Carnival (CCL) Stock Sinks As Market Gains: What You Should Know
Carnival (CCL) closed at $15.89 in the latest trading session, marking a -1.55% move from the prior day. This change lagged the S&P 500's daily gain of 0.36%. At the same time, the Dow lost 0.21%, and the tech-heavy Nasdaq gained 0.76%.
Heading into today, shares of the cruise operator had gained 17.38% over the past month, outpacing the Consumer Discretionary sector's gain of 7.07% and the S&P 500's gain of 6.9% 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 -$2.17 per share, which would represent a year-over-year decline of 182.51%. Our most recent consensus estimate is calling for quarterly revenue of $94.78 million, down 98.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$7.33 per share and revenue of $6.20 billion, which would represent changes of -266.59% and -70.24%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for CCL. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.34% lower within the past month. CCL is holding a Zacks Rank of #4 (Sell) right now.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 242, putting it in the bottom 5% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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