Carnival Corporation & plc [NYSE: CUK] price plunged by -4.09 percent to reach at -$0.33. The company report on November 1, 2022 that Carnival Corporation & plc Announces Closing of Convertible Notes Exchange, Extending Maturity of $87 Million of Convertible Notes at Existing 5.75% Rate.
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The 2023 Notes were exchanged for 2024 Notes with the same coupon and no dilution to shareholders at scheduled maturity versus the 2023 Notes and no upfront cost.
Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today announced that Carnival Corporation (the “Company”) has closed its previously announced exchange of approximately $87 million in aggregate principal amount of the Company’s outstanding 5.75% Convertible Senior Notes due 2023 (the “2023 Notes”) for $87 million in aggregate principal amount of the Company’s new 5.75% Convertible Senior Notes due 2024 (the “2024 Notes”).
A sum of 4683557 shares traded at recent session while its average daily volume was at 2.74M shares. Carnival Corporation & plc shares reached a high of $8.255 and dropped to a low of $7.70 until finishing in the latest session at $7.74.
Guru’s Opinion on Carnival Corporation & plc [CUK]:
Berenberg have made an estimate for Carnival Corporation & plc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 14, 2021. The new note on the price target was released on March 02, 2021, representing the official price target for Carnival Corporation & plc stock.
The Average True Range (ATR) for Carnival Corporation & plc is set at 0.51, with the Price to Sales ratio for CUK stock in the period of the last 12 months amounting to 1.09. The Price to Book ratio for the last quarter was 1.09.
CUK Stock Performance Analysis:
Carnival Corporation & plc [CUK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.26. With this latest performance, CUK shares gained by 12.66% in over the last four-week period, additionally sinking by -52.66% over the last 6 months – not to mention a drop of -63.49% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CUK stock in for the last two-week period is set at 53.75, with the RSI for the last a single of trading hit 57.32, and the three-weeks RSI is set at 50.95 for Carnival Corporation & plc [CUK]. The present Moving Average for the last 50 days of trading for this stock 7.88, while it was recorded at 7.91 for the last single week of trading, and 12.44 for the last 200 days.
Insight into Carnival Corporation & plc Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Carnival Corporation & plc [CUK] shares currently have an operating margin of -328.14 and a Gross Margin at -230.03. Carnival Corporation & plc’s Net Margin is presently recorded at -497.96.
Return on Total Capital for CUK is now -12.64, given the latest momentum, and Return on Invested Capital for the company is -21.37. Return on Equity for this stock declined to -56.17, with Return on Assets sitting at -17.16. When it comes to the capital structure of this company, Carnival Corporation & plc [CUK] has a Total Debt to Total Equity ratio set at 284.97. Additionally, CUK Total Debt to Total Capital is recorded at 74.02, with Total Debt to Total Assets ending up at 64.88. Long-Term Debt to Equity for the company is recorded at 244.96, with the Long-Term Debt to Total Capital now at 63.63.
Receivables Turnover for the company is 7.10 with a Total Asset Turnover recorded at a value of 0.03.Carnival Corporation & plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.70.
CUK Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CUK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Carnival Corporation & plc go to 13.40%.
Carnival Corporation & plc [CUK] Insider Position Details
There are presently around $190 million, or 16.60% of CUK stock, in the hands of institutional investors. The top three institutional holders of CUK stocks are: ARISTEIA CAPITAL LLC with ownership of 10,002,403, which is approximately 0.069% of the company’s market cap and around 0.10% of the total institutional ownership; JPMORGAN CHASE & CO, holding 2,078,373 shares of the stock with an approximate value of $16.09 million in CUK stocks shares; and JANUS HENDERSON GROUP PLC, currently with $11.92 million in CUK stock with ownership of nearly 3.797% of the company’s market capitalization.
Positions in Carnival Corporation & plc stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 44 institutional holders increased their position in Carnival Corporation & plc [NYSE:CUK] by around 2,942,121 shares. Additionally, 47 investors decreased positions by around 6,584,005 shares, while 15 investors held positions by with 15,029,714 shares. The mentioned changes placed institutional holdings at 24,555,840 shares, according to the latest SEC report filing. CUK stock had 15 new institutional investments in for a total of 449,859 shares, while 23 institutional investors sold positions of 701,396 shares during the same period.