Carnival (CCL) closed at $15.22 in the latest trading session, marking a +0.2% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.29%, and the tech-heavy Nasdaq gained 0.28%.
Prior to today's trading, shares of the cruise operator had lost 13.1% over the past month. This has lagged the Consumer Discretionary sector's gain of 5.65% and the S&P 500's gain of 6.24% in that time.
Investors will be hoping for strength from CCL as it approaches its next earnings release. The company is expected to report EPS of -$2.14, down 181.37% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $94.78 million, down 98.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$7.23 per share and revenue of $6.34 billion, which would represent changes of -264.32% and -69.55%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for CCL. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 5.73% lower. CCL currently has a Zacks Rank of #5 (Strong Sell).
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 247, putting it in the bottom 3% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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.
Zacks Investment Research