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Carnival (CCL) Outpaces Stock Market Gains: What You Should Know

Carnival (CCL) closed the most recent trading day at $9.03, moving +1.57% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.75%. Elsewhere, the Dow gained 0.55%, while the tech-heavy Nasdaq lost 0.01%.

Heading into today, shares of the cruise operator had gained 3.86% over the past month, lagging the Consumer Discretionary sector's gain of 6.06% and outpacing the S&P 500's gain of 3.49% in that time.

Investors will be hoping for strength from Carnival as it approaches its next earnings release. The company is expected to report EPS of -$0.87, up 49.42% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4 billion, up 210.64% from the year-ago period.

Investors should also note any recent changes to analyst estimates for Carnival. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate has moved 10.81% higher within the past month. Carnival is currently a Zacks Rank #3 (Hold).

Valuation is also important, so investors should note that Carnival has a Forward P/E ratio of 21.68 right now. For comparison, its industry has an average Forward P/E of 21.68, which means Carnival is trading at a no noticeable deviation to the group.

The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 132, which puts it in the bottom 48% 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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Carnival Corporation (CCL) : Free Stock Analysis Report

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