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Carnival (CCL) Surges 12.5%: Is This an Indication of Further Gains?
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Carnival (CCL - Free Report) shares rallied 12.5% in the last trading session to close at $14.72. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 33.2% gain over the past four weeks.
The company is benefiting from improved booking trends, courtesy of strong demand, bundled package offerings and increased advertising activities drove the stock prices.
This cruise operator is expected to post quarterly loss of $0.35 per share in its upcoming report, which represents a year-over-year change of +78.7%. Revenues are expected to be $4.79 billion, up 99.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Carnival, the consensus EPS estimate for the quarter has been revised 4.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CCL going forward to see if this recent jump can turn into more strength down the road.
Carnival is a member of the Zacks Leisure and Recreation Services industry. One other stock in the same industry, Caesars Entertainment (CZR - Free Report) , finished the last trading session 2.5% higher at $49.73. CZR has returned 13.7% over the past month.
Caesars Entertainment's consensus EPS estimate for the upcoming report has changed -2.6% over the past month to $0.33. Compared to the company's year-ago EPS, this represents a change of +106.3%. Caesars Entertainment currently boasts a Zacks Rank of #3 (Hold).
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Carnival (CCL) Surges 12.5%: Is This an Indication of Further Gains?
Carnival (CCL - Free Report) shares rallied 12.5% in the last trading session to close at $14.72. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 33.2% gain over the past four weeks.
The company is benefiting from improved booking trends, courtesy of strong demand, bundled package offerings and increased advertising activities drove the stock prices.
This cruise operator is expected to post quarterly loss of $0.35 per share in its upcoming report, which represents a year-over-year change of +78.7%. Revenues are expected to be $4.79 billion, up 99.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Carnival, the consensus EPS estimate for the quarter has been revised 4.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CCL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Carnival is a member of the Zacks Leisure and Recreation Services industry. One other stock in the same industry, Caesars Entertainment (CZR - Free Report) , finished the last trading session 2.5% higher at $49.73. CZR has returned 13.7% over the past month.
Caesars Entertainment's consensus EPS estimate for the upcoming report has changed -2.6% over the past month to $0.33. Compared to the company's year-ago EPS, this represents a change of +106.3%. Caesars Entertainment currently boasts a Zacks Rank of #3 (Hold).