Carnival Corporation (NYSE: CCL) stock is trading higher Tuesday as crude oil prices fall. The cruise operator reported third-quarter results last week that beat analyst estimates and raised its fiscal 2026 earnings outlook.
The Nasdaq is up 0.57% while the S&P 500 has gained 0.65%.
• Carnival stock is among today's top performers. What's fueling CCL momentum?
Crude oil traded around $89.5 a barrel Tuesday after falling below $87 earlier in the session as supply concerns resurfaced. Carnival operates a fuel-intensive fleet, so energy price changes affect its bottom line, according to Trading Economics.
Q3 Earnings Top Estimates
Carnival reported adjusted earnings per share (EPS) of $1.43, against the $1.36 analyst estimate. Revenue rose 3.5% year over year to $8.44 billion, above the $8.30 billion estimate. Customer deposits reached a third-quarter record of $7.6 billion.
On the earnings call, CEO Josh Weinstein said vacation demand remains resilient despite weaker consumer confidence, higher gasoline prices and inflation pressures. He said "vacations are sacrosanct" and consumers prioritize travel "in good times and in bad."
Carnival raised its fiscal 2026 adjusted EPS guidance to about $2.24 from $2.22. For the fourth quarter, it expects adjusted EPS of about 20 cents, below the 26-cent estimate.
Analyst Forecasts
Of 24 analysts, 20 rate the stock Buy and four rate it Hold. The consensus forecast of $33 implies about 24.7% upside. On Oct. 1, Freedom Broker raised its forecast to $36 from $35, while Argus Research cut its forecast to $30 from $35. Both kept Buy ratings.
Technical Analysis
At $26.64, the stock is trading above its 20-day SMA ($23.21), 50-day SMA ($25.25), and 100-day SMA ($26.30), but it's still about 3% below its 200-day SMA ($27.46). That "back above the shorter averages, still under the long one" setup often marks a transition zone where rallies need follow-through to turn into a cleaner uptrend.
The bigger-picture trend is still carrying baggage, though, with a Death Cross in March (the 50-day SMA below the 200-day SMA) and the 20-day SMA still below the 50-day SMA. That's why traders will likely treat strength as "prove it" price action until the stock can build acceptance above longer-term resistance.
- Key Resistance: $30
- Key Support: $21.50
CCL Stock Price Activity: Carnival shares were up 3.60% at $26.48 at the time of publication on Tuesday, according to market data.
