Carnival (NYSE:CUK) Hits New 52-Week High - Time to Buy?

Key Points

• Carnival Corporation's share price surged to a new 52-week high of $29.80 during trading, closing at $29.45, indicating strong investor interest and increased trading volume.
• The company reported a quarterly earnings per share (EPS) of $0.35, exceeding analyst estimates by $0.11, and revenue of $6.33 billion, also above expectations.
• Significant institutional investment has been noted, with hedge funds increasing their stakes, leading to approximately 23.80% ownership of the company's stock by institutional investors.

Carnival Corporation (NYSE:CUK - Get Free Report)'s stock price hit a new 52-week high on Thursday . The stock traded as high as $29.80 and last traded at $29.45, with a volume of 1581211 shares traded. The stock had previously closed at $28.58.

Carnival Price Performance

The company has a market cap of $5.32 billion, a price-to-earnings ratio of 15.26 and a beta of 2.76. The company has a fifty day moving average price of $27.67 and a two-hundred day moving average price of $22.41. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.11. The company had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.21 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%. Carnival has set its Q3 2025 guidance at 1.300-1.300 EPS. FY 2025 guidance at 1.970-1.970 EPS. As a group, equities research analysts anticipate that Carnival Corporation will post 1.7 EPS for the current fiscal year.

Insider Transactions at Carnival

In other Carnival news, Director Sir Jonathon Band sold 12,500 shares of Carnival stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total value of $371,875.00. Following the completion of the transaction, the director owned 64,406 shares in the company, valued at approximately $1,916,078.50. The trade was a 16.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On Carnival

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Aristeia Capital L.L.C. raised its position in shares of 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 acquiring an additional 262,590 shares during the last quarter. Norges Bank bought a new stake in shares of Carnival during the second quarter worth $152,130,000. Arrowstreet Capital Limited Partnership raised its position in shares of Carnival by 35.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,426,923 shares of the company's stock worth $61,911,000 after acquiring an additional 628,995 shares during the last quarter. Bank of Montreal Can raised its position in shares of Carnival by 417.0% during the second quarter. Bank of Montreal Can now owns 1,611,280 shares of the company's stock worth $41,104,000 after acquiring an additional 1,299,639 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Carnival by 15.3% during the first quarter. Millennium Management LLC now owns 1,138,520 shares of the company's stock worth $19,958,000 after purchasing an additional 151,439 shares during the period. 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.