Carnival (NYSE:CUK) Shares Gap Up Following Strong Earnings

Key Points

• Carnival Corporation shares surged from a previous close of $27.66 to an opening price of $29.27 following a strong earnings report, with an EPS of $1.43 exceeding expectations.
• The company reported a revenue of $8.15 billion for the quarter, slightly above analyst estimates of $8.11 billion, and has set FY 2025 EPS guidance at 2.140.
• Insider trading activity was noted, with Director Sir Jonathon Band selling 12,500 shares, reducing his holdings by 16.25%, while institutional investors have increased their positions significantly.

Shares of Carnival Corporation (NYSE:CUK - Get Free Report) gapped up before the market opened on Monday following a better than expected earnings announcement. The stock had previously closed at $27.66, but opened at $29.27. Carnival shares last traded at $26.89, with a volume of 2,347,191 shares traded.

The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.11. Carnival had a return on equity of 27.88% and a net margin of 9.72%.The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.11 billion. Carnival has set its FY 2025 guidance at 2.140-2.140 EPS. Q4 2025 guidance at 0.230-0.230 EPS.

Insider Transactions at Carnival

In related news, Director Sir Jonathon Band sold 12,500 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total transaction of $371,875.00. Following the transaction, the director owned 64,406 shares of the company's stock, valued at approximately $1,916,078.50. This represents a 16.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On Carnival

Several large investors have recently bought and sold shares of the stock. Aristeia Capital L.L.C. increased its holdings in Carnival by 2.2% during the 1st quarter. Aristeia Capital L.L.C. now owns 12,393,075 shares of the company's stock worth $217,251,000 after purchasing an additional 262,590 shares during the period. Norges Bank purchased a new position in shares of Carnival in the 2nd quarter valued at about $152,130,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Carnival by 35.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,426,923 shares of the company's stock valued at $61,911,000 after acquiring an additional 628,995 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Carnival by 417.0% in the 2nd quarter. Bank of Montreal Can now owns 1,611,280 shares of the company's stock valued at $41,104,000 after acquiring an additional 1,299,639 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Carnival by 15.3% in the 1st quarter. Millennium Management LLC now owns 1,138,520 shares of the company's stock valued at $19,958,000 after acquiring an additional 151,439 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company's stock.

Carnival Trading Down 4.9%

The firm has a market cap of $4.96 billion, a PE ratio of 14.22 and a beta of 2.76. 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 business has a fifty day moving average price of $27.88 and a 200 day moving average price of $22.94.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.