Carnival (NYSE:CUK) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Carnival Corporation's share price has surged to $27.28, surpassing its 200-day moving average of $21.55, indicating potential positive momentum for the stock.
• The company reported $0.35 earnings per share for the last quarter, exceeding analysts' expectations of $0.24, alongside a revenue of $6.33 billion.
• Insider trading activity included Director Sir Jonathon Band selling 12,500 shares at an average price of $29.75, representing a 16.25% decrease in ownership.

Carnival Corporation (NYSE:CUK - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $21.55 and traded as high as $27.29. Carnival shares last traded at $27.28, with a volume of 1,141,385 shares traded.

Carnival Stock Up 3.5%

The business has a 50-day moving average price of $25.08 and a two-hundred day moving average price of $21.55. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.58. The firm has a market cap of $5.14 billion, a PE ratio of 14.75 and a beta of 2.79.

Carnival (NYSE:CUK - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The business had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.21 billion. On average, equities research analysts expect that Carnival Corporation will post 1.7 EPS for the current year.

Insider Buying and Selling

In related news, Director Sir Jonathon Band sold 12,500 shares of the 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 transaction, the director owned 64,406 shares of the company's stock, valued at $1,916,078.50. This represents a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carnival

Large investors have recently bought and sold shares of the business. Sound Income Strategies LLC purchased a new position in Carnival in the second quarter valued at $44,000. Parallel Advisors LLC increased its holdings in Carnival by 51.1% in the second quarter. Parallel Advisors LLC now owns 1,819 shares of the company's stock valued at $46,000 after buying an additional 615 shares during the last quarter. IFP Advisors Inc purchased a new position in Carnival in the second quarter valued at $77,000. Traub Capital Management LLC purchased a new position in Carnival in the second quarter valued at $81,000. Finally, GAMMA Investing LLC increased its holdings in Carnival by 38.6% in the second quarter. GAMMA Investing LLC now owns 3,862 shares of the company's stock valued at $99,000 after buying an additional 1,075 shares during the last quarter. 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.

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