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Carnival (CCL) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest close session, Carnival (CCL - Free Report) was down 2.91% at $29.18. This change lagged the S&P 500's daily gain of 0.37%. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, added 0.83%.
Heading into today, shares of the cruise operator had gained 17.57% over the past month, outpacing the Consumer Discretionary sector's gain of 6.48% and the S&P 500's loss of 2.29%.
Investors will be eagerly watching for the performance of Carnival in its upcoming earnings disclosure. On that day, Carnival is projected to report earnings of $0.22 per share, which would represent a year-over-year decline of 35.29%. Meanwhile, the latest consensus estimate predicts the revenue to be $6.45 billion, indicating a 1.9% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.26 per share and a revenue of $27.73 billion, indicating changes of +0.44% and +4.16%, respectively, from the former 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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. Carnival is currently a Zacks Rank #3 (Hold).
Digging into valuation, Carnival currently has a Forward P/E ratio of 13.31. This denotes a discount relative to the industry average Forward P/E of 17.6.
It's also important to note that CCL currently trades at a PEG ratio of 1.29. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Leisure and Recreation Services industry had an average PEG ratio of 1.27 as trading concluded yesterday.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 40% 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.
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 Falls Amid Market Uptick: What Investors Need to Know
In the latest close session, Carnival (CCL - Free Report) was down 2.91% at $29.18. This change lagged the S&P 500's daily gain of 0.37%. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, added 0.83%.
Heading into today, shares of the cruise operator had gained 17.57% over the past month, outpacing the Consumer Discretionary sector's gain of 6.48% and the S&P 500's loss of 2.29%.
Investors will be eagerly watching for the performance of Carnival in its upcoming earnings disclosure. On that day, Carnival is projected to report earnings of $0.22 per share, which would represent a year-over-year decline of 35.29%. Meanwhile, the latest consensus estimate predicts the revenue to be $6.45 billion, indicating a 1.9% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.26 per share and a revenue of $27.73 billion, indicating changes of +0.44% and +4.16%, respectively, from the former 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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. Carnival is currently a Zacks Rank #3 (Hold).
Digging into valuation, Carnival currently has a Forward P/E ratio of 13.31. This denotes a discount relative to the industry average Forward P/E of 17.6.
It's also important to note that CCL currently trades at a PEG ratio of 1.29. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Leisure and Recreation Services industry had an average PEG ratio of 1.27 as trading concluded yesterday.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 40% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.