Is Carnival (CCL) Stock Outpacing Its Consumer Discretionary Peers This Year?
For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Carnival (CCL) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Carnival is a member of our Consumer Discretionary group, which includes 280 different companies and currently sits at #12 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Carnival is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CCL's full-year earnings has moved 54.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CCL has returned about 99% since the start of the calendar year. In comparison, Consumer Discretionary companies have returned an average of 11.7%. This means that Carnival is performing better than its sector in terms of year-to-date returns.
Another stock in the Consumer Discretionary sector, DoubleDown Interactive Co., Ltd. Sponsored ADR (DDI), has outperformed the sector so far this year. The stock's year-to-date return is 17.2%.
Over the past three months, DoubleDown Interactive Co., Ltd. Sponsored ADR's consensus EPS estimate for the current year has increased 8.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Carnival is a member of the Leisure and Recreation Services industry, which includes 34 individual companies and currently sits at #163 in the Zacks Industry Rank. On average, this group has gained an average of 21.9% so far this year, meaning that CCL is performing better in terms of year-to-date returns.
On the other hand, DoubleDown Interactive Co., Ltd. Sponsored ADR belongs to the Gaming industry. This 40-stock industry is currently ranked #105. The industry has moved +21.9% year to date.
Carnival and DoubleDown Interactive Co., Ltd. Sponsored ADR could continue their solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to these stocks.
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Carnival Corporation (CCL) : Free Stock Analysis Report
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