Zacks Research Has Pessimistic View of Carnival Q3 Earnings

Carnival Corporation (NYSE:CCL) – Stock analysts at Zacks Research lowered their Q3 2026 earnings per share estimates for Carnival in a research note issued to investors on Thursday, April 9th. Zacks Research analyst Team now forecasts that the company will post earnings of $1.39 per share for the quarter, down from their previous forecast of $1.44. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for Carnival’s current full-year earnings is $1.77 per share. Zacks Research also issued estimates for Carnival’s Q4 2026 earnings at $0.28 EPS, FY2026 earnings at $2.21 EPS, Q2 2027 earnings at $0.57 EPS, Q3 2027 earnings at $1.31 EPS, Q4 2027 earnings at $0.58 EPS, Q1 2028 earnings at $0.55 EPS and FY2028 earnings at $2.92 EPS.

Several other equities research analysts also recently commented on CCL. TD Cowen reissued a “buy” rating on shares of Carnival in a report on Tuesday, January 13th. The Goldman Sachs Group dropped their target price on Carnival from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Truist Financial dropped their target price on Carnival from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 24th. Susquehanna dropped their target price on Carnival from $40.00 to $30.00 and set a “positive” rating on the stock in a report on Monday, March 23rd. Finally, Morgan Stanley raised Carnival from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $33.00 to $31.00 in a report on Thursday, March 19th. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.17.

Carnival Trading Up 0.5%

NYSE CCL opened at $28.00 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82. The stock’s 50 day moving average is $28.42 and its 200 day moving average is $28.50. Carnival has a twelve month low of $17.05 and a twelve month high of $34.03. The firm has a market capitalization of $34.69 billion, a PE ratio of 12.44, a P/E/G ratio of 1.22 and a beta of 2.48.

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 the consensus estimate of $0.18 by $0.02. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. During the same period in the previous year, the company posted $0.13 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CCL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Carnival by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,167 shares of the company’s stock worth $2,191,000 after purchasing an additional 5,435 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Carnival in the first quarter worth $228,000. Empowered Funds LLC raised its stake in shares of Carnival by 61.6% in the first quarter. Empowered Funds LLC now owns 30,437 shares of the company’s stock worth $594,000 after purchasing an additional 11,601 shares during the last quarter. Woodline Partners LP raised its stake in shares of Carnival by 41.9% in the first quarter. Woodline Partners LP now owns 88,522 shares of the company’s stock worth $1,729,000 after purchasing an additional 26,141 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in shares of Carnival by 57.0% in the second quarter. Baird Financial Group Inc. now owns 64,720 shares of the company’s stock worth $1,820,000 after purchasing an additional 23,484 shares during the last quarter. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Sir Jonathon Band sold 11,988 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total value of $313,965.72. Following the completion of the transaction, the director owned 52,601 shares in the company, valued at $1,377,620.19. The trade was a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.90% of the company’s stock.

Carnival News Roundup

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Geo‑political easing and oil-price slide boosted travel/cruise stocks, supporting CCL as investors priced in lower fuel costs and firmer demand. Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Surged Today
• Positive Sentiment: Zacks Research raised a couple of near-term quarter estimates (Q2 2027 and Q4 2027), a modest constructive datapoint for those specific periods (Q2 0.57 from 0.48; Q4 0.58 from 0.50).
• Neutral Sentiment: Valuation/technical commentary is mixed — analysts and sites are debating whether the recent recovery offers sustainable value and noting a technical stall at prior support levels. Is Carnival (CCL) Offering Value After Recent Share Price Recovery?
• Neutral Sentiment: Technical note: some traders flagged profit‑taking after yesterday’s sharp move, suggesting short‑term volatility even if fundamentals improve. Stock Of The Day: Is The Carnival Corp. Rally Over?
• Negative Sentiment: Carnival trimmed its own guidance: Q2 2026 EPS guidance was lowered to $0.34 (vs. consensus ~$0.41) and FY2026 guidance to $2.21 (vs. consensus ~$2.38). That directly weakens near‑term expectations and is downward pressure on the stock.
• Negative Sentiment: Zacks Research issued multiple downward revisions — cuts to FY2026 (from $2.48 to $2.21), FY2028 (from $3.09 to $2.92) and several quarter estimates (Q1 2028, Q3 2026, Q3 2027) — while keeping a “Hold” stance. The aggregate effect is a softer analyst outlook.

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.