Carnival Corporation & Plc (CUK) Volatility Spurs A Quest For Clarity


    Renaissance Technologies LLC recently announced the acquisition of new stake in Carnival Corporation & Plc (NYSE:CUK). The institutional investor has increased its shareholding in the Consumer Cyclical company by 104.54% to 1.34 million shares with purchase of 0.68 million shares. This fresh investment now brings its stake to 0.73% valued currently at $15.06 million. In addition, Millennium Management LLC raised its holdings by 0.71 million to 1.11 million shares. And Parametric Portfolio Associates L.. has lifted its position by 77.06% or 0.48 million shares – to 1.11 million shares.

    With over 1.38 million Carnival Corporation & Plc (CUK) shares trading Tuesday and a closing price of $13.28 on the day, the dollar volume was approximately $18.31 million. The shares have shown a positive weekly performance of 8.85% and its price on 08/25/20 lost nearly -0.15%. Currently, there are 990.92M common shares owned by the public and among those 329.49M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for CUK have a consensus price objective of $14.71. The analysts have set the share’s price value over the next 12 months at a high of $24.00 and a low of $9.93 should the stock experience a downside. But an upside of 44.67% will see the stock hit the forecast high price target while mean target price for the stock is $15.00.

    Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

    The top 3 mutual fund holders in Carnival Corporation & Plc are GS Funds – Europe Core Equity Por, GS Funds – Global Core Equity Por, and Goldman Sachs International Equit. GS Funds – Europe Core Equity Por owns 0.3 million shares of the company’s stock, all valued at over $3.36 million. Goldman Sachs International Equit sold 22674.0 shares to bring its total holdings to over 0.18 million shares at a value of $2.08 million. Goldman Sachs International Equit now owns shares totaling to 0.10% of the shares outstanding.

    Shares of Carnival Corporation & Plc (NYSE: CUK) opened at $13.61, up $0.31 from a prior closing price of $13.30. However, the script later closed the day at $13.28, down -0.15%. The company’s stock has a 5-day price change of 8.85% and -11.99% over the past three months. CUK shares are trading -72.43% year to date (YTD), with the 12-month market performance down to -68.49% lower. It has a 12-month low price of $7.08 and touched a high of $49.03 over the same period. Currently, 1.38 million shares have been traded, compared to an average intraday trading volume of 2.07 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.73%, 3.34%, and -46.61% respectively.

    Institutional ownership of Carnival Corporation & Plc (NYSE: CUK) shares accounts for 10.50% of the company’s 990.92M shares outstanding. Mutual fund holders own 0.69%, while other institutional holders and individual stakeholders account for 8.37% and — respectively.

    It has a market capitalization of $13.16B and a beta (3y monthly) value of 1.88. The stock’s trailing 12-month PE ratio is 3.07, while the earnings-per-share (ttm) stands at $4.32. The company has a PEG of 0.23 and a Quick Ratio of 0.20 with the debt-to-equity ratio at 0.53. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.40% over the week and 5.32% over the month.

    Analysts forecast that Carnival Corporation & Plc (CUK) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and -$2 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to decrease by -2.70%, and 69.70% over the next financial year. EPS should shrink at an annualized rate of 13.40% over the next five years, compared to 22.60% over the past 5-year period.

    Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 14 of the 20 advise that investors “hold,” and 3 rated it as a “Sell.”

    Looking at the support for the CUK, a number of firms have released research notes about the stock. Berenberg stated their Hold rating for the stock in a research note on July 29, 2020, with the firm’s price target at. Morgan Stanley coverage for the Carnival Corporation & Plc (CUK) stock in a research note released on June 03, 2020 offered a Underweight rating with a price target of. UBS was of a view on September 30, 2019 that the stock is Neutral, while Berenberg gave the stock Sell rating on September 27, 2019, issuing a price target of. Macquarie on their part issued Outperform rating on May 02, 2019.


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