Carnival (CCL) Gains as the Market Falls: What You Need to Know

IIn the last trading session, Carnival (CCL) closed at $9.82, marking a +0.72% move from the previous day. The stock topped the S&P 500’s 0.16% daily loss. Meanwhile, the Dow Jones gained 0.23% and the tech-heavy Nasdaq gained 0.09%.

Prior to today’s trading, shares of the cruise line had gained 4.5% in the past month. This lagged the consumer discretionary sector’s gain of 8.64% and the S&P 500’s gain of 8.67% during this period.

Carnival will look to show strength ahead of its next earnings release. On that day, Carnival is expected to post earnings of -$0.12 per share, which would represent 93.14% year-over-year growth. Meanwhile, our latest consensus estimate calls for revenue of $5.18 billion, up 848.13% from the prior year quarter.

For the full year, our Zacks consensus estimates call for earnings of -$3.75 per share and revenue of $13.72 billion, which would represent changes of +46.88% and +618. .61%, respectively, compared to the previous year.

Any recent changes in analyst estimates for Carnival should also be noted by investors. These revisions help show the ever-changing nature of short-term trading trends. Thus, positive revisions to estimates reflect analysts’ optimism about the company’s business and profitability.

Our research shows that these estimate changes are directly correlated to short-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes into account these estimation changes and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive track record of outperformance verified by external audits, with #1 stocks generating an average annual return of +25% since 1988 Zacks Consensus’ EPS estimate fell 5.98% over the past month. Carnival is currently a Zacks Rank #4 (sell).

The recreation and leisure services industry is part of the consumer discretionary sector. This group has a Zacks Industry Rank of 135, which places it in the bottom 47% of all 250+ industries.

The Zacks Industry Rankings are ranked from best to worst in terms of the average Zacks Ranking of individual companies in each of these industries. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.

Be sure to use to track all of these stock movement metrics, and more, in future trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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