Carnival FY2026 Earnings Forecast Raised by Zacks Research

Carnival Corporation (NYSE:CCL) – Stock analysts at Zacks Research upped their FY2026 earnings estimates for shares of Carnival in a research report issued to clients and investors on Monday, October 12th. Zacks Research analyst Team now forecasts that the company will earn $2.24 per share for the year, up from their previous estimate of $2.22. The consensus estimate for Carnival’s current full-year earnings is $2.27 per share. Zacks Research also issued estimates for Carnival’s Q4 2026 earnings at $0.20 EPS, Q1 2027 earnings at $0.14 EPS, Q2 2027 earnings at $0.42 EPS, Q3 2027 earnings at $1.46 EPS, Q4 2027 earnings at $0.53 EPS, FY2027 earnings at $2.55 EPS, Q1 2028 earnings at $0.29 EPS, Q2 2028 earnings at $0.53 EPS and FY2028 earnings at $2.90 EPS.

Several other equities research analysts have also recently commented on CCL. Tigress Financial reaffirmed a “buy” rating and issued a $42.00 price target on shares of Carnival in a report on Tuesday. Wells Fargo & Company lowered their price objective on Carnival from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, October 1st. Mizuho lowered their price objective on Carnival from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 30th. Sanford C. Bernstein restated a “market perform” rating and issued a $28.70 target price on shares of Carnival in a report on Wednesday, September 30th. Finally, Melius Research set a $36.00 target price on Carnival in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Carnival presently has an average rating of “Moderate Buy” and a consensus price target of $34.14.

Carnival Trading Up 0.9%

Shares of Carnival stock opened at $26.72 on Wednesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.27 and a quick ratio of 0.23. The stock’s 50 day simple moving average is $24.95 and its 200-day simple moving average is $26.40. The stock has a market cap of $35.93 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.13 and a beta of 2.38. Carnival has a 1-year low of $21.45 and a 1-year high of $34.03.

Carnival (NYSE:CCL) last released its quarterly earnings data on Tuesday, September 29th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.08. Carnival had a net margin of 11.37% and a return on equity of 24.83%. The company had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. Carnival’s quarterly revenue was up 3.5% on a year-over-year basis. Carnival has set its Q4 2026 guidance at 0.200-0.200 EPS and its FY 2026 guidance at 2.240-2.240 EPS.

Institutional Trading of Carnival

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Carnival by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 15,904,029 shares of the company’s stock worth $411,372,000 after acquiring an additional 834,885 shares during the period. Pacer Advisors Inc. increased its stake in Carnival by 2,432.8% during the fourth quarter. Pacer Advisors Inc. now owns 6,689,954 shares of the company’s stock worth $204,311,000 after acquiring an additional 6,425,822 shares during the last quarter. Amundi raised its position in Carnival by 67.3% in the second quarter. Amundi now owns 6,770,304 shares of the company’s stock valued at $193,428,000 after purchasing an additional 2,723,171 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Carnival by 21.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,930,139 shares of the company’s stock valued at $150,566,000 after purchasing an additional 872,127 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Carnival by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 5,608,651 shares of the company’s stock valued at $145,152,000 after purchasing an additional 278,758 shares during the period. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Key Carnival News

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Record results and bookings support demand: Carnival generated approximately $8.4 billion in third-quarter revenue and $1.9 billion in net income, while customer deposits and advance bookings indicate solid demand extending into 2027. These trends could support higher pricing and yields. What Carnival’s Record Q3 Earnings and Bookings Strength Means For Shareholders
• Positive Sentiment: Analyst remains bullish: Tigress Financial reaffirmed its “Buy” rating and set a $42 price target, implying substantial upside from the recently referenced share price. The call reflects confidence in Carnival’s earnings recovery and demand outlook.
• Positive Sentiment: Princess Cruises is expanding its offering: The brand announced more than 250 departures for its 2028–2029 Americas season, including a return to the Amazon and itineraries spanning the Caribbean, South America, Hawaii, Canada, and Antarctica. The broader program could help support long-term bookings and revenue diversification. Princess Cruises Unveils Expansive 2028-2029 Americas Season with Return to the Amazon
• Neutral Sentiment: Low valuation creates both opportunity and uncertainty: Carnival trades at roughly half the S&P 500’s earnings multiple, but its weaker 12-month performance raises the question of whether the discount reflects slower growth ahead. Is Carnival Stock A Real Bargain?
• Negative Sentiment: Growth headwinds remain: Capacity is expected to grow only about 0.5% in fiscal 2027, while Caribbean competition and loyalty-related pressures could limit pricing gains and offset some of the benefit from strong bookings. Can Carnival’s 0.5% Capacity Growth Support Higher FY27 Yields?

Carnival Company Profile

Carnival Corporation & plc (NYSE: CCL) is a global leisure travel company that operates cruise lines and related vacation businesses. Its brands offer ocean cruises, onboard entertainment, dining, accommodation, excursions and other travel experiences to passengers across a range of price points and destinations.

The company’s portfolio includes Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, Cunard, P&O Cruises, P&O Cruises Australia, AIDA Cruises and Costa Cruises.