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Carnival (CCL) Gains As Market Dips: What You Should Know
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In the latest trading session, Carnival (CCL - Free Report) closed at $8.93, marking a +0.22% move from the previous day. This move outpaced the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, added 0.17%.
Prior to today's trading, shares of the cruise operator had lost 20.16% over the past month. This has lagged the Consumer Discretionary sector's gain of 1.85% and the S&P 500's gain of 0.89% in that time.
Wall Street will be looking for positivity from Carnival as it approaches its next earnings report date. On that day, Carnival is projected to report earnings of -$0.87 per share, which would represent year-over-year growth of 49.42%. Meanwhile, our latest consensus estimate is calling for revenue of $4 billion, up 210.65% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Carnival. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.81% higher within the past month. Carnival is currently a Zacks Rank #3 (Hold).
In terms of valuation, Carnival is currently trading at a Forward P/E ratio of 21.73. This valuation marks a premium compared to its industry's average Forward P/E of 19.09.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Carnival (CCL) Gains As Market Dips: What You Should Know
In the latest trading session, Carnival (CCL - Free Report) closed at $8.93, marking a +0.22% move from the previous day. This move outpaced the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, added 0.17%.
Prior to today's trading, shares of the cruise operator had lost 20.16% over the past month. This has lagged the Consumer Discretionary sector's gain of 1.85% and the S&P 500's gain of 0.89% in that time.
Wall Street will be looking for positivity from Carnival as it approaches its next earnings report date. On that day, Carnival is projected to report earnings of -$0.87 per share, which would represent year-over-year growth of 49.42%. Meanwhile, our latest consensus estimate is calling for revenue of $4 billion, up 210.65% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Carnival. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.81% higher within the past month. Carnival is currently a Zacks Rank #3 (Hold).
In terms of valuation, Carnival is currently trading at a Forward P/E ratio of 21.73. This valuation marks a premium compared to its industry's average Forward P/E of 19.09.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.