Carnival (CCL) closed the most recent trading day at $20.93, moving -1.83% from the previous trading session. This move lagged the S&P 500's daily loss of 0.44%. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq added 0.5%.
Prior to today's trading, shares of the cruise operator had gained 42.8% over the past month. This has outpaced the Consumer Discretionary sector's gain of 9.82% and the S&P 500's gain of 2.71% in that time.
Wall Street will be looking for positivity from CCL as it approaches its next earnings report date. On that day, CCL is projected to report earnings of -$1.86 per share, which would represent a year-over-year decline of 400%. Our most recent consensus estimate is calling for quarterly revenue of $150.50 million, down 96.85% from the year-ago period.
It is also important to note the recent changes to analyst estimates for CCL. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.42% lower within the past month. CCL is currently a Zacks Rank #4 (Sell).
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 229, which puts it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
