Carnival (NYSE:CCL) Azioni

Carnival

Carnival is the largest global cruise company, with more than 90 ships in service at the end of fiscal 2024. 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's currently folding 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 14 million guests in 2024.

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Citigroup analyst James Hardiman maintains Carnival (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) with a Buy and raises the price target from $25 to $28.

Price Target

Analyst Ratings

Citigroup Maintains Buy on Carnival, Raises Price Target to $28

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul class="wp-block-list">
<li>Loop Capital raised Carnival Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) price target from $21 to $22. Loop Capital analyst Laura Champine maintained a Hold rating. Carnival shares closed at $23.54 on Monday. See how other analysts <a href="https://www.benzinga.com/quote/CCL/analyst-ratings">view this stock</a>.</li>
<li>Morgan Stanley boosted the price target for Kymera Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KYMR#NASDAQ">KYMR</a>) from $49 to $79. Morgan Stanley analyst James Quigley upgraded the stock from Equal-Weight to Overweight. Kymera Therapeutics shares closed at $43.13 on Monday. See how other analysts <a href="https://www.benzinga.com/quote/KYMMR/analyst-ratings">view this stock</a>.</li>
<li>Craig-Hallum raised Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) price target from $10 to $12. Craig-Hallum analyst George Sutton maintained a Buy rating. Applied Digital shares closed at $10.14 on Monday. See how other analysts <a href="https://www.benzinga.com/quote/APLD/analyst-ratings">view this stock</a>.</li>
<li>Baird raised the price target for The Toro Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTC#NYSE">TTC</a>) from $84 to $85. Baird analyst Timothy Wojs maintained a Neutral rating. Toro shares closed at $74.63 on Monday. <a href="https://www.benzinga.com/quote/TTC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>UBS increased the price target for Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) from $660 to $670. UBS analyst Timothy Chiodo maintained a Buy rating. Mastercard shares closed at $581.22 on Monday. See how other analysts <a href="https://www.benzinga.com/quote/MA/analyst-ratings">view this stock</a>.</li>
<li>Wells Fargo cut Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) price target from $130 to $125. Wells Fargo analyst Sam Reid maintained an Overweight rating. Toll Brothers shares settled at $103.31 on Monday. <a href="https://www.benzinga.com/quote/TOL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays cut FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) price target from $350 to $330. Barclays analyst Brandon Oglenski maintained an Overweight rating. FedEx shares closed at $217.89 on Monday. <a href="https://www.benzinga.com/quote/FDX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan raised Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) price target from $80 to $100. JP Morgan analyst Cory Carpenter maintained an Overweight rating. Roblox shares closed at $89.91 on Monday.  <a href="https://www.benzinga.com/quote/RBLX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Rosenblatt increased the price target for The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) from $135 to $140. Rosenblatt analyst Barton Crockett maintained a Buy rating. Disney shares settled at $112.93 on Monday. <a href="https://www.benzinga.com/quote/DIS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JP Morgan raised Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) price target from $35 to $40. JP Morgan analyst Doug Anmuth upgraded the stock from Neutral to Overweight. Pinterest shares closed at $31.92 on Monday. <a href="https://www.benzinga.com/quote/PINS/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying DIS stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/quote/DIS/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="591" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03093642/image-32-1024x591.png" alt="" class="wp-image-936756" style="width:636px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03093642/image-32-1024x591.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03093642/image-32-300x173.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03093642/image-32-768x443.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03093642/image-32.png 1117w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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Loop Capital analyst Laura Champine maintains Carnival (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) with a Hold and raises the price target from $21 to $22.

Loop Capital Maintains Hold on Carnival, Raises Price Target to $22

WIIM

Shares of cruise stocks are trading higher, possibly amid overall market strength after President Trump delayed 50% EU tariffs to July. The industry may also be experiencing a rise due to a surge in travel during Memorial Day weekend.

Shares of Carnival Corporation &amp; plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) are trading lower Friday. This is despite analyst predictions of <a href="https://www.benzinga.com/25/05/45410216/cruises-set-sail-ahead-of-summer-boom-these-3-sp-500-stocks-show-strongest-late-may-seasonality">strong summer bookings</a>.
That&#8217;s why it&#8217;s Benzinga&#8217;s Stock of the Day. It looks like the shares may find support and reverse and move higher.
The chart of Carnival illustrates two important market principles.
The first is that price levels that had been support can turn into resistance levels. In December the $23.30 level was support. In May it became a resistance level.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="569" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23114954/CCL-1024x569.png" alt="" class="wp-image-926333" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23114954/CCL-1024x569.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23114954/CCL-300x167.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23114954/CCL-768x427.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23114954/CCL.png 1480w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Support can turn into resistance because of buyer remorse. Many of the people who purchased shares while they were at support decided they made a mistake when the support broke, and the price moved lower.
Some of them decided that if they could eventually sell their shares at breakeven, they would. So when the stock finally rallied back to $23.30 in May, they placed sell orders. A large number of these orders created resistance at the price that had been supporting.
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The second principle shown on the chart is how a price that has been resistance can turn into support. This is what happened with the $21.50 level. It was resistance in March and now it has become support.
Resistance can become support because of seller remorse.
Some of the traders and investors who sold shares at the resistance in March came to regret their decisions to do so when the resistance broke and the stock moved higher. Many of them vowed to buy their shares back if they could eventually get them for the same price they were sold at.
As a result, now that the shares have dropped back to around $21.50, these remorseful sellers are placing buy orders. The large amount of these orders has formed support at the level.
Successful traders let the market tell them what to do.
If a stock is trading higher, they may use a former support level as their target because they know there is a good chance there will be resistance there. If a stock is trending lower, they may decide to buy it at a price that has been resistance because they know there is a good chance there will be support at that zone.
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Technicals

Stock Of The Day: Carnival Finds Support Amid Summer Travel Hopes

Truist Securities analyst Patrick Scholes maintains Carnival (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) with a Hold and lowers the price target from $30 to $27.

Truist Securities Maintains Hold on Carnival, Lowers Price Target to $27

Cruise line stocks are historically among the strongest seasonal performers in the S&amp;P 500 heading into the second half of May, with Royal Caribbean Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) and Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) averaging double-digit returns over a <a href="https://www.benzinga.com/topic/seasonality">three-week window.</a>
Historical data from Seasonax platforms shows that from May 14 to early June, these three stocks have consistently outperformed over the past decade, with average gains north of 10%. 
Among all S&amp;P 500 constituents, they rank at the very top for late-spring seasonality. Seasonal strength is typically fueled by ramping summer demand, strong forward bookings, and an uptick in consumer travel spending ahead of peak vacation months.
Here are the top five S&amp;P 500 stocks by average return in a three-week period starting from May 14:
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Stock</th>
<th>Avg. Return (Last 10 years)</th>
<th>Max Profit</th>
<th>Max Loss</th>
<th>Win Rate</th>
<th>Pattern Dates</th>
</tr>
</thead>
<tbody>
<tr>
<td>Norwegian Cruise Line</td>
<td>+13.75%</td>
<td>+149.63%</td>
<td>-6.59%</td>
<td>5/10</td>
<td>May 14 – Jun 7</td>
</tr>
<tr>
<td>Caesars Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>)</td>
<td>+11.98%</td>
<td>+102.49%</td>
<td>-0.11%</td>
<td>9/10</td>
<td>May 14 – Jun 6</td>
</tr>
<tr>
<td>Royal Caribbean</td>
<td>+11.52%</td>
<td>+113.71%</td>
<td>-7.48%</td>
<td>6/10</td>
<td>May 14 – Jun 6</td>
</tr>
<tr>
<td>Carnival Corp.</td>
<td>+11.28%</td>
<td>+103.02%</td>
<td>-5.19%</td>
<td>5/10</td>
<td>May 14 – Jun 6</td>
</tr>
<tr>
<td>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)</td>
<td>+10.69%</td>
<td>+88.13%</td>
<td>-4.95%</td>
<td>8/10</td>
<td>May 14 – Jun 7</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Seasonax</figcaption></figure>
<h3 class="wp-block-heading">RCL Sees Strong Summer Bookings</h3>
In a note from late April, Goldman Sachs analyst Lizzie Dove pointed to a strong reversal in booking momentum despite broader macro uncertainty and uneven travel data across the sector.
April bookings at RCL exceeded the same month last year, while close-in bookings remained firm. 
The company also reported stronger-than-usual onboard spending and pre-cruise purchases. Forward bookings for 2026 were tracking in line with 2024 levels but at higher prices—a sign of pricing power in an inflation-sensitive market.
With approximately 86% of the 2025 cruise calendar already booked, Dove's team raised their estimates and lifted the stock's price target from $245 to $260. However, they retained a slightly more cautious tone in 2026, pending more clarity on consumer resilience.
Since hitting tariff-driven lows on April 9, shares of RCL have surged 50% through mid-May —more than twice the gain of the S&amp;P 500. CCL shares matched the performance during the same period. 
<h3 class="wp-block-heading">NCLH Flags Demand Softness Amid Macro Pressures</h3>
In contrast, Norwegian Cruise Line is facing a different set of conditions. 
In early May, Bank of America analyst Andrew Didora highlighted NCLH as the first in the group to show softness in its 12-month forward-booked position.
While this wasn't viewed as unexpected—given the macro backdrop, consumer sentiment, and fare discounts introduced under the Oceania brand—it raised questions about forward pricing discipline across the cruise industry. Didora added that weakening demand isn't isolated to NCLH, and other operators may be seeing similar dynamics. 
BofA cut its 2025 and 2026 EPS forecasts for NCLH by 3% and 2%, now expecting $2.07 and $2.53, respectively. It revised the price objective down from $23 to $20 while maintaining a Neutral rating on concerns around leverage and top-line pressures.
Shares of NCLH have rallied 36% since April lows, underperforming versus peers. 
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ENPH

Cruises Set Sail Ahead Of Summer Boom: These 3 S&P 500 Stocks Show Strongest Late-May Seasonality

Proceeds from the offering of senior unsecured notes to be used to redeem $993 million 7.625% senior unsecured notes due 2026&nbsp;
MIAMI, May 12, 2025 /PRNewswire/ --&nbsp;Carnival Corporation &amp;&nbsp;plc ((NYSE/LSE: CCL, NYSE:<a href="https://www.benzinga.com/stock/CUK#NYSE">CUK</a>) today announced that Carnival Corporation (the "Company") priced its private offering (the "Notes Offering") of $1.0 billion aggregate principal amount of 5.875% senior unsecured notes due 2031 (the "Notes"). The Company expects to use the net proceeds from the Notes Offering to redeem the Company's $993 million 7.625% senior unsecured notes due 2026 (the "2026 Unsecured Notes").
The Notes Offering and the redemption of the 2026 Unsecured Notes are a continuation of the Company's strategy to reduce interest expense and manage its future debt maturities. The Company expects to reduce net annual interest expense by over $20 million through the scheduled maturity date of the 2026 Unsecured Notes as a result of the transaction and its partial redemption of $350 million of the 2026 Unsecured Notes earlier this year. In addition, the indenture that will govern the Notes will have investment grade-style covenants.
The Notes Offering is expected to close on May 21, 2025, subject to customary closing conditions. The previously announced redemption of the 2026 Unsecured Notes is expected to occur on May 22, 2025, and is conditioned on the closing of the Notes Offering.
The Notes will pay interest semi-annually on June 15 and December 15 of each year, beginning on December 15, 2025, at a rate of 5.875% per year. The Notes will be unsecured and will mature on June 15, 2031. The Notes will be fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by Carnival plc and certain of the Company's and Carnival plc's subsidiaries that also guarantee our first-priority secured indebtedness, certain of our other unsecured notes and our convertible notes.

Offerings

Carnival Corporation Announces Pricing Of $1B 5.875% Senior Unsecured Notes Offering For Refinancing And Interest Expense Reduction

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Shares of travel and leisure stocks are trading higher after the US and China agreed to a temporary reduction in most tariffs on each other's goods. This could reduce economic uncertainty that has been clouding travel and spending outlook.

Shares of travel-linked stocks are trading higher amid overall market strength following April's jobs data and reports that China's Commerce Ministry is assessing possible trade talks with the US. Better-than-feared jobs data and a potential trade deal could ease some concerns over consumer spending.

Shares of Carnival Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) fell 2.65% to $18.22 during Wednesday&#8217;s session following weaker-than-expected <a href="https://www.benzinga.com/news/earnings/25/04/45106948/norwegian-cruise-line-tumbles-after-earnings-miss-still-confident-in-2025-guidance">first-quarter earnings</a> from rival Norwegian Cruise Line Holdings Ltd, sparking renewed investor anxiety about softening demand and rising operational pressures across the cruise sector.
What To Know: Norwegian missed both earnings and revenue estimates for the <a href="https://www.benzinga.com/pressreleases/25/04/g45094877/norwegian-cruise-line-holdings-reports-first-quarter-2025-financial-results">first-quarter</a>, reporting adjusted EPS of 7 cents—22% below consensus—and a 2.9% year-over-year revenue decline, despite a robust delivery pipeline and a slew of capital investments, including the debut of its new Norwegian Aqua vessel.
The company also acknowledged pressures from reduced capacity days due to dry-docks, and flagged foreign exchange losses and softening booking trends, particularly in its 12-month forward position.
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For Carnival, the implications are significant. As an operator, Carnival is highly sensitive to shifts in consumer sentiment, macroeconomic weakness, and competitive pricing pressures. Norwegian's results suggest possible headwinds in occupancy and net yield growth—metrics closely watched across the industry.
Furthermore, Carnival&#8217;s own debt load and exposure to similar input costs, such as fuel and dry-dock expenses, could magnify the impact of such bearish signals.
With <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/45100047/recession-odds-spike-wall-street-tumbles-as-q1-gdp-surprisingly-contracts-be-patient-trump-responds">recession concerns</a> mounting after a surprise U.S. GDP contraction, investors appear to be re-rating the near-term outlook for discretionary travel stocks.
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<h2 class="wp-block-heading">How To Buy CCL Stock</h2>
By now you're likely curious about how to participate in the market for Carnival &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy &#8220;fractional shares,&#8221; which allows you to own portions of stock without buying an entire share.
In the case of Carnival, which is trading at $18.22 as of publishing time, $100 would buy you 5.49 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to &#8220;go short&#8221; a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, CCL has a 52-week high of $28.72 and a 52-week low of $13.78.

What's Going On With Carnival Stock Following Norwegian Cruise Line Earnings?

Shares of cruise stocks are trading lower in sympathy with Norwegian Cruise Line, which missed Q1 earnings and revenue estimates.

Rivals generally don't provide aid to each other, although in an indirect way, cruise ship operator Carnival Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) may be on the cusp of receiving residual benefits from its key competitor. Just recently, Royal Caribbean Cruises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) posted its <a href="https://www.benzinga.com/movers-shakers/25/04/45066484/royal-caribbean-cruises-q1-benefits-from-strong-demand-stock-surges">first-quarter fiscal 2025 earnings</a> report and overall, the results were quite encouraging. It may be just what the CCL stock needs to find its footing following a rough outing so far this year.
On the top line, Royal Caribbean posted $4 billion, implying sales growth of 7.2% on a year-over-year basis. This figure only marginally missed the analysts' consensus target of $4.01 billion — not a bad showing considering the deflated macro environment, particularly in terms of <a href="https://www.benzinga.com/25/04/45074861/us-consumer-expectations-falls-to-13-year-lows-as-recession-fears-inflation-worries-surge">consumer sentiment</a>. Notably, passenger ticket revenues rose 7.9% year-on-year to $2.74 billion, while cruise operating expenses ticked up to $2.07 billion from $2.05 billion a year ago.
Royal Caribbean CEO Jason Liberty remarked that the company is navigating "the complexities of the current macroeconomic landscape" while implementing solutions to optimize revenue and manage costs.
Following the disclosure, RCL popped sharply higher during the premarket session. However, in the early hours of the open market session, the equity was volatile. Nevertheless, the core fundamental argument is that Royal's results may be signifying a <a href="https://www.benzinga.com/news/25/04/45071496/whats-going-on-with-carnival-stock-following-royal-caribbean-earnings">return of consumer demand</a> along with pricing power in the cruise industry.
<h2 class="wp-block-heading">Looking At The True Demand Profile Of CCL Stock</h2>
While the recent headlines deliver much-needed encouragement for Carnival investors, the reality is that it's one piece of a much bigger puzzle. At the most elemental level, the market makes a decision for any given time period whether to be a net buyer of CCL stock or not. This impetus, the trigger to transition from an observer to a buyer, is demand.
What makes demand such a compelling statistic is its binary nature. Unlike price, which is a continuous scalar signal (meaning that it theoretically extends into infinity), demand has boundaries. Demand is defined or discrete. By logical deduction, demand is either happening or it's not happening — there are no half-demand states.
Thanks to this fundamental attribute, demand represents one of the few metrics that can be meaningfully measured across sentiment regimes. In other words, prices often change over decades but the impetus to buy (or not to buy) largely remains the same: when a security is purchased, it's reasonable to assume that whatever was contextually meaningful at the point of transaction triggered the greed component of the fear-greed spectrum.
Using Markovian principles of probabilistic logic, these demand triggers can be quantified and categorized for empirical analysis. Specific to CCL stock, the security printed in the past 10 weeks a "4-6" sequence: four up weeks interspersed with six down weeks, with a negative trajectory across the period.
Generally, when this sequence flashes, the odds of upside success in the subsequent week (which corresponds with the business week beginning April 28) is around 55.1%, giving the bulls a slight edge. No, it's not a game-changing shift in the probabilities. However, in the prior 30 weeks leading up to the last-10-week period, the demand profile was up week dominant, 18 weeks up to 12 weeks down.
In other words, the last 10 weeks, with their bearishly dominated profile, may have been a brief corrective spell. Moving forward, it's quite possible that the bulls may attempt to take control.
<h2 class="wp-block-heading">Strategizing for the Potential Upswing</h2>
Forecasting isn't an exact science obviously. That said, based on empirical data projected forward, there's a possibility that CCL stock can drive above the $19.40 level, perhaps touch $19.50 over the next two to three weeks. With that in mind, the most aggressive multi-leg options strategy arguably available that's within the realm of rationality is the 18.50/19.50 bull call spread expiring May 16.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/29150958/CCL-stock-10wk-forecast-1024x576.jpg" alt="" class="wp-image-893645" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/29150958/CCL-stock-10wk-forecast-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/29150958/CCL-stock-10wk-forecast-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/29150958/CCL-stock-10wk-forecast-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/29150958/CCL-stock-10wk-forecast.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image by author</figcaption></figure>
The above transaction involves buying the $18.50 call and simultaneously selling the $19.50 call, for a net debit paid of $50. Should CCL stock rise through the short strike price at expiration, the maximum reward stands at $50, a nice payout of 100%.
What makes this option strategy particularly sweet is twofold. First, the high payout implies that the market makers believe the odds of success are unfavorable. Nevertheless, the actual demand profile and empirical probabilities suggest otherwise. Second, implied volatility is several ticks lower than historic volatility, suggesting a lower overall premium to cover the risk of unexpected kinesis.
Bottom line? Wall Street right now appears to be discounting the idea that CCL stock can recover. This can be an intriguing contrarian opportunity, especially because it's offered at a relative discount.
Read next:
<ul>
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/04/45069781/trumps-first-100-days-what-he-delivered-where-he-fell-short-how-markets-reacted">Trump&#8217;s First 100 Days: What He Delivered, Where He Fell Short, How Markets Reacted</a></li>
</ul>
Photo: Shutterstock

Earnings

Long Ideas

Options

Options Corner: Carnival Could Be Setting Sail Toward A Contrarian Comeback

Carnival Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) shares initially gained 3% to $19.44 Tuesday morning, before reversing lower, amid Royal Caribbean's strong <a href="https://www.benzinga.com/movers-shakers/25/04/45066484/royal-caribbean-cruises-q1-benefits-from-strong-demand-stock-surges">first-quarter earnings</a>, potentially signaling robust consumer demand and pricing power in the cruise industry.
RCL stock traded higher by some 5% to $228.00 pre-market before dipping into the red during early Tuesday trading.
What To Know: Royal Caribbean reported a 26% jump in operating income to $945 million and <a href="https://www.benzinga.com/pressreleases/25/04/n45061747/royal-caribbean-group-reports-first-quarter-results-and-increases-full-year-guidance">an occupancy rate of 108.8%</a>, reflecting increased passenger demand. 
Passenger ticket revenue climbed nearly 8% year-over-year, and gross margin yields rose 13.9%, showing the cruise sector's ability to drive profitability despite macroeconomic pressures.
For Carnival, which operates under brands like Princess, Holland America, and Cunard, Royal Caribbean's success is a bullish signal. Both companies compete in similar markets and benefit from industry-wide tailwinds such as strong booking trends and pricing resilience. 
Importantly, Royal Caribbean raised its full-year adjusted EPS forecast significantly—from $14.35–$14.65 to $14.55–$16.55—on the back of yield growth and cost control, suggesting favorable conditions for peers like Carnival.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/45066479/rare-bullish-signal-just-flashed-on-wall-street-will-it-power-sp-500-to-6000">Rare Bullish Signal Just Flashed On Wall Street: Will It Power S&amp;P 500 To 6,000?</a>
<h2 class="wp-block-heading">How To Buy CCL Stock</h2>
By now you're likely curious about how to participate in the market for Carnival &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy &#8220;fractional shares,&#8221; which allows you to own portions of stock without buying an entire share.
In the case of Carnival, which is trading at $18.49 as of publishing time, $100 would buy you 5.41 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to &#8220;go short&#8221; a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, CCL has a 52-week high of $28.72 and a 52-week low of $13.78.

What's Going On With Carnival Stock Following Royal Caribbean Earnings?

Whales with a lot of money to spend have taken a noticeably bearish stance on Carnival.
Looking at options history for Carnival (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $279,965 and 4, calls, for a total amount of $364,028.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $25.0 for Carnival over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of Carnival stands at 4885.33, with a total volume reaching 4,971.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Carnival, situated within the strike price corridor from $10.0 to $25.0, throughout the last 30 days.
<h3>Carnival 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1745431281_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CCL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$1.5</td>
<td>$1.03</td>
<td>$1.04</td>
<td>$20.00</td>
<td>$260.5K</td>
<td>17.1K</td>
<td>2.5K</td>
</tr>
<tr>
<td>CCL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$4.55</td>
<td>$4.5</td>
<td>$4.55</td>
<td>$22.00</td>
<td>$96.4K</td>
<td>12.9K</td>
<td>226</td>
</tr>
<tr>
<td>CCL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/02/25</td>
<td>$0.83</td>
<td>$0.77</td>
<td>$0.83</td>
<td>$19.50</td>
<td>$83.0K</td>
<td>34</td>
<td>1.0K</td>
</tr>
<tr>
<td>CCL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/20/26</td>
<td>$3.6</td>
<td>$3.5</td>
<td>$3.6</td>
<td>$20.00</td>
<td>$45.0K</td>
<td>1.4K</td>
<td>126</td>
</tr>
<tr>
<td>CCL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/02/25</td>
<td>$0.98</td>
<td>$0.91</td>
<td>$0.98</td>
<td>$19.00</td>
<td>$39.2K</td>
<td>496</td>
<td>603</td>
</tr>
</tbody>
</table>

<h3>About Carnival</h3>
Carnival is the largest global cruise company, with more than 90 ships in service at the end of fiscal 2024. Its portfolio of brands includes Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&amp;O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe. It's currently folding its P&amp;O Australia brand into Carnival. The firm also owns Holland America Princess Alaska Tours in Alaska and the Canadian Yukon. Carnival's brands attracted 14 million guests in 2024.
In light of the recent options history for Carnival, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Carnival's Current Market Status</h3>
<ul>
<li>With a volume of 15,131,912, the price of CCL is up 3.48% at $18.61. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 62 days.</li>
</ul>
<h3>Professional Analyst Ratings for Carnival</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $26.33.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; An analyst from Barclays has decided to maintain their Overweight rating on Carnival, which currently sits at a price target of $26. 
&#x2A; Showing optimism, an analyst from Morgan Stanley upgrades its rating to Equal-Weight with a revised price target of $21. 
&#x2A; An analyst from Tigress Financial has decided to maintain their Strong Buy rating on Carnival, which currently sits at a price target of $32. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Carnival with <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> for real-time alerts.

A Closer Look at Carnival's Options Market Dynamics

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Select Sector SPDR-Consumer Discretionary

XPOF

Shares of companies in the broader consumer discretionary sector are trading higher after President Trump indicated tariffs against China will be lowered and trade tensions may de-escalate. Tariff concerns have weighed on the sector this year due to their expected impact on consumer spending.

Barclays analyst Brandt Montour maintains Carnival (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) with a Overweight and lowers the price target from $32 to $26.

Barclays Maintains Overweight on Carnival, Lowers Price Target to $26

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Shares of companies within the broader consumer discretionary sector are trading lower amid overall market weakness and investor concerns over deteriorating trade relationships.

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AAL,ABNB,ALGT,ALK,BA,BKNG,CCL,CUK,DAL,EXPE,H,HGV,HLT,JBLU,JTAI,LUV,MESA,NCLH,RCL,RYAAY,SKYW,TH,UAL,WH

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Shares of travel and tourism-related companies are trading lower as stocks pull back after surging Wednesday following President Trump's tariff pause announcement.

JTAI

Shares of travel and tourism-related companies are trading higher following President Trump's decision to implement a 90-day pause on reciprocal tariffs for all countries except China.

Entertainment

Press Releases

General

Cunard Announces Royal Canadian Geographical Society Speaker Line-up for 2025 Alaska Season

Holland America Line's Epic 2027 Grand Voyages Officially Open for Booking

Carnival Corporation & plc Announces Closing of $1.0 Billion 5.875% Senior Unsecured Notes Offering for Refinancing and Interest Expense Reduction

Cunard's new Sea of Glamour exhibition to feature guest stories from around the world in celebration of 185th anniversary

Sail the Untouched Wonders of the Antarctic Peninsula and Discover the Distinct Cultures of South America

Taraji P. Henson's Seven Daughters Moscato Joins Princess Cruises' Love Lines Premium Liquors Collection

Holland America Line Unveils 2027 Solar Eclipse Cruises

Cunard launches 195 new voyages, visiting 115 destinations across the globe

Holland America Line Builds on Northern Europe Expertise with Third Dedicated Ship Exploring the Region in 2027

Cunard's Transatlantic Fashion Week Returns With Fashion Icons Christian Siriano, Bob Mackie and Coco Rocha

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