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Carnival (CCL) Stock Sinks As Market Gains: Here's Why
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Carnival (CCL - Free Report) ended the recent trading session at $14.46, demonstrating a -0.07% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.91%. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, added 1.51%.
Coming into today, shares of the cruise operator had lost 5.67% in the past month. In that same time, the Consumer Discretionary sector lost 7.29%, while the S&P 500 lost 4.2%.
Market participants will be closely following the financial results of Carnival in its upcoming release. The company is predicted to post an EPS of -$0.01, indicating a 96.77% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $5.66 billion, up 15.2% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Carnival. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has moved 1.22% higher. Carnival currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Carnival is currently trading at a Forward P/E ratio of 14.25. This represents a discount compared to its industry's average Forward P/E of 15.95.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 185, finds itself in the bottom 27% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Carnival (CCL) Stock Sinks As Market Gains: Here's Why
Carnival (CCL - Free Report) ended the recent trading session at $14.46, demonstrating a -0.07% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.91%. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, added 1.51%.
Coming into today, shares of the cruise operator had lost 5.67% in the past month. In that same time, the Consumer Discretionary sector lost 7.29%, while the S&P 500 lost 4.2%.
Market participants will be closely following the financial results of Carnival in its upcoming release. The company is predicted to post an EPS of -$0.01, indicating a 96.77% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $5.66 billion, up 15.2% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Carnival. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has moved 1.22% higher. Carnival currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Carnival is currently trading at a Forward P/E ratio of 14.25. This represents a discount compared to its industry's average Forward P/E of 15.95.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 185, finds itself in the bottom 27% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.