In the latest trading session, Carnival (CCL) closed at $22.17, marking a -1.12% move from the previous day. This move lagged the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 0.67%.
Heading into today, shares of the cruise operator had gained 7.79% over the past month, outpacing the Consumer Discretionary sector's loss of 4.69% and the S&P 500's loss of 5.92% in that time.
Carnival will be looking to display strength as it nears its next earnings release. On that day, Carnival is projected to report earnings of -$1.12 per share, which would represent year-over-year growth of 37.43%. Our most recent consensus estimate is calling for quarterly revenue of $2.49 billion, up 9465.1% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.68 per share and revenue of $16.31 billion, which would represent changes of +90.37% and +754.3%, respectively, from the prior 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 3.23% lower. Carnival currently has a Zacks Rank of #3 (Hold).
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow CCL in the coming trading sessions, be sure to utilize Zacks.com.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Carnival Corporation (CCL): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
