Carnival (CCL) Beats Market Returns: Some Facts to Consider

In the last trading session, Carnival (CCL) closed at $15.95, up +1.66% from the previous day. The stock topped the S&P 500’s 0.25% daily gain. Elsewhere, the Dow rose 0.15%, while the tech-heavy Nasdaq rose 0.03%. .

Cruise Operators’ stock has fallen 2.49% over the past month, trailing the Consumer Discretionary sector’s 0.82% gain and the S&P 500’s 3.34% gain.

Investors will be eagerly watching Carnival’s performance when it next releases its results. The company’s earnings report is expected to be unveiled on June 25, 2024. The company is expected to report EPS of -$0.01, up 96.77% from the year-ago quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.65 billion, up 15.12% from the year-ago quarter.

Additionally, investors should keep an eye out for any recent revisions to analyst forecasts for Carnival. Recent revisions tend to reflect the latest short-term trading trends. With this in mind, we can view positive estimate revisions as a sign of optimism about the company’s business outlook.

Based on our research, we believe these estimate revisions are directly related to stock movements near the team. Investors can take advantage of this by using the Zacks Rank. This model takes these estimate changes into account and provides a simple, actionable scoring 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. Over the past month, the Zacks Consensus EPS estimate has declined by 0.87%. Currently, Carnival boasts a Zacks Rank of #3 (Hold).

Digging deeper into valuation, Carnival currently has a forward P/E ratio of 15.53. This represents a discount to its industry’s average forward P/E of 17.04.

The leisure and leisure services industry is part of the consumer discretionary sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 250+ industries.

The Zacks Industry Rank is ranked from best to worst in terms of the average Zacks Rank of the individual companies within each of these industries. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to follow all of these stock action metrics and more in upcoming trading sessions.

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