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Zacks Investment Ideas feature highlights: Carnival, Royal Caribbean and Norwegian Cruise Line
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For Immediate Release
Chicago, IL – September 29, 2026 – Today, Zacks Investment Ideas feature highlights Carnival Corporation (CCL - Free Report) , Royal Caribbean (RCL - Free Report) and Norwegian Cruise Line Holdings (NCLH - Free Report) .
Buy Carnival (CCL - Free Report) Stock Near 52-Week Lows as Q3 Earnings Approach?
Carnival Corporation, the world’s largest cruise company, is set to report fiscal third-quarter results on Tuesday, Sept. 29, with shares hovering near 52-week lows heading into the closely watched report.
Cruise stocks have faced considerable pressure this year, with major rivals Royal Caribbean and Norwegian Cruise Line Holdings also experiencing sizable pullbacks amid higher fuel costs, geopolitical disruptions, and concerns surrounding travel demand.
Still, Carnival’s steep decline and discounted valuation may have investors wondering whether CCL stock is worth buying ahead of earnings.
Carnival’s Q3 Expectations
The Zacks Consensus Estimate calls for Carnival to post Q3 EPS of $1.36, down roughly 5% year over year amid higher costs and Middle East-related disruptions to European and Mediterranean itineraries, despite quarterly revenue being projected to rise over 2% to $8.36 billion.
Encouragingly, Carnival has exceeded earnings expectations for 15 consecutive quarters, posting an average EPS surprise of 18.15% in its last four quarterly reports. The company has exceeded top-line estimates in three of the last four quarters, with an average sales surprise of 0.45%.
Investors will be watching whether resilient demand, pricing, and onboard spending can offset higher fuel and travel-related costs.
CCL Valuation Comparison
At current levels of around $22 a share, CCL trades at 10X forward earnings. This is roughly on par with Norwegian Cruise Line and slightly below Royal Caribbean’s 13X and their Zacks Leisure and Recreation Services Industry average of 17X.
That discount may reflect Carnival’s greater exposure to near-term cost pressures and a softer earnings outlook. Royal Caribbean, for comparison, is currently expected to post stronger earnings growth in 2026, while Carnival’s full-year EPS is projected to be down 2% to $2.20 per share.
Bottom Line
Carnival’s depressed share price and discounted valuation make CCL increasingly interesting near 52-week lows, particularly if Tuesday’s results show that demand remains strong despite higher costs.
However, with Q3 earnings expected to decline amid uncertainty around fuel costs and travel disruptions in Europe and Mediterranean markets, investors may want to see the upcoming results before aggressively buying the dip
For now, Carnival stock lands a Zacks Rank #3 (Hold), suggesting its valuation is attractive but that stronger earnings-estimate momentum could be needed to support a more convincing rebound.
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Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Zacks Investment Ideas feature highlights: Carnival, Royal Caribbean and Norwegian Cruise Line
For Immediate Release
Chicago, IL – September 29, 2026 – Today, Zacks Investment Ideas feature highlights Carnival Corporation (CCL - Free Report) , Royal Caribbean (RCL - Free Report) and Norwegian Cruise Line Holdings (NCLH - Free Report) .
Buy Carnival (CCL - Free Report) Stock Near 52-Week Lows as Q3 Earnings Approach?
Carnival Corporation, the world’s largest cruise company, is set to report fiscal third-quarter results on Tuesday, Sept. 29, with shares hovering near 52-week lows heading into the closely watched report.
Cruise stocks have faced considerable pressure this year, with major rivals Royal Caribbean and Norwegian Cruise Line Holdings also experiencing sizable pullbacks amid higher fuel costs, geopolitical disruptions, and concerns surrounding travel demand.
Still, Carnival’s steep decline and discounted valuation may have investors wondering whether CCL stock is worth buying ahead of earnings.
Carnival’s Q3 Expectations
The Zacks Consensus Estimate calls for Carnival to post Q3 EPS of $1.36, down roughly 5% year over year amid higher costs and Middle East-related disruptions to European and Mediterranean itineraries, despite quarterly revenue being projected to rise over 2% to $8.36 billion.
Encouragingly, Carnival has exceeded earnings expectations for 15 consecutive quarters, posting an average EPS surprise of 18.15% in its last four quarterly reports. The company has exceeded top-line estimates in three of the last four quarters, with an average sales surprise of 0.45%.
Investors will be watching whether resilient demand, pricing, and onboard spending can offset higher fuel and travel-related costs.
CCL Valuation Comparison
At current levels of around $22 a share, CCL trades at 10X forward earnings. This is roughly on par with Norwegian Cruise Line and slightly below Royal Caribbean’s 13X and their Zacks Leisure and Recreation Services Industry average of 17X.
That discount may reflect Carnival’s greater exposure to near-term cost pressures and a softer earnings outlook. Royal Caribbean, for comparison, is currently expected to post stronger earnings growth in 2026, while Carnival’s full-year EPS is projected to be down 2% to $2.20 per share.
Bottom Line
Carnival’s depressed share price and discounted valuation make CCL increasingly interesting near 52-week lows, particularly if Tuesday’s results show that demand remains strong despite higher costs.
However, with Q3 earnings expected to decline amid uncertainty around fuel costs and travel disruptions in Europe and Mediterranean markets, investors may want to see the upcoming results before aggressively buying the dip
For now, Carnival stock lands a Zacks Rank #3 (Hold), suggesting its valuation is attractive but that stronger earnings-estimate momentum could be needed to support a more convincing rebound.
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.