In the latest trading session, Carnival (CCL) closed at $8.67, marking a +0.58% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.74%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 0.01%.
Heading into today, shares of the cruise operator had lost 6.51% over the past month, lagging the Consumer Discretionary sector's gain of 4.23% and the S&P 500's gain of 4.58% in that time.
Wall Street will be looking for positivity from Carnival as it approaches its next earnings report date. The company is expected to report EPS of -$0.79, up 54.07% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.1 billion, up 218.86% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$4.58 per share and revenue of $12.52 billion, which would represent changes of +35.13% and +555.79%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Carnival. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 22.92% lower within the past month. Carnival currently has a Zacks Rank of #3 (Hold).
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 129, which puts it in the bottom 49% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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