Carnival (NYSE:CCL) Issues Q3 2026 Earnings Guidance

Carnival (NYSE:CCL) issued an update on its third quarter 2026 earnings guidance on Tuesday morning. 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 Performance

Shares of CCL opened at $28.75 on Wednesday. The firm has a market cap of $35.62 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.33 and a beta of 2.32. 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 business’s 50 day moving average is $27.34 and its two-hundred day moving average is $28.37. Carnival has a 52-week low of $23.45 and a 52-week high of $34.03.

Carnival (NYSE:CCL) last released its quarterly earnings results on Tuesday, June 23rd. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.69 billion. Carnival had a net margin of 11.48% and a return on equity of 26.92%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. Carnival has set its FY 2026 guidance at 2.220-2.220 EPS and its Q3 2026 guidance at 1.350-1.350 EPS. Analysts forecast that Carnival will post 2.22 EPS for the current fiscal year.

Carnival Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Monday, May 18th. Carnival’s dividend payout ratio (DPR) is currently 26.67%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CCL shares. Melius Research set a $36.00 price target on Carnival in a report on Wednesday, June 17th. Weiss Ratings cut Carnival from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. UBS Group decreased their price objective on shares of Carnival from $38.00 to $35.00 and set a “buy” rating for the company in a report on Monday, April 13th. Stifel Nicolaus increased their target price on shares of Carnival from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Finally, Truist Financial reduced their price target on shares of Carnival from $30.00 to $29.00 and set a “hold” rating on the stock in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Carnival currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.90.

Insider Activity at Carnival

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the 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 sale, the director directly owned 52,601 shares of the company’s stock, valued at $1,377,620.19. This trade represents a 18.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bettina Alejandra Deynes sold 43,058 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.10, for a total value of $1,209,929.80. Following the completion of the sale, the insider owned 69,238 shares in the company, valued at $1,945,587.80. The trade was a 38.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 55,058 shares of company stock worth $1,524,195. 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: Carnival reported record Q2 results, including adjusted EPS of $0.41 versus expectations around $0.34-$0.35, revenue of $6.66 billion, record net yields, and record customer deposits, showing demand remains resilient. Article Title
• Positive Sentiment: Management highlighted strong bookings, ongoing yield growth, cost efficiencies, and continued deleveraging, which analysts at UBS and William Blair said support further upside. Article Title
• Positive Sentiment: Carnival said it surpassed $450 million in stock repurchases, reinforcing shareholder-return momentum. Article Title
• Neutral Sentiment: Coverage over the past day also highlighted Carnival as a leader among leisure stocks and noted renewed investor interest after a strong one-year return. Article Title
• Negative Sentiment: Investors were disappointed by Carnival’s third-quarter EPS guidance of about $1.35, which came in below Wall Street expectations near $1.42, and by a slightly softer full-year outlook. Article Title
• Negative Sentiment: Higher fuel costs and geopolitical disruptions, especially in the Middle East and Mediterranean, are weighing on sentiment and raising concern that strong Q2 results may not fully carry into the second half of 2026. Article Title
• Negative Sentiment: Reports also pointed to pressure from a Texas investigation into Carnival’s April data breach, adding a separate headline risk for the stock. Article Title

Institutional Trading of Carnival

Large investors have recently modified their holdings of the company. StoneX Group Inc. grew its position in Carnival by 4.9% in the 4th quarter. StoneX Group Inc. now owns 7,935 shares of the company’s stock worth $242,000 after purchasing an additional 368 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Carnival by 1.9% during the third quarter. Brooklyn Investment Group now owns 21,363 shares of the company’s stock valued at $618,000 after buying an additional 396 shares during the last quarter. Orion Porfolio Solutions LLC lifted its stake in shares of Carnival by 3.9% in the fourth quarter. Orion Porfolio Solutions LLC now owns 11,816 shares of the company’s stock valued at $361,000 after buying an additional 446 shares during the period. Dorsey & Whitney Trust CO LLC grew its position in Carnival by 6.1% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,173 shares of the company’s stock worth $250,000 after buying an additional 468 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in Carnival by 1.9% during the third quarter. Kestra Private Wealth Services LLC now owns 25,613 shares of the company’s stock worth $740,000 after buying an additional 478 shares in the last quarter. Institutional investors and hedge funds 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.