Analysts' ratings for Carnival (NYSE:CCL) over the last quarter vary from bullish to bearish, as provided by 20 analysts.

The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.

	Bullish	Somewhat Bullish	Indifferent	Somewhat Bearish	Bearish
Total Ratings	9	8	3	0	0
Last 30D	0	0	1	0	0
1M Ago	3	0	1	0	0
2M Ago	6	7	1	0	0
3M Ago	0	1	0	0	0

Insights from analysts' 12-month price targets are revealed, presenting an average target of $37.05, a high estimate of $45.00, and a low estimate of $33.00. Witnessing a positive shift, the current average has risen by 5.23% from the previous average price target of $35.21.

Interpreting Analyst Ratings: A Closer Look

An in-depth analysis of recent analyst actions unveils how financial experts perceive Carnival. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.

Analyst	Analyst Firm	Action Taken	Rating	Current Price Target	Prior Price Target
Patrick Scholes	Truist Securities	Raises	Hold	$34.00	$31.00
Kevin Kopelman	TD Cowen	Raises	Buy	$38.00	$35.00
Robin Farley	UBS	Raises	Buy	$38.00	$37.00
Nicholas Thomas	B of A Securities	Raises	Buy	$45.00	$40.00
Richard Clarke	Bernstein	Raises	Market Perform	$33.00	$26.00
Chris Woronka	Deutsche Bank	Raises	Hold	$34.00	$33.00
Steven Wieczynski	Stifel	Raises	Buy	$40.00	$38.00
Ben Chaiken	Mizuho	Raises	Outperform	$38.00	$37.00
James Hardiman	Citigroup	Raises	Buy	$39.00	$36.00
Trey Bowers	Wells Fargo	Raises	Overweight	$38.00	$35.00
John Staszak	Argus Research	Maintains	Buy	$35.00	$35.00
Brandt Montour	Barclays	Raises	Overweight	$37.00	$36.00
Robin Farley	UBS	Raises	Buy	$37.00	$35.00
Brandt Montour	Barclays	Lowers	Overweight	$36.00	$37.00
Christopher Stathoulopoulos	Susquehanna	Raises	Positive	$40.00	$35.00
David Katz	Jefferies	Raises	Buy	$37.00	$34.00
Trey Bowers	Wells Fargo	Raises	Overweight	$35.00	$34.00
James Hardiman	Citigroup	Lowers	Buy	$36.00	$38.00
Trey Bowers	Wells Fargo	Lowers	Overweight	$34.00	$37.00
Trey Bowers	Wells Fargo	Announces	Overweight	$37.00	-

Key Insights:

• Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Carnival. This offers insight into analysts' perspectives on the current state of the company.
• Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Carnival compared to the broader market.
• Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Carnival's stock. This comparison reveals trends in analysts' expectations over time.

Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Carnival's market standing. Stay informed and make data-driven decisions with our Ratings Table.

Stay up to date on Carnival analyst ratings.

Discovering Carnival: A Closer Look

Carnival is the largest global cruise company, with more than 90 ships in service. Its portfolio of brands includes Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe. It recently folded its P&O Australia brand into Carnival. The firm also owns Holland America Princess Alaska Tours in Alaska and the Canadian Yukon. Carnival's brands attracted nearly 14 million guests in 2025.

Financial Insights: Carnival

Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.

Decline in Revenue: Over the 3M period, Carnival faced challenges, resulting in a decline of approximately -22.36% in revenue growth as of 30 November, 2025. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Discretionary sector.

Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 6.67%, the company may need to address challenges in effective cost control.

Return on Equity (ROE): Carnival's ROE excels beyond industry benchmarks, reaching 3.49%. This signifies robust financial management and efficient use of shareholder equity capital.

Return on Assets (ROA): Carnival's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 0.82%, the company may encounter challenges in delivering satisfactory returns from its assets.

Debt Management: Carnival's debt-to-equity ratio is below the industry average at 2.28, reflecting a lower dependency on debt financing and a more conservative financial approach.

How Are Analyst Ratings Determined?

Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.

Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.

This article was generated by Benzinga's automated content engine and reviewed by an editor.