The most recent trading session ended with Carnival (CCL) standing at $23.83, reflecting a -0.42% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.01% gain on the day. Meanwhile, the Dow experienced a drop of 0.22%, and the technology-dominated Nasdaq saw an increase of 0.32%.
The the stock of cruise operator has risen by 22.53% in the past month, leading the Consumer Discretionary sector's gain of 6.65% and the S&P 500's gain of 5.2%.
Investors will be eagerly watching for the performance of Carnival in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.23, signifying a 109.09% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.2 billion, up 7.19% from the year-ago period.
CCL's full-year Zacks Consensus Estimates are calling for earnings of $1.85 per share and revenue of $26.05 billion. These results would represent year-over-year changes of +30.28% and +4.12%, respectively.
Investors should also take note of any recent adjustments to 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 company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.38% higher within the past month. Currently, Carnival is carrying a Zacks Rank of #3 (Hold).
Investors should also note Carnival's current valuation metrics, including its Forward P/E ratio of 12.91. This signifies a discount in comparison to the average Forward P/E of 19.74 for its industry.
One should further note that CCL currently holds a PEG ratio of 0.57. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Leisure and Recreation Services stocks are, on average, holding a PEG ratio of 1.38 based on yesterday's closing prices.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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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Carnival Corporation (CCL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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