Traders Buy High Volume of Carnival Call Options (NYSE:CCL)

Carnival Corporation (NYSE:CCL) was the target of some unusual options trading activity on Friday. Stock investors purchased 83,275 call options on the stock. This represents an increase of 59% compared to the typical volume of 52,391 call options.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. State of Michigan Retirement System increased its stake in shares of Carnival by 9.9% in the second quarter. State of Michigan Retirement System now owns 312,244 shares of the company’s stock valued at $8,780,000 after buying an additional 28,000 shares during the period. AustralianSuper Pty Ltd bought a new stake in Carnival during the 2nd quarter worth approximately $37,880,000. New Century Financial Group LLC grew its holdings in Carnival by 375.7% during the 2nd quarter. New Century Financial Group LLC now owns 72,140 shares of the company’s stock worth $2,029,000 after acquiring an additional 56,976 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Carnival by 30.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 100,983 shares of the company’s stock valued at $2,840,000 after acquiring an additional 23,866 shares during the period. Finally, Convergence Investment Partners LLC bought a new position in shares of Carnival during the second quarter valued at $734,000. Institutional investors own 67.19% of the company’s stock.

Carnival Stock Performance

NYSE CCL opened at $31.13 on Friday. The firm has a 50-day moving average price of $27.26 and a two-hundred day moving average price of $28.31. Carnival has a 12-month low of $15.07 and a 12-month high of $32.80. The company has a market capitalization of $36.34 billion, a P/E ratio of 16.21, a P/E/G ratio of 0.53 and a beta of 2.53. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.10.

Carnival (NYSE:CCL) last announced its earnings results on Friday, December 19th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.25 by $0.09. The company had revenue of $6.33 billion for the quarter, compared to analysts’ expectations of $6.38 billion. Carnival had a net margin of 10.07% and a return on equity of 27.86%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. Carnival has set its Q1 2026 guidance at 0.170-0.170 EPS and its FY 2026 guidance at 2.480-2.48 EPS. Analysts anticipate that Carnival will post 1.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CCL shares. Zacks Research upgraded Carnival from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Argus cut their price target on Carnival from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, September 30th. Mizuho upped their price objective on shares of Carnival from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, September 25th. UBS Group raised their target price on shares of Carnival from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Susquehanna lifted their target price on shares of Carnival from $35.00 to $40.00 and gave the stock a “positive” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Trending Headlines about Carnival

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Q4 EPS beat and record 2025 profits — Carnival reported stronger-than-expected adjusted EPS and posted record full-year profits driven by higher yields, rising demand and cost discipline; investors view the earnings surprise as confirmation of the recovery thesis. Zacks: Carnival Q4 Earnings Beat
• Positive Sentiment: Dividend reinstated — Management announced the return of a cash dividend, a visible shift toward returning capital that buoyed investor sentiment and supports multiple expansion. Proactive: Dividend Return & Single Listing Plan
• Positive Sentiment: FY2026 guidance above Street — Carnival set FY2026 EPS at $2.48, ahead of consensus (~$2.41), signaling confidence in pricing power and demand resilience into next year. Reuters: Forecast Above Estimates
• Positive Sentiment: Proposal to unify listings — Carnival proposed a plan to move to a single NYSE-listed share, which could improve liquidity and attract U.S.-centric investors if approved. Proactive: Single NYSE Listing
• Positive Sentiment: Analyst support — Multiple firms reiterated buy ratings or bullish notes after the results and outlook, reinforcing positive analyst momentum. TipRanks: Analyst Commentary
• Neutral Sentiment: Unusual options activity — Call buying spiked intraday (large increase in call volume), indicating speculative bullish interest that can amplify moves but may reverse quickly.
• Neutral Sentiment: Management interviews and color — CEO interviews provided supportive commentary on consumer demand and pricing; useful for sentiment but not new fundamentals. YouTube: CEO Interview
• Negative Sentiment: Revenue slightly missed estimates and Q1 guide soft vs. consensus — Q4 revenue came in marginally below Street expectations and Q1 2026 EPS guidance (0.17) is a tick under consensus (0.18), giving short-term ammunition to skeptics about near-term momentum. Press Release / Slide Deck

About Carnival

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.