Carnival Corporation (CCL) has been in the spotlight recently as its stock price experienced a -1.79% movement in the latest market close, reaching $15.32. This decline was in contrast to the S&P 500, which registered a loss of 0.2% for the day. The Dow and Nasdaq also saw losses of 0.15% and 0.34%, respectively.
Over the past month, Carnival’s stock has dropped by 15.31%, underperforming the Consumer Discretionary sector’s gain of 1.41% and the S&P 500’s gain of 1.93%. Investors are eagerly awaiting the company’s upcoming earnings report, where analysts are expecting Carnival to post earnings of $1.15 per share, representing a year-over-year growth of 33.72%. Revenue is also expected to increase by 13.73% to $7.8 billion.
Analysts are closely monitoring any revisions to forecasts for Carnival, as these changes can indicate short-term business trends. Positive estimate revisions are typically seen as a positive sign for the company’s future performance. The Zacks Rank, a quantitative model that incorporates these estimate changes, currently rates Carnival as a #2 (Buy).
In terms of valuation, Carnival is trading at a Forward P/E ratio of 13.16, which is lower than the industry average of 18.6. This suggests that Carnival may be undervalued compared to its peers in the Leisure and Recreation Services industry, which currently has a Zacks Industry Rank of 157, placing it in the bottom 38% of all industries.
The Zacks Industry Rank is a key indicator of industry strength, with top-ranked industries outperforming the bottom half by a factor of 2 to 1. Investors can use Zacks.com to track these stock-moving metrics and stay informed about Carnival’s performance in the upcoming trading sessions.
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In conclusion, Carnival Corporation’s recent stock performance, upcoming earnings report, and industry ranking provide valuable insights for investors looking to make informed decisions in the market. Stay tuned for further updates on Carnival’s stock performance and industry trends.