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Carnival (CCL) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest close session, Carnival (CCL - Free Report) was down 1.46% at $27.01. This move lagged the S&P 500's daily gain of 0.3%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq added 0.86%.
The cruise operator's stock has climbed by 3.9% in the past month, exceeding the Consumer Discretionary sector's loss of 0.12% and the S&P 500's gain of 1.92%.
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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.63 billion, up 4.72% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.21 per share and revenue of $27.83 billion. These totals would mark changes of -1.78% and +4.54%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Carnival. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.97% lower within the past month. At present, Carnival boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Carnival is presently trading at a Forward P/E ratio of 12.4. This signifies a discount in comparison to the average Forward P/E of 15.82 for its industry.
It's also important to note that CCL currently trades at a PEG ratio of 1.22. 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 was holding an average PEG ratio of 1.3 at yesterday's closing price.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 186, this industry ranks in the bottom 24% of all industries, numbering over 250.
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.
To follow CCL in the coming trading sessions, be sure to utilize Zacks.com.
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Carnival (CCL) Stock Drops Despite Market Gains: Important Facts to Note
In the latest close session, Carnival (CCL - Free Report) was down 1.46% at $27.01. This move lagged the S&P 500's daily gain of 0.3%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq added 0.86%.
The cruise operator's stock has climbed by 3.9% in the past month, exceeding the Consumer Discretionary sector's loss of 0.12% and the S&P 500's gain of 1.92%.
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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.63 billion, up 4.72% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.21 per share and revenue of $27.83 billion. These totals would mark changes of -1.78% and +4.54%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Carnival. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.97% lower within the past month. At present, Carnival boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Carnival is presently trading at a Forward P/E ratio of 12.4. This signifies a discount in comparison to the average Forward P/E of 15.82 for its industry.
It's also important to note that CCL currently trades at a PEG ratio of 1.22. 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 was holding an average PEG ratio of 1.3 at yesterday's closing price.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 186, this industry ranks in the bottom 24% of all industries, numbering over 250.
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.
To follow CCL in the coming trading sessions, be sure to utilize Zacks.com.