Carnival (NYSE:CUK) Hits New 1-Year High - Time to Buy?

Carnival Corporation (NYSE:CUK - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.19 and last traded at $26.06, with a volume of 3200320 shares traded. The stock had previously closed at $25.51.

Carnival Stock Up 1.2%

The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. The stock has a market capitalization of $5.11 billion, a PE ratio of 14.68 and a beta of 2.70. The stock's fifty day simple moving average is $20.72 and its 200-day simple moving average is $20.72.

Carnival (NYSE:CUK - Get Free Report) last posted its earnings results on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. The firm had revenue of $6.33 billion for the quarter, compared to analysts' expectations of $6.21 billion. Carnival had a net margin of 9.72% and a return on equity of 27.88%. As a group, sell-side analysts forecast that Carnival Corporation will post 1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Carnival

Several large investors have recently made changes to their positions in the business. Jump Financial LLC bought a new position in Carnival during the fourth quarter valued at about $1,701,000. BNP Paribas Financial Markets raised its holdings in shares of Carnival by 3,456.4% in the 4th quarter. BNP Paribas Financial Markets now owns 33,288 shares of the company's stock worth $749,000 after purchasing an additional 32,352 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Carnival by 18.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 57,019 shares of the company's stock worth $1,283,000 after purchasing an additional 8,974 shares during the period. Sei Investments Co. lifted its stake in Carnival by 183.6% in the fourth quarter. Sei Investments Co. now owns 158,191 shares of the company's stock valued at $3,561,000 after purchasing an additional 102,413 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Carnival during the fourth quarter valued at $9,435,000. 23.80% of the stock is owned by hedge funds and other institutional investors.

Carnival Company Profile

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.