Stifel Nicolaus Believes Carnival Corp (NYSE: CCL) Won’t Stop Here

By Jason Carr

Stifel Nicolaus analyst Steven Wieczynski reiterated a Buy rating on Carnival Corp (NYSE: CCL) on June 22 and set a price target of $74. The company’s shares closed yesterday at $66.45, close to its 52-week high of $67.30.

According to TipRanks.com, Wieczynski is a 5-star analyst with an average return of 17.4% and a 74.1% success rate. Wieczynski covers the Services sector, focusing on stocks such as International Game Technology, Monarch Casino & Resort, and Pinnacle Entertainment.

Currently, the analyst consensus on Carnival Corp is Strong Buy and the average price target is $66.25, representing a -0.3% downside.

In a report issued on June 8, William Blair also reiterated a Buy rating on the stock.

Based on Carnival Corp’s latest earnings report for the quarter ending February 28, the company posted quarterly revenue of $3.79 billion and quarterly net profit of $352 million. In comparison, last year the company earned revenue of $3.71 billion and had a net profit of $605 million.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. Most recently, in April 2017, Richard Glasier, a Director at CCL sold 6,000 shares for a total of $349,757.

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Carnival Corp. engages in operating of luxury cruises ships. It operates through the following segments: North America Cruise Brands, EAA Cruise Brands, Cruise Support, and Tour and Other. The North America Cruise Brands segment includes Carnival Cruise Line, Holland America Line, Princess and Seabourn. The EAA Cruise Brands segment offers AIDA, Costa, Cunard, P&O Cruises (Australia), P&O Cruises (UK). The Cruise Support segment represents port and related facilities and other services that are provided for the benefit of its cruise brands. The Tour and Other segment comprises of hotel and transportation operations. The company was founded in 1972 and is headquartered in Miami, FL.,003GTW-E