of NYSE CUK opened at $24.06 on Friday. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 12.03 and a beta of 2.46. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.32 and a quick ratio of 0.28. Carnival has a one year low of $13.65 and a one year high of $33.72. The stock’s fifty day moving average price is $28.80 and its two-hundred day moving average price is $27.52.

Hedge Funds Weigh In On Carnival

Large investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC boosted its holdings in Carnival by 376.5% during the third quarter. CIBC Private Wealth Group LLC now owns 953 shares of the company’s stock worth $25,000 after purchasing an additional 753 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Carnival in the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Carnival by 188.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,115 shares of the company’s stock worth $28,000 after buying an additional 729 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Carnival in the 4th quarter worth approximately $34,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Carnival by 3,007.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,336 shares of the company’s stock worth $41,000 after buying an additional 1,293 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings upgraded Carnival from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Zacks Research raised shares of Carnival to a “hold” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus 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.