Carnival (NYSE:CUK) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Carnival Corporation (NYSE:CUK) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.13 and traded as high as $28.29. Carnival shares last traded at $28.05, with a volume of 2,252,498 shares traded.

Carnival Price Performance

The stock has a fifty day simple moving average of $23.35 and a 200-day simple moving average of $21.13. The company has a market capitalization of $5.28 billion, a PE ratio of 15.16 and a beta of 2.70. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58.

Carnival (NYSE:CUK) last posted its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The firm had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.21 billion. Equities analysts anticipate that Carnival Corporation will post 1.7 earnings per share for the current year.

Institutional Investors Weigh In On Carnival

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aristeia Capital L.L.C. boosted its stake in Carnival by 2.2% during the first quarter. Aristeia Capital L.L.C. now owns 12,393,075 shares of the company’s stock worth $217,251,000 after buying an additional 262,590 shares during the last quarter. Norges Bank acquired a new position in shares of Carnival during the fourth quarter worth about $132,714,000. Arrowstreet Capital Limited Partnership increased its holdings in Carnival by 4.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,061,521 shares of the company’s stock valued at $68,915,000 after buying an additional 136,764 shares during the last quarter. Renaissance Technologies LLC lifted its position in Carnival by 2.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,673,700 shares of the company’s stock worth $60,185,000 after purchasing an additional 58,600 shares during the period. Finally, Millennium Management LLC raised its stake in Carnival by 15.3% during the 1st quarter. Millennium Management LLC now owns 1,138,520 shares of the company’s stock valued at $19,958,000 after purchasing an additional 151,439 shares during the period. Hedge funds and other institutional investors own 23.80% of the company’s stock.

About Carnival

Carnival Plc operates as a global cruise and vacation company. The firm offers holiday and vacation products to a customer base that is broadly varied in terms of cultures, languages and leisure-time preferences. It operates through the North America and Australia (NAA), Europe and Asia (EA), Cruise Support, and Tour and Other segments.