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

Zacks Equity Research

Carnival (CCL) closed at $13.78 in the latest trading session, marking a -1.71% move from the prior day. This move lagged the S&P 500's daily gain of 0.64%. At the same time, the Dow added 0.68%, and the tech-heavy Nasdaq gained 1%.

Wall Street will be looking for positivity from CCL as it approaches its next earnings report date. On that day, CCL is projected to report earnings of -$2.14 per share, which would represent a year-over-year decline of 181.37%. Meanwhile, our latest consensus estimate is calling for revenue of $94.78 million, down 98.55% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$7.23 per share and revenue of $6.34 billion. These totals would mark changes of -264.32% and -69.55%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for CCL. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 17.11% lower. CCL is currently a Zacks Rank #5 (Strong Sell).

The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 235, which puts it in the bottom 8% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Zacks Investment Research