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Carnival (CCL) Increases Despite Market Slip: Here's What You Need to Know
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Carnival (CCL - Free Report) closed at $24.93 in the latest trading session, marking a +1.18% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.07%. Elsewhere, the Dow gained 0.32%, while the tech-heavy Nasdaq lost 0.51%.
Prior to today's trading, shares of the cruise operator had lost 15.67% lagged the Consumer Discretionary sector's loss of 7.08% and the S&P 500's gain of 5.58%.
Investors will be eagerly watching for the performance of Carnival in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.34, showcasing a 2.86% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $6.63 billion, indicating a 4.72% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.24 per share and a revenue of $27.82 billion, indicating changes of -0.44% and +4.51%, respectively, from the former 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.97% lower. Currently, Carnival is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Carnival is at present trading with a Forward P/E ratio of 10.99. For comparison, its industry has an average Forward P/E of 15.68, which means Carnival is trading at a discount to the group.
Also, we should mention that CCL has a PEG ratio of 1.08. 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. The Leisure and Recreation Services industry currently had an average PEG ratio of 1.37 as of yesterday's close.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Increases Despite Market Slip: Here's What You Need to Know
Carnival (CCL - Free Report) closed at $24.93 in the latest trading session, marking a +1.18% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.07%. Elsewhere, the Dow gained 0.32%, while the tech-heavy Nasdaq lost 0.51%.
Prior to today's trading, shares of the cruise operator had lost 15.67% lagged the Consumer Discretionary sector's loss of 7.08% and the S&P 500's gain of 5.58%.
Investors will be eagerly watching for the performance of Carnival in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.34, showcasing a 2.86% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $6.63 billion, indicating a 4.72% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.24 per share and a revenue of $27.82 billion, indicating changes of -0.44% and +4.51%, respectively, from the former 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.97% lower. Currently, Carnival is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Carnival is at present trading with a Forward P/E ratio of 10.99. For comparison, its industry has an average Forward P/E of 15.68, which means Carnival is trading at a discount to the group.
Also, we should mention that CCL has a PEG ratio of 1.08. 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. The Leisure and Recreation Services industry currently had an average PEG ratio of 1.37 as of yesterday's close.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.