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Is Carnival (CCL) A Buy Heading into Q2 Earnings Announcement?
Cruise and vacation company Carnival (CCL - Free Report) is set to report fourth-quarter results on Friday before the opening bell. Carnival, a Zacks Rank #2 (Buy), has exceeded the earnings mark in each of the last eight quarters. But with the stock pulling back from its early December highs, is Carnival a buy prior to the release?
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Analysts are expecting Carnival to post quarterly earnings of 8 cents per share, reflecting a 214.3% improvement relative to the same quarter last year. Sales are projected to have increased 10% to $5.94 billion.
CCL is a Zacks Rank #2 (Buy) stock. Strong brand recognition and a strategic marketing campaign bode well for the company. The cruise liner remains focused on its fleet optimization and expansion.
Carnival has delivered a trailing four-quarter average earnings surprise of 318.1%. Our proprietary Zacks Earnings ESP indicator predicts another earnings beat for the upcoming announcement. As always, remember that stocks can be extremely volatile surrounding earnings releases.