Carnival (CCL) Rises Higher Than Market: Key Facts

Carnival (CCL) closed the latest trading day at $16.14, indicating a +0.69% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.45% for the day. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.84%.Heading into today, shares of the cruise operator had gained 9.79% over the past month, outpacing the Consumer Discretionary sector's gain of 3.49% and the S&P 500's gain of 2.54% in that time.The investment community will be paying close attention to the earnings performance of Carnival in its upcoming release. The company's earnings per share (EPS) are projected to be $1.15, reflecting a 33.72% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $7.8 billion, indicating a 13.73% increase compared to the same quarter of the previous year.Investors should also take note of any recent adjustments to analyst estimates for Carnival. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Carnival currently has a Zacks Rank of #3 (Hold).In the context of valuation, Carnival is at present trading with a Forward P/E ratio of 13.52. For comparison, its industry has an average Forward P/E of 18.68, which means Carnival is trading at a discount to the group.The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 42% of all 250+ industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks