Wells Fargo & Company Cuts Carnival (NYSE:CCL) Price Target to $34.00

Posted by Francis Steltz on Oct 4th, 2026

Carnival (NYSE:CCL – Free Report) had its target price reduced by Wells Fargo & Company from $36.00 to $34.00 in a research report report published on Thursday, Marketbeat.com reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on CCL. BMO Capital Markets started coverage on Carnival in a research report on Tuesday, July 7th. They set a “market perform” rating and a $30.00 target price on the stock. Melius Research set a $36.00 price target on Carnival in a report on Wednesday, June 17th. UBS Group reaffirmed a “buy” rating and set a $36.00 price objective on shares of Carnival in a research note on Wednesday. Mizuho cut their price objective on shares of Carnival from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Freedom Capital raised shares of Carnival to a “strong-buy” rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.14.

Get Our Latest Analysis on CCL

Carnival Trading Up 3.0%

Shares of CCL opened at $25.83 on Thursday. Carnival has a fifty-two week low of $21.45 and a fifty-two week high of $34.03. The company has a market capitalization of $34.74 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.10 and a beta of 2.38. The stock has a fifty day moving average of $25.22 and a two-hundred day moving average of $26.33. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.29 and a current ratio of 0.27.

Carnival (NYSE:CCL – Get Free Report) last posted its quarterly earnings data on Tuesday, September 29th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.08. The business had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.39 billion. Carnival had a return on equity of 24.83% and a net margin of 11.37%.The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 earnings per share. Carnival has set its Q4 2026 guidance at 0.200-0.200 EPS and its FY 2026 guidance at 2.240-2.240 EPS. As a group, analysts forecast that Carnival will post 2.27 EPS for the current year.

Carnival Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 7th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 7th. Carnival’s payout ratio is 26.20%.

Institutional Investors Weigh In On Carnival

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Auto Owners Insurance Co lifted its position in shares of Carnival by 2,954.0% during the fourth quarter. Auto Owners Insurance Co now owns 19,851,000 shares of the company’s stock worth $60,625,000 after purchasing an additional 19,201,000 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Carnival by 2,432.8% in the fourth quarter. Pacer Advisors Inc. now owns 6,689,954 shares of the company’s stock valued at $204,311,000 after purchasing an additional 6,425,822 shares during the period. Norges Bank acquired a new stake in Carnival during the 4th quarter valued at $124,201,000. Milford Funds Ltd. acquired a new stake in Carnival during the 4th quarter valued at $100,741,000. Finally, Envestnet Asset Management Inc. increased its stake in Carnival by 330.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,827,261 shares of the company’s stock worth $109,345,000 after buying an additional 2,938,650 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: Carnival Cruise Line opened bookings for its 2028–2029 West Coast deployment, covering Alaska, Hawaii and Mexico. The expanded itinerary offering supports longer-term capacity utilization and revenue visibility. Carnival Cruise Line opens West Coast deployment
Positive Sentiment: Recent quarterly results exceeded expectations, with earnings per share and revenue beating consensus. Management commentary also pointed to record booking trends, strong pricing and sustained demand, reinforcing the view that Carnival’s earnings recovery remains intact. Carnival Corporation’s Q3 Earnings Beat
Positive Sentiment: An analysis argues that fuel and broader macroeconomic risks may be overstated, while travelers continue accepting higher cruise prices. Carnival’s new cruise AI app is also viewed as a potential way to improve customer engagement and onboard revenue. Carnival fuel and macro risks analysis
Positive Sentiment: Freedom Broker raised its price target and maintained a buy rating, while Barclays reaffirmed its buy recommendation. Heavy trading in Carnival call options also indicates bullish speculative interest.
Neutral Sentiment: Carnival registered a broad shelf offering that could allow it to issue stock, debt or other securities for refinancing, investments or balance-sheet management. The added financial flexibility is useful, but no immediate issuance was announced. Carnival registers broad shelf of securities
Negative Sentiment: BNP Paribas Exane, Mizuho, Argus and Wells Fargo reduced their price targets, citing valuation, fuel-cost exposure and macroeconomic uncertainty. BMO also issued a hold rating, creating a more cautious analyst backdrop despite several remaining buy or overweight ratings.

Carnival Company Profile

(Get Free Report)

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.