Carnival Corporation (NYSE:CUK - Get Free Report)'s stock price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $21.57, but opened at $22.64. Carnival shares last traded at $23.71, with a volume of 1,882,178 shares trading hands.
The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The firm had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.21 billion. Carnival had a return on equity of 28.65% and a net margin of 9.72%.
Institutional Investors Weigh In On Carnival
A number of institutional investors have recently modified their holdings of the company. Truist Financial Corp bought a new position in Carnival during the fourth quarter worth $208,000. QRG Capital Management Inc. raised its position in shares of Carnival by 21.1% in the 4th quarter. QRG Capital Management Inc. now owns 112,894 shares of the company's stock worth $2,541,000 after acquiring an additional 19,679 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Carnival in the 4th quarter valued at about $158,000. Charles Schwab Investment Management Inc. boosted its position in shares of Carnival by 18.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 57,019 shares of the company's stock valued at $1,283,000 after purchasing an additional 8,974 shares in the last quarter. Finally, Callan Family Office LLC acquired a new stake in Carnival during the fourth quarter worth approximately $593,000. 23.80% of the stock is owned by institutional investors.
Carnival Stock Performance
The company has a debt-to-equity ratio of 2.78, a current ratio of 0.26 and a quick ratio of 0.21. The stock has a fifty day simple moving average of $19.95 and a two-hundred day simple moving average of $20.67. The firm has a market capitalization of $4.67 billion, a P/E ratio of 13.41 and a beta of 2.67.
Carnival Company Profile
(
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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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