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Carnival (CCL) Outpaces Stock Market Gains: What You Should Know

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In the latest trading session, Carnival (CCL - Free Report) closed at $15.60, marking a +1.69% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 0.61%.

Heading into today, shares of the cruise operator had gained 48.07% over the past month, outpacing the Consumer Discretionary sector's gain of 4.16% and the S&P 500's gain of 6.1% in that time.

Investors will be hoping for strength from Carnival as it approaches its next earnings release, which is expected to be June 26, 2023. In that report, analysts expect Carnival to post earnings of -$0.35 per share. This would mark year-over-year growth of 78.66%. Our most recent consensus estimate is calling for quarterly revenue of $4.79 billion, up 99.54% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.31 per share and revenue of $20.96 billion. These totals would mark changes of +93.36% and +72.28%, respectively, from last year.

Any recent changes to analyst estimates for Carnival should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.56% lower. Carnival is currently sporting a Zacks Rank of #3 (Hold).

The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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

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