Carnival (NYSE:CUK) Shares Gap Down – Should You Sell?

Carnival Corporation (NYSE:CUK) gapped down before the market opened 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 trading hands.

Analyst Upgrades and Downgrades

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

Carnival Trading Down 6.9%

The stock has a market cap of $5.53 billion, a P/E ratio of 14.65 and a beta of 2.46. The company has a current ratio of 0.32, a quick ratio of 0.28 and a debt-to-equity ratio of 1.96. The stock’s fifty day moving average price is $30.88 and its 200 day moving average price is $27.89.

Carnival (NYSE:CUK) last released its earnings results on Tuesday, January 27th. The company reported $0.19 earnings per share (EPS) for the quarter. Carnival had a net margin of 10.37% and a return on equity of 28.39%. The firm had revenue of $6.33 billion during the quarter. Equities research analysts expect that Carnival Corporation will post 1.7 earnings per share for the current year.

Carnival Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued 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 2.0%. Carnival’s dividend payout ratio (DPR) is presently 7.50%.

Institutional Trading of Carnival

A number of institutional investors and hedge funds have recently bought and sold shares of CUK. CIBC Private Wealth Group LLC lifted its stake in shares of Carnival by 376.5% in the third quarter. CIBC Private Wealth Group LLC now owns 953 shares of the company’s stock worth $25,000 after buying an additional 753 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Carnival by 120.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 980 shares of the company’s stock valued at $30,000 after purchasing an additional 536 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Carnival in the 2nd quarter worth about $26,000. Northwestern Mutual Wealth Management Co. lifted its position in Carnival by 188.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,115 shares of the company’s stock valued at $28,000 after purchasing an additional 729 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of Carnival in the 4th quarter worth $34,000. 23.80% of the stock is currently owned by institutional investors.

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.