In the latest trading session, Carnival (CCL) closed at $10.45, marking a -1.04% move from the previous day. This change lagged the S&P 500's daily gain of 0.23%. At the same time, the Dow added 0.06%, and the tech-heavy Nasdaq gained 0.1%.
Heading into today, shares of the cruise operator had lost 4.78% over the past month, lagging the Consumer Discretionary sector's gain of 11.09% and the S&P 500's gain of 10.76% in that time.
Investors will be hoping for strength from Carnival as it approaches its next earnings release. In that report, analysts expect Carnival to post earnings of -$0.12 per share. This would mark year-over-year growth of 93.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.18 billion, up 848.13% from the year-ago period.
CCL's full-year Zacks Consensus Estimates are calling for earnings of -$3.75 per share and revenue of $13.72 billion. These results would represent year-over-year changes of +46.88% and +618.61%, respectively.
Any recent changes to analyst estimates for Carnival should also be noted by investors. Recent revisions tend to reflect the latest 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.98% lower. Carnival currently has a Zacks Rank of #4 (Sell).
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% 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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