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Carnival (CCL) Gains As Market Dips: What You Should Know

Zacks Equity Research
·2 mins read

Carnival (CCL) closed at $15.16 in the latest trading session, marking a +0.86% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.96%. Elsewhere, the Dow lost 0.48%, while the tech-heavy Nasdaq lost 2.22%.

Prior to today's trading, shares of the cruise operator had lost 14.51% over the past month. This has lagged the Consumer Discretionary sector's loss of 1.42% and the S&P 500's loss of 4.04% in that time.

CCL will be looking to display strength as it nears its next earnings release. In that report, analysts expect CCL to post earnings of -$2.22 per share. This would mark a year-over-year decline of 184.41%. Our most recent consensus estimate is calling for quarterly revenue of $100.37 million, down 98.46% from the year-ago period.

CCL's full-year Zacks Consensus Estimates are calling for earnings of -$7.44 per share and revenue of $5.91 billion. These results would represent year-over-year changes of -269.09% and -71.63%, respectively.

Investors should also note any recent changes to analyst estimates for CCL. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 1.52% lower. CCL is currently a Zacks Rank #5 (Strong Sell).

The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 243, which puts it in the bottom 4% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

To follow CCL in the coming trading sessions, be sure to utilize Zacks.com.

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