Carnival (NYSE:CCL) Releases FY 2026 Earnings Guidance

Carnival (NYSE:CCL) issued an update on its FY 2026 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.210-2.21 for the period, compared to the consensus estimate of 2.380. The company issued revenue guidance of -. Carnival also updated its Q2 2026 guidance to 0.340-0.340 EPS.

Carnival Stock Down 0.6%

NYSE:CCL opened at $27.88 on Friday. Carnival has a fifty-two week low of $17.05 and a fifty-two week high of $34.03. The stock has a market capitalization of $34.54 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.22 and a beta of 2.48. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.26 and a current ratio of 0.30. The company’s 50-day simple moving average is $28.46 and its 200-day simple moving average is $28.52.

Carnival (NYSE:CCL) last released its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Carnival had a net margin of 11.48% and a return on equity of 26.92%. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. During the same period last year, the business earned $0.13 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Carnival will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CCL shares. Bank of America raised their price target on shares of Carnival from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 12th. The Goldman Sachs Group lowered their price target on shares of Carnival from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Mizuho increased their price objective on shares of Carnival from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, March 27th. Zacks Research cut shares of Carnival from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, William Blair reiterated an “outperform” rating on shares of Carnival in a research note on Tuesday, March 3rd. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.17.

Insider Buying and Selling

In related news, Director Sir Jonathon Band sold 11,988 shares of Carnival stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total value of $313,965.72. Following the completion of the sale, the director directly owned 52,601 shares in the company, valued at $1,377,620.19. This trade represents a 18.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.90% of the stock is owned by company insiders.

Key Stories Impacting Carnival

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Geopolitical ceasefire and collapsing oil prices drove a broad travel-stock rally, boosting Carnival on hopes of lower fuel costs and improved consumer travel demand. Why Is Carnival (CCL) Stock Soaring Today
• Positive Sentiment: Coverage from market outlets and analysts (e.g., Barron’s) notes the ceasefire is only one driver and highlights structural positives for Carnival — demand recovery and record adjusted EBITDA noted in recent quarterly reporting. Carnival Is Today’s Top S&P 500 Stock
• Neutral Sentiment: Technical/short-term commentary: some analysts and technical pieces flag that the rally may be approaching resistance (near the 50-day moving average) and could stall, so momentum should be monitored. Stock Of The Day: Is The Carnival Corp. Rally Over?
• Neutral Sentiment: Value/longer-term takes: analysts and articles are debating whether recent gains have restored value — useful for longer-term investors weighing CCL’s volatility and multi-year returns. Is Carnival (CCL) Offering Value After Recent Share Price Recovery?
• Negative Sentiment: Carnival trimmed its own guidance: Q2 2026 EPS guidance of 0.34 vs. consensus ~0.41, and FY2026 guidance of 2.21 vs. consensus ~2.38 — these downward revisions are a direct negative for near-term expectations.
• Negative Sentiment: Zacks Research issued multiple model changes (released 4/9): they cut FY2026 and FY2028 EPS forecasts and reduced several quarterly estimates (Q3 2026, Q3 2027, Q4 2026, Q1 2028), while raising a couple of quarter forecasts (Q2 2027, Q4 2027). Zacks maintains a “Hold” rating — the net effect is a modest negative on consensus expectations and investor sentiment.

Institutional Trading of Carnival

Institutional investors have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC acquired a new stake in Carnival during the 3rd quarter valued at approximately $25,000. Johnson Financial Group Inc. acquired a new stake in Carnival during the 3rd quarter valued at approximately $32,000. Kemnay Advisory Services Inc. acquired a new stake in Carnival during the 4th quarter valued at approximately $32,000. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Carnival during the 4th quarter valued at approximately $35,000. Finally, DV Equities LLC acquired a new stake in Carnival during the 4th quarter valued at approximately $46,000. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Carnival Company Profile

Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company’s core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.