Zacks Research Has Pessimistic View of Carnival Q3 Earnings

Carnival Corporation (NYSE:CCL) – Equities researchers at Zacks Research reduced their Q3 2026 EPS estimates for shares of Carnival in a research note issued on Monday, July 6th. Zacks Research analyst Team now forecasts that the company will earn $1.35 per share for the quarter, down from their prior forecast of $1.39. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Carnival’s current full-year earnings is $2.22 per share. Zacks Research also issued estimates for Carnival’s Q4 2026 earnings at $0.26 EPS, FY2026 earnings at $2.22 EPS, Q3 2027 earnings at $1.45 EPS, Q4 2027 earnings at $0.52 EPS, Q2 2028 earnings at $0.56 EPS and FY2028 earnings at $2.93 EPS.

Other research analysts have also issued reports about the company. Weiss Ratings lowered Carnival from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Melius Research set a $36.00 price target on shares of Carnival in a report on Wednesday, June 17th. Argus set a $35.00 price objective on shares of Carnival in a report on Friday, June 26th. The Goldman Sachs Group lowered their target price on shares of Carnival from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Finally, Stifel Nicolaus increased their price target on shares of Carnival from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Carnival has an average rating of “Moderate Buy” and an average target price of $34.99.

Carnival Price Performance

Shares of CCL stock opened at $26.68 on Wednesday. Carnival has a 12 month low of $23.45 and a 12 month high of $34.03. The company has a market capitalization of $36.54 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.22 and a beta of 2.32. The stock has a 50 day moving average of $27.42 and a two-hundred day moving average of $28.46. The company has a current ratio of 0.33, a quick ratio of 0.29 and a debt-to-equity ratio of 1.80.

Carnival (NYSE:CCL) last announced its quarterly earnings data on Tuesday, June 23rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $6.69 billion. Carnival had a net margin of 11.24% and a return on equity of 26.11%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. Carnival has set its FY 2026 guidance at 2.220-2.220 EPS and its Q3 2026 guidance at 1.350-1.350 EPS.

Carnival Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, May 18th. Carnival’s payout ratio is 27.03%.

Insiders Place Their Bets

In other Carnival news, insider Bettina Alejandra Deynes sold 43,058 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the completion of the sale, the insider directly owned 69,238 shares of the company’s stock, valued at approximately $1,945,587.80. The trade was a 38.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carnival

Several hedge funds have recently bought and sold shares of CCL. Vanguard Group Inc. increased its position in shares of Carnival by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 128,133,282 shares of the company’s stock worth $3,913,190,000 after acquiring an additional 368,445 shares in the last quarter. State Street Corp boosted its stake in Carnival by 1.5% in the 4th quarter. State Street Corp now owns 48,074,173 shares of the company’s stock worth $1,468,185,000 after purchasing an additional 704,433 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Carnival by 0.8% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 36,109,629 shares of the company’s stock worth $1,043,929,000 after purchasing an additional 291,864 shares during the period. Causeway Capital Management LLC increased its holdings in Carnival by 9.6% during the 3rd quarter. Causeway Capital Management LLC now owns 31,912,001 shares of the company’s stock worth $922,576,000 after purchasing an additional 2,783,927 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Carnival by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 29,450,412 shares of the company’s stock valued at $896,104,000 after purchasing an additional 683,311 shares during the period. 67.19% of the stock is currently owned by institutional investors and hedge funds.

More Carnival News

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: ZZacks Research raised its FY2026 EPS estimate to $2.22, matching the consensus, and slightly increased its FY2028 estimate to $2.93, signaling confidence in Carnival’s longer-term earnings power.
• Positive Sentiment: Recent coverage highlighted that Carnival’s FY27 bookings remain at historical highs, with strong pricing and occupancy, suggesting demand remains healthy and Europe-related yield pressure may be temporary. Article: Carnival’s FY27 Bookings Stay Strong: Is Europe Pressure Transitory?
• Positive Sentiment: Holland America Line, a Carnival brand, announced expanded 2027 Norway itineraries and a broader 2027-2028 Caribbean season, adding to future booking opportunities and product variety. Article: Holland America Line Adds More Access to Norway’s Most Iconic Fjords in 2027
• Neutral Sentiment: Zacks Research maintained a Hold rating on CCL, implying the analysts are not turning outright bearish even as some near-term estimates were trimmed.
• Negative Sentiment: Lower EPS forecasts for Q3 2026, Q4 2026, Q4 2027, and Q2 2028 point to softer profit expectations in the near and medium term, which can pressure the shares.

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.