Carnival (CCL) Outperforms Broader Market: What You Need to Know
The latest trading session saw Carnival (CCL) ending at $14.47, denoting a +1.9% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.41%. On the other hand, the Dow registered a gain of 0.53%, and the technology-centric Nasdaq increased by 0.46%.
The the stock of cruise operator has risen by 24.02% in the past month, leading the Consumer Discretionary sector's gain of 7.79% and the S&P 500's gain of 7.62%.
The investment community will be paying close attention to the earnings performance of Carnival in its upcoming release. The company's upcoming EPS is projected at -$0.13, signifying an 84.71% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.3 billion, reflecting a 38.11% rise from the equivalent quarter last year.
CCL's full-year Zacks Consensus Estimates are calling for earnings of -$0.07 per share and revenue of $21.49 billion. These results would represent year-over-year changes of +98.5% and +76.62%, respectively.
It is also important to note the recent changes to analyst estimates for Carnival. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Carnival presently features 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 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Carnival Corporation (CCL) : Free Stock Analysis Report
