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Carnival (CCL) Outpaces Stock Market Gains: What You Should Know September 17, 2024
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Carnival (CCL - Free Report) closed the latest trading day at $18.03, indicating a +1.12% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 0.03%. On the other hand, the Dow registered a loss of 0.04%, and the technology-centric Nasdaq increased by 0.2%.
Coming into today, shares of the cruise operator had gained 14.3% in the past month. In that same time, the Consumer Discretionary sector gained 2.35%, while the S&P 500 gained 1.54%.
The investment community will be closely monitoring the performance of Carnival in its forthcoming earnings report. The company is scheduled to release its earnings on September 30, 2024. The company is predicted to post an EPS of $1.15, indicating a 33.72% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $7.8 billion, up 13.73% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Carnival. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Carnival is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Carnival's current valuation metrics, including its Forward P/E ratio of 15.04. For comparison, its industry has an average Forward P/E of 18.35, which means Carnival is trading at a discount to the group.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 158, positioning it in the bottom 38% of all 250+ industries.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Carnival (CCL - Free Report) closed the latest trading day at $18.03, indicating a +1.12% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 0.03%. On the other hand, the Dow registered a loss of 0.04%, and the technology-centric Nasdaq increased by 0.2%.
Coming into today, shares of the cruise operator had gained 14.3% in the past month. In that same time, the Consumer Discretionary sector gained 2.35%, while the S&P 500 gained 1.54%.
The investment community will be closely monitoring the performance of Carnival in its forthcoming earnings report. The company is scheduled to release its earnings on September 30, 2024. The company is predicted to post an EPS of $1.15, indicating a 33.72% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $7.8 billion, up 13.73% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Carnival. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Carnival is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Carnival's current valuation metrics, including its Forward P/E ratio of 15.04. For comparison, its industry has an average Forward P/E of 18.35, which means Carnival is trading at a discount to the group.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 158, positioning it in the bottom 38% of all 250+ industries.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.