Carnival (NYSE:CCL) Shares Gap Up – What’s Next?

10 Apr 2026, 13:18 by Sarita Garza · The Markets Daily

Carnival Corporation (NYSE:CCL – Get Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $25.20, but opened at $28.28. Carnival shares last traded at $28.4320, with a volume of 18,637,863 shares traded.

Carnival News Roundup

Here are the key news stories impacting Carnival this week:

Positive Sentiment: Geopolitical ceasefire and collapsing oil prices drove a broad travel-stock rally, boosting Carnival on hopes of lower fuel costs and improved consumer travel demand. Why Is Carnival (CCL) Stock Soaring Today
Positive Sentiment: Coverage from market outlets and analysts (e.g., Barron’s) notes the ceasefire is only one driver and highlights structural positives for Carnival — demand recovery and record adjusted EBITDA noted in recent quarterly reporting. Carnival Is Today’s Top S&P 500 Stock
Neutral Sentiment: Technical/short-term commentary: some analysts and technical pieces flag that the rally may be approaching resistance (near the 50-day moving average) and could stall, so momentum should be monitored. Stock Of The Day: Is The Carnival Corp. Rally Over?
Neutral Sentiment: Value/longer-term takes: analysts and articles are debating whether recent gains have restored value — useful for longer-term investors weighing CCL’s volatility and multi-year returns. Is Carnival (CCL) Offering Value After Recent Share Price Recovery?
Negative Sentiment: Carnival trimmed its own guidance: Q2 2026 EPS guidance of 0.34 vs. consensus ~0.41, and FY2026 guidance of 2.21 vs. consensus ~2.38 — these downward revisions are a direct negative for near-term expectations.
Negative Sentiment: Zacks Research issued multiple model changes (released 4/9): they cut FY2026 and FY2028 EPS forecasts and reduced several quarterly estimates (Q3 2026, Q3 2027, Q4 2026, Q1 2028), while raising a couple of quarter forecasts (Q2 2027, Q4 2027). Zacks maintains a “Hold” rating — the net effect is a modest negative on consensus expectations and investor sentiment.

Analyst Upgrades and Downgrades

CCL has been the topic of a number of recent research reports. Mizuho boosted their price target on shares of Carnival from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, March 27th. Argus reiterated a “buy” rating and set a $35.00 price target on shares of Carnival in a research note on Monday, December 22nd. Weiss Ratings upgraded shares of Carnival from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 30th. Truist Financial cut their price target on shares of Carnival from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 24th. Finally, Zacks Research lowered shares of Carnival from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Carnival presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.17.

Read Our Latest Analysis on CCL

Carnival Price Performance

The stock’s 50 day moving average is $28.46 and its two-hundred day moving average is $28.52. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.30 and a quick ratio of 0.26. The stock has a market capitalization of $34.54 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.22 and a beta of 2.48.

Carnival (NYSE:CCL – Get Free Report) last released its earnings results on Friday, March 27th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. Carnival had a net margin of 11.48% and a return on equity of 26.92%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. As a group, sell-side analysts forecast that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sir Jonathon Band sold 11,988 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,377,620.19. This represents a 18.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Carnival

Hedge funds have recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Carnival in the third quarter valued at approximately $1,291,000. National Pension Service increased its stake in Carnival by 10.8% in the third quarter. National Pension Service now owns 2,795,560 shares of the company’s stock valued at $80,820,000 after purchasing an additional 272,452 shares during the last quarter. Mane Global Capital Management LP purchased a new position in Carnival in the second quarter valued at approximately $55,952,000. Russell Investments Group Ltd. increased its stake in Carnival by 5.6% in the third quarter. Russell Investments Group Ltd. now owns 1,774,765 shares of the company’s stock valued at $51,867,000 after purchasing an additional 93,565 shares during the last quarter. Finally, Generali Asset Management SPA SGR purchased a new position in Carnival in the third quarter valued at approximately $1,422,000. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

About Carnival

(Get Free Report)

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.