Is Carnival going out of business?

No, Carnivals not likely to go bankrupt. It still has $7 billion in liquidity on its balance sheet as of the most recent quarters end, which should tide it over for a few more quarters.



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The world's largest cruise line operator is trading 126% higher in 2023. It might not be too late to hop aboard. The waves keep rising for Carnival (CCL -6.60%). Shares of the world's largest cruise line operator have more than doubled this year, and the Wall Street accolades keep coming.

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However, investors should note that Carnival's debt levels more than tripled throughout the COVID-19 crisis. It ended the first quarter of fiscal 2023 with $32.7 billion in long-term debt, compared to $9.7 billion at the end of fiscal 2019, which gives it a staggering debt-to-equity ratio of 5.6.

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Given its recovering revenue levels, Carnival should survive. Nonetheless, its ability for near-term prosperity appears seriously in doubt. As significant portions of the debt mature in 2026 and beyond, Carnival could find itself in a deeper debt trap.

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Cruise giant Carnival was hit hard during the worst of the pandemic. Now, a top Wall Street analyst has issued a dire potential outlook for the company in the case of recession. Morgan Stanley's Jamie Rollo outlined a worse-case scenario: Carnival stock could fall to $0 in the event of a global economic downturn.

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Carnival stock price stood at $12.74 According to the latest long-term forecast, Carnival price will hit $20 by the end of 2024 and then $25 by the end of 2026. Carnival will rise to $30 within the year of 2028, $35 in 2030, $40 in 2033 and $45 in 2035.

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How Much Debt Does Carnival Corporation & Carry? The chart below, which you can click on for greater detail, shows that Carnival Corporation & had US$33.8b in debt in May 2023; about the same as the year before. However, it also had US$4.47b in cash, and so its net debt is US$29.3b.

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Stock Price Forecast The 18 analysts offering 12-month price forecasts for Carnival Corp have a median target of 16.50, with a high estimate of 25.00 and a low estimate of 10.18. The median estimate represents a +29.46% increase from the last price of 12.75.

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Carnival stock is not keeping up with soaring revenue Carnival's business performs much better than its stock performance would suggest. Carnival reported record revenue in the most recent quarter of $6.8 billion, but the stock is still in the bargain bin.

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The latest closing stock price for Carnival as of October 03, 2023 is 12.74.
  • The all-time high Carnival stock closing price was 66.19 on January 29, 2018.
  • The Carnival 52-week high stock price is 19.55, which is 53.5% above the current share price.


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Carnival and Disney paused dividend payments due to complications from the pandemic. Fool.com contributor Parkev Tatevosian evaluates Carnival (CCL -5.19%) and Disney (DIS -0.89%) to determine which company is in a better financial position to pay a dividend.

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Is Carnival stock a Buy, Sell or Hold? Carnival stock has received a consensus rating of buy. The average rating score is and is based on 35 buy ratings, 19 hold ratings, and 13 sell ratings.

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Market pros have also been inching their price targets higher for Royal Caribbean and Norwegian. It's not a surprise. The revenge travel surge that helped lift most travel and tourism stocks in 2021 and 2022 is finally coming around to raise the water for cruise line stocks in 2023.

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