In the latest trading session, Carnival (CCL) closed at $14.60, marking a +1.32% move from the previous day. This change outpaced the S&P 500's 0.44% loss on the day. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 0.57%.
Heading into today, shares of the cruise operator had lost 5.14% over the past month, lagging the Consumer Discretionary sector's gain of 5.7% and the S&P 500's gain of 5.27% in that time.
Investors will be hoping for strength from CCL as it approaches its next earnings release. The company is expected to report EPS of -$2.14, down 181.37% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $94.78 million, down 98.55% from the prior-year quarter.
CCL's full-year Zacks Consensus Estimates are calling for earnings of -$7.33 per share and revenue of $6.20 billion. These results would represent year-over-year changes of -266.59% and -70.24%, respectively.
Any recent changes to analyst estimates for CCL should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 1.36% lower. CCL is currently a Zacks Rank #4 (Sell).
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 244, putting it in the bottom 4% 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Carnival Corporation (CCL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research