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Carnival (CCL) Gains But Lags Market: What You Should Know
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In the latest trading session, Carnival (CCL - Free Report) closed at $8.61, marking a +0.7% move from the previous day. This change lagged the S&P 500's 0.89% gain on the day. At the same time, the Dow added 1.2%, and the tech-heavy Nasdaq lost 0.68%.
Coming into today, shares of the cruise operator had lost 24.27% in the past month. In that same time, the Consumer Discretionary sector lost 7.98%, while the S&P 500 lost 3.9%.
Carnival will be looking to display strength as it nears its next earnings release, which is expected to be March 27, 2023. In that report, analysts expect Carnival to post earnings of -$0.62 per share. This would mark year-over-year growth of 62.42%. Meanwhile, our latest consensus estimate is calling for revenue of $4.35 billion, up 168.18% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.18 per share and revenue of $20.97 billion, which would represent changes of +96.15% and +72.31%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Carnival. Recent revisions tend to reflect the latest near-term business trends. 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.
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 3.54% higher. Carnival is holding a Zacks Rank of #4 (Sell) right now.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CCL in the coming trading sessions, be sure to utilize Zacks.com.
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Carnival (CCL) Gains But Lags Market: What You Should Know
In the latest trading session, Carnival (CCL - Free Report) closed at $8.61, marking a +0.7% move from the previous day. This change lagged the S&P 500's 0.89% gain on the day. At the same time, the Dow added 1.2%, and the tech-heavy Nasdaq lost 0.68%.
Coming into today, shares of the cruise operator had lost 24.27% in the past month. In that same time, the Consumer Discretionary sector lost 7.98%, while the S&P 500 lost 3.9%.
Carnival will be looking to display strength as it nears its next earnings release, which is expected to be March 27, 2023. In that report, analysts expect Carnival to post earnings of -$0.62 per share. This would mark year-over-year growth of 62.42%. Meanwhile, our latest consensus estimate is calling for revenue of $4.35 billion, up 168.18% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.18 per share and revenue of $20.97 billion, which would represent changes of +96.15% and +72.31%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Carnival. Recent revisions tend to reflect the latest near-term business trends. 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.
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 3.54% higher. Carnival is holding a Zacks Rank of #4 (Sell) right now.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CCL in the coming trading sessions, be sure to utilize Zacks.com.