Carnival Corporation (NYSE:CUK) Sees Significant Growth in Short Interest

Carnival Corporation (NYSE:CUK) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 1,344,571 shares, a growth of 49.6% from the February 26th total of 898,715 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily volume of 3,733,058 shares, the short-interest ratio is currently 0.4 days.

Carnival Stock Down 4.7%

Carnival stock traded down $1.18 during midday trading on Friday, hitting $24.06. 5,733,444 shares of the stock were exchanged, compared to its average volume of 3,759,988. Carnival has a 52-week low of $13.65 and a 52-week 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 business’s 50-day moving average price is $28.80 and its 200-day moving average price is $27.50. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 10.69 and a beta of 2.46.

Carnival (NYSE:CUK) last posted its quarterly earnings data on Friday, March 27th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. Carnival had a net margin of 11.48% and a return on equity of 27.89%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.13 billion. On average, research analysts expect that Carnival will post 1.7 EPS for the current fiscal year.

Institutional Trading of Carnival

A number of 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 purchasing an additional 753 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Carnival during the 2nd quarter valued at $26,000. Northwestern Mutual Wealth Management Co. raised its stake 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 purchasing an additional 729 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Carnival by 120.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 980 shares of the company’s stock worth $30,000 after purchasing an additional 536 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of Carnival in the 4th quarter worth about $34,000. 23.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CUK has been the topic of a number of recent research reports. Weiss Ratings upgraded Carnival from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Zacks Research upgraded Carnival to a “hold” rating in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Carnival currently has a consensus rating of “Moderate Buy”.

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.