Carnival (NYSE:CUK) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Carnival Corporation (NYSE:CUK) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.45 and traded as high as $33.40. Carnival shares last traded at $33.04, with a volume of 3,405,045 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Zacks Research upgraded Carnival to a “hold” rating in a research note on Thursday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Carnival in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Carnival presently has a consensus rating of “Hold”.

Carnival Trading Up 1.4%

The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.28 and a current ratio of 0.32. The company’s 50-day moving average price is $29.21 and its 200-day moving average price is $27.45. The firm has a market capitalization of $6.23 billion, a PE ratio of 16.52 and a beta of 2.52.

Carnival (NYSE:CUK) last posted its earnings results on Tuesday, January 27th. The company reported $0.34 EPS for the quarter. The firm had revenue of $6.33 billion for the quarter. Carnival had a return on equity of 28.39% and a net margin of 10.37%. On average, sell-side analysts expect that Carnival Corporation will post 1.7 earnings per share for the current year.

Carnival Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, February 13th. Carnival’s dividend payout ratio (DPR) is 7.50%.

Hedge Funds Weigh In On Carnival

Several hedge funds have recently added to or reduced their stakes in CUK. Osaic Holdings Inc. lifted its position in shares of Carnival by 36.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,717 shares of the company’s stock worth $44,000 after buying an additional 459 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Carnival by 120.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 980 shares of the company’s stock worth $30,000 after acquiring an additional 536 shares in the last quarter. Vident Advisory LLC raised its stake in Carnival by 3.1% during the 3rd quarter. Vident Advisory LLC now owns 18,911 shares of the company’s stock worth $500,000 after acquiring an additional 568 shares in the last quarter. Creative Planning lifted its position in Carnival by 5.0% in the third quarter. Creative Planning now owns 12,032 shares of the company’s stock valued at $318,000 after acquiring an additional 577 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Carnival by 11.0% in the fourth quarter. Signaturefd LLC now owns 6,166 shares of the company’s stock valued at $187,000 after acquiring an additional 612 shares in the last quarter. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

About Carnival

Carnival plc (NYSE: CUK) is one of the world’s leading cruise operators, offering leisure travel services to millions of passengers each year. Through its portfolio of brands, the company provides passenger cruises that combine accommodations, entertainment, dining, shore excursions and onboard amenities. Carnival’s vessels range from contemporary “fun ships” to premium and luxury experiences, catering to a broad spectrum of travelers from families and couples to solo adventurers.

Founded in 1972 by Ted Arison, the company has grown through organic fleet expansion and strategic acquisitions.