Carnival (CCL) Increases Despite Market Slip: Here's What You Need to Know

In the latest trading session, Carnival (CCL) closed at $19.10, marking a +0.1% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.76%. On the other hand, the Dow registered a loss of 1.14%, and the technology-centric Nasdaq decreased by 0.18%.Shares of the cruise operator have depreciated by 26.9% over the course of the past month, underperforming the Consumer Discretionary sector's loss of 8.04% and the S&P 500's loss of 7.29%.The investment community will be closely monitoring the performance of Carnival in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.02, reflecting a 114.29% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $5.75 billion, showing a 6.34% escalation compared to the year-ago quarter.CCL's full-year Zacks Consensus Estimates are calling for earnings of $1.78 per share and revenue of $26.01 billion. These results would represent year-over-year changes of +25.35% and +3.97%, respectively.Investors should also note any recent changes to analyst estimates for Carnival. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.44% rise in the Zacks Consensus EPS estimate. Carnival is currently a Zacks Rank #2 (Buy).With respect to valuation, Carnival is currently being traded at a Forward P/E ratio of 10.72. This valuation marks a discount compared to its industry's average Forward P/E of 17.36.It is also worth noting that CCL currently has a PEG ratio of 0.57. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Leisure and Recreation Services industry currently had an average PEG ratio of 1.02 as of yesterday's close.The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 68, positioning it in the top 28% 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.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks