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Here's Why Carnival (CCL) Gained But Lagged the Market Today
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In the latest trading session, Carnival (CCL - Free Report) closed at $14.63, marking a +0.07% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.1% for the day. On the other hand, the Dow registered a gain of 0.24%, and the technology-centric Nasdaq increased by 0.29%.
Heading into today, shares of the cruise operator had gained 28.25% over the past month, outpacing the Consumer Discretionary sector's gain of 12.3% and the S&P 500's gain of 10.68% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Carnival in its upcoming earnings disclosure. On that day, Carnival is projected to report earnings of -$0.14 per share, which would represent year-over-year growth of 83.53%. Our most recent consensus estimate is calling for quarterly revenue of $5.31 billion, up 38.27% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.07 per share and revenue of $21.51 billion, indicating changes of +98.5% and +76.74%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Carnival. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Carnival is currently a Zacks Rank #3 (Hold).
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 139, putting it in the bottom 45% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Here's Why Carnival (CCL) Gained But Lagged the Market Today
In the latest trading session, Carnival (CCL - Free Report) closed at $14.63, marking a +0.07% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.1% for the day. On the other hand, the Dow registered a gain of 0.24%, and the technology-centric Nasdaq increased by 0.29%.
Heading into today, shares of the cruise operator had gained 28.25% over the past month, outpacing the Consumer Discretionary sector's gain of 12.3% and the S&P 500's gain of 10.68% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Carnival in its upcoming earnings disclosure. On that day, Carnival is projected to report earnings of -$0.14 per share, which would represent year-over-year growth of 83.53%. Our most recent consensus estimate is calling for quarterly revenue of $5.31 billion, up 38.27% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.07 per share and revenue of $21.51 billion, indicating changes of +98.5% and +76.74%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Carnival. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Carnival is currently a Zacks Rank #3 (Hold).
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 139, putting it in the bottom 45% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.