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

Key Points

• Carnival Corporation's stock price has surpassed its 200-day moving average of $21.35, reaching a height of $26.69 during trading.
• The company reported earnings per share of $0.35 for the last quarter, exceeding analyst expectations of $0.24, and a revenue of $6.33 billion.
• Several institutional investors, including Parallel Advisors LLC and GAMMA Investing LLC, have significantly increased their stakes in Carnival during the second quarter, reflecting growing institutional interest.

Carnival Corporation (NYSE:CUK - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.35 and traded as high as $26.69. Carnival shares last traded at $26.55, with a volume of 2,456,830 shares.

Carnival Trading Down 2.4%

The company has a fifty day moving average of $24.27 and a two-hundred day moving average of $21.37. 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 stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 14.35 and a beta of 2.79.

Carnival (NYSE:CUK - Get Free Report) last announced 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. The company had revenue of $6.33 billion during the quarter, compared to the consensus estimate of $6.21 billion. Carnival had a net margin of 9.72% and a return on equity of 27.88%. On average, research analysts expect that Carnival Corporation will post 1.7 EPS for the current year.

Institutional Investors Weigh In On Carnival

Hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in Carnival by 11.1% during the 4th quarter. American Century Companies Inc. now owns 93,438 shares of the company's stock worth $2,103,000 after purchasing an additional 9,353 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Carnival by 12,000.0% in the fourth quarter. JPMorgan Chase & Co. now owns 15,730 shares of the company's stock valued at $354,000 after buying an additional 15,600 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Carnival during the fourth quarter worth $2,033,000. Aristides Capital LLC raised its position in Carnival by 12.1% in the fourth quarter. Aristides Capital LLC now owns 52,913 shares of the company's stock worth $1,191,000 after acquiring an additional 5,710 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Carnival in the fourth quarter valued at $1,025,000. Institutional investors and hedge funds own 23.80% of the company's stock.

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.