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Here's Why Carnival (CCL) Fell More Than Broader Market
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In the latest close session, Carnival (CCL - Free Report) was down 4.37% at $29.34. This change lagged the S&P 500's daily loss of 0.35%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Shares of the cruise operator witnessed a gain of 18.14% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 7.46%, and the S&P 500's loss of 2.42%.
Market participants will be closely following the financial results of Carnival in its upcoming release. The company's upcoming EPS is projected at $0.22, signifying a 35.29% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.45 billion, up 1.9% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.26 per share and revenue of $27.73 billion, indicating changes of +0.44% and +4.15%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Carnival. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 0.02% lower within the past month. Carnival is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Carnival is holding a Forward P/E ratio of 13.55. For comparison, its industry has an average Forward P/E of 18.81, which means Carnival is trading at a discount to the group.
We can additionally observe that CCL currently boasts a PEG ratio of 1.31. 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 1.34 as of yesterday's close.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 170, positioning it in the bottom 32% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Here's Why Carnival (CCL) Fell More Than Broader Market
In the latest close session, Carnival (CCL - Free Report) was down 4.37% at $29.34. This change lagged the S&P 500's daily loss of 0.35%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Shares of the cruise operator witnessed a gain of 18.14% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 7.46%, and the S&P 500's loss of 2.42%.
Market participants will be closely following the financial results of Carnival in its upcoming release. The company's upcoming EPS is projected at $0.22, signifying a 35.29% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.45 billion, up 1.9% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.26 per share and revenue of $27.73 billion, indicating changes of +0.44% and +4.15%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Carnival. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 0.02% lower within the past month. Carnival is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Carnival is holding a Forward P/E ratio of 13.55. For comparison, its industry has an average Forward P/E of 18.81, which means Carnival is trading at a discount to the group.
We can additionally observe that CCL currently boasts a PEG ratio of 1.31. 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 1.34 as of yesterday's close.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 170, positioning it in the bottom 32% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.