Carnival (CCL) Stock Moves -0.72%: What You Should Know

In the latest trading session, Carnival (CCL) closed at $22, marking a -0.72% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.86%. On the other hand, the Dow registered a loss of 0.9%, and the technology-centric Nasdaq decreased by 2.76%.The the stock of cruise operator has risen by 25.13% in the past month, leading the Consumer Discretionary sector's gain of 1.54% and the S&P 500's gain of 1.01%.The investment community will be paying close attention to the earnings performance of Carnival in its upcoming release. It is anticipated that the company will report an EPS of $0.06, marking a 185.71% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.89 billion, up 9.09% from the year-ago period.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Carnival. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.92% higher. Carnival is currently sporting a Zacks Rank of #1 (Strong Buy).Investors should also note Carnival's current valuation metrics, including its Forward P/E ratio of 16.88. This expresses a discount compared to the average Forward P/E of 19.85 of its industry.The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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