Carnival (NYSE:CCL) Releases Q3 2026 Earnings Guidance

Carnival (NYSE:CCL) updated its third quarter 2026 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.350-1.350 for the period, compared to the consensus earnings per share estimate of 1.420. The company issued revenue guidance of -. Carnival also updated its FY 2026 guidance to 2.220-2.220 EPS.

Carnival Stock Up 0.5%

CCL opened at $28.86 on Thursday. The company has a quick ratio of 0.26, a current ratio of 0.33 and a debt-to-equity ratio of 1.80. The stock has a market cap of $35.75 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.27 and a beta of 2.32. The company’s 50-day moving average price is $27.37 and its two-hundred day moving average price is $28.39. Carnival has a twelve month low of $23.45 and a twelve month high of $34.03.

Carnival (NYSE:CCL) last announced its quarterly earnings data on Tuesday, June 23rd. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. Carnival had a return on equity of 26.11% and a net margin of 11.24%.The business had revenue of $6.66 billion during the quarter, compared to analyst estimates of $6.69 billion. During the same period in the prior year, the company earned $0.35 earnings per share. Carnival’s revenue was up 5.3% compared to the same quarter last year. Carnival has set its FY 2026 guidance at 2.220-2.220 EPS and its Q3 2026 guidance at 1.350-1.350 EPS. As a group, equities analysts expect that Carnival will post 2.22 earnings per share for the current year.

Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, May 18th. Carnival’s dividend payout ratio is presently 26.67%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CCL shares. Loop Capital began coverage on Carnival in a report on Monday, June 1st. They set a “buy” rating and a $36.00 price objective on the stock. TD Cowen raised their price objective on shares of Carnival from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Mizuho boosted their target price on Carnival from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, March 27th. Stifel Nicolaus boosted their price target on shares of Carnival from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Carnival in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Carnival has a consensus rating of “Moderate Buy” and a consensus price target of $35.04.

Insider Transactions at Carnival

In other Carnival news, insider Bettina Alejandra Deynes sold 43,058 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.10, for a total value of $1,209,929.80. Following the transaction, the insider owned 69,238 shares of the company’s stock, valued at approximately $1,945,587.80. This represents a 38.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sir Jonathon Band sold 11,988 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total transaction of $313,965.72. Following the completion of the transaction, the director directly owned 52,601 shares in the company, valued at approximately $1,377,620.19. The trade was a 18.56% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 55,058 shares of company stock worth $1,524,195. Insiders own 7.90% of the company’s stock.

More Carnival News

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Wall Street remains upbeat on Carnival’s underlying cruise demand, with analysts pointing to resilient bookings and record customer deposits as signs that demand is still holding up despite Europe-related headwinds. CCL stock gains premarket: Wall Street stays bullish on Carnival’s cruise demand despite Europe headwinds
• Positive Sentiment: Several analysts reiterated bullish views after Q2 results, arguing that Carnival’s trimmed guidance reflects temporary disruptions rather than a deterioration in the long-term business, and that strong bookings, yield growth, and deleveraging still support upside. Carnival faces near-term headwinds, but long-term outlook remains intact, says Jefferies
• Positive Sentiment: Carnival’s Q2 results showed record revenue, net yields, and adjusted net income, plus an earnings beat versus estimates, reinforcing that the core business is still performing well operationally. CARNIVAL CORPORATION DELIVERS RECORD SECOND QUARTER REVENUES, NET YIELDS AND ADJUSTED NET INCOME

Institutional Investors Weigh In On Carnival

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Carnival by 1.5% during the 4th quarter. State Street Corp now owns 48,074,173 shares of the company’s stock valued at $1,468,185,000 after buying an additional 704,433 shares in the last quarter. Morgan Stanley lifted its position in Carnival by 8.3% during the fourth quarter. Morgan Stanley now owns 15,449,058 shares of the company’s stock valued at $471,814,000 after purchasing an additional 1,184,763 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Carnival by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,069,144 shares of the company’s stock valued at $460,235,000 after acquiring an additional 559,128 shares during the last quarter. Viking Global Investors LP purchased a new position in shares of Carnival in the 4th quarter worth approximately $429,448,000. Finally, Invesco Ltd. increased its position in Carnival by 27.5% during the fourth quarter. Invesco Ltd. now owns 13,922,516 shares of the company’s stock valued at $425,194,000 after acquiring an additional 3,005,752 shares during the last quarter. Institutional investors own 67.19% of the company’s stock.

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.