Yahoo Finance Carnival (CCL) Gains As Market Dips: What You Should Know
In the latest trading session, Carnival (CCL) closed at $12.30, marking a +0.99% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.59%, and the tech-heavy Nasdaq lost 1.54%.
Prior to today's trading, shares of the cruise operator had gained 21.68% over the past month. This has outpaced the Consumer Discretionary sector's loss of 2.37% and the S&P 500's gain of 4.14% in that time.
Carnival will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.35, up 78.66% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.79 billion, up 99.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.31 per share and revenue of $20.95 billion, which would represent changes of +93.36% and +72.18%, respectively, from the prior year.
Any recent changes to analyst estimates for Carnival should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 5.49% lower. Carnival is currently a Zacks Rank #3 (Hold).
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% 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
