Carnival Co. & (NYSE:CUK) Shares Gap Down – Here’s Why

Shares of Carnival Co. & plc (NYSE:CUK) gapped down prior to trading on Friday . The stock had previously closed at $21.33, but opened at $20.15. Carnival Co. & shares last traded at $20.11, with a volume of 1,597,037 shares traded.

Carnival Co. & Price Performance

The company has a market cap of $3.81 billion, a price-to-earnings ratio of 14.58 and a beta of 2.67. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 2.80. The company’s 50 day moving average price is $18.91 and its 200 day moving average price is $20.74.

Carnival Co. & (NYSE:CUK) last released its earnings results on Friday, March 21st. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.02 by $0.11. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. The company had revenue of $5.81 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Equities research analysts forecast that Carnival Co. & plc will post 1.7 earnings per share for the current year.

Institutional Trading of Carnival Co. &

Several hedge funds and other institutional investors have recently made changes to their positions in CUK. Legal & General Group Plc lifted its stake in shares of Carnival Co. & by 106.2% in the fourth quarter. Legal & General Group Plc now owns 6,917 shares of the company’s stock valued at $156,000 after purchasing an additional 3,562 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Carnival Co. & in the fourth quarter valued at about $158,000. First Trust Advisors LP acquired a new stake in shares of Carnival Co. & in the fourth quarter valued at about $202,000. Ameriprise Financial Inc. acquired a new stake in shares of Carnival Co. & in the fourth quarter valued at about $206,000. Finally, Truist Financial Corp acquired a new stake in shares of Carnival Co. & in the fourth quarter valued at about $208,000. Institutional investors and hedge funds own 23.80% of the company’s stock.

Carnival Co. & 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.