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Carnival (CCL) Falls More Steeply Than Broader Market: What Investors Need to Know
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Carnival (CCL - Free Report) closed the most recent trading day at $31.15, moving -2.34% from the previous trading session. This change lagged the S&P 500's daily loss of 0.69%. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, lost 0.82%.
The stock of cruise operator has risen by 7.3% in the past month, leading the Consumer Discretionary sector's gain of 6.08% and the S&P 500's gain of 3.79%.
Investors will be eagerly watching for the performance of Carnival in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.31, indicating a 3.15% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $8.05 billion, indicating a 1.99% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2 per share and revenue of $26.49 billion, indicating changes of +40.85% and +5.86%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Carnival. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Carnival is currently a Zacks Rank #2 (Buy).
With respect to valuation, Carnival is currently being traded at a Forward P/E ratio of 15.94. This expresses a discount compared to the average Forward P/E of 22.29 of its industry.
It is also worth noting that CCL currently has a PEG ratio of 0.71. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Leisure and Recreation Services industry held an average PEG ratio of 1.31.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 192, placing it within the bottom 23% of over 250 industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Carnival (CCL) Falls More Steeply Than Broader Market: What Investors Need to Know
Carnival (CCL - Free Report) closed the most recent trading day at $31.15, moving -2.34% from the previous trading session. This change lagged the S&P 500's daily loss of 0.69%. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, lost 0.82%.
The stock of cruise operator has risen by 7.3% in the past month, leading the Consumer Discretionary sector's gain of 6.08% and the S&P 500's gain of 3.79%.
Investors will be eagerly watching for the performance of Carnival in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.31, indicating a 3.15% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $8.05 billion, indicating a 1.99% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2 per share and revenue of $26.49 billion, indicating changes of +40.85% and +5.86%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Carnival. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Carnival is currently a Zacks Rank #2 (Buy).
With respect to valuation, Carnival is currently being traded at a Forward P/E ratio of 15.94. This expresses a discount compared to the average Forward P/E of 22.29 of its industry.
It is also worth noting that CCL currently has a PEG ratio of 0.71. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Leisure and Recreation Services industry held an average PEG ratio of 1.31.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 192, placing it within the bottom 23% of over 250 industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.