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The latest trading session saw Carnival (CCL) ending at $25.08, denoting a -0.2% adjustment from its last day's close. Elsewhere, the Dow gained 0.32%, while the tech-heavy Nasdaq lost 0.11%.

Coming into today, shares of the cruise operator had gained 17.16% in the past month. In that same time, the Consumer Discretionary sector gained 5.42%, while the S&P 500 gained 0.97%.

The upcoming earnings release of Carnival will be of great interest to investors. On that day, Carnival is projected to report earnings of $0.06 per share, which would represent year-over-year growth of 185.71%. Our most recent consensus estimate is calling for quarterly revenue of $5.89 billion, up 9.09% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Carnival. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Carnival holds a Zacks Rank of #1 (Strong Buy).

Looking at valuation, Carnival is presently trading at a Forward P/E ratio of 18.92. This expresses a discount compared to the average Forward P/E of 20.94 of its industry.

The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 21, which puts it in the top 9% 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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Carnival Corporation (CCL) : Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.