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Carnival (CCL) Exceeds Market Returns: Some Facts to Consider
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In the latest trading session, Carnival (CCL - Free Report) closed at $15.95, marking a +1.66% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.25%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.03%.
The the stock of cruise operator has fallen by 2.49% in the past month, lagging the Consumer Discretionary sector's gain of 0.82% and the S&P 500's gain of 3.34%.
Investors will be eagerly watching for the performance of Carnival in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on June 25, 2024. The company is expected to report EPS of -$0.01, up 96.77% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.65 billion, up 15.12% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Carnival. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.87% fall in the Zacks Consensus EPS estimate. At present, Carnival boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Carnival currently has a Forward P/E ratio of 15.53. This represents a discount compared to its industry's average Forward P/E of 17.04.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Exceeds Market Returns: Some Facts to Consider
In the latest trading session, Carnival (CCL - Free Report) closed at $15.95, marking a +1.66% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.25%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.03%.
The the stock of cruise operator has fallen by 2.49% in the past month, lagging the Consumer Discretionary sector's gain of 0.82% and the S&P 500's gain of 3.34%.
Investors will be eagerly watching for the performance of Carnival in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on June 25, 2024. The company is expected to report EPS of -$0.01, up 96.77% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.65 billion, up 15.12% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Carnival. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.87% fall in the Zacks Consensus EPS estimate. At present, Carnival boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Carnival currently has a Forward P/E ratio of 15.53. This represents a discount compared to its industry's average Forward P/E of 17.04.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.