Zacks Investment Research downgraded shares of Norwegian Cruise Line (NASDAQ:NCLH) from a buy rating to a hold rating in a research note released on Friday.
According to Zacks, “Norwegian Cruise Line is a cruise line operator. It offers cruise itineraries in various locations, including destinations in the Caribbean, Bermuda, the Bahamas, Mexico, Alaska, Europe, Hawaii, New England, Central America, North Africa, and Scandinavia. The company markets its services primarily through retail/travel agents. Norwegian Cruise Line is headquartered in Miami, Florida. “
Several other research analysts have also recently issued reports on NCLH. Stifel Nicolaus restated a buy rating and issued a $69.00 target price on shares of Norwegian Cruise Line in a report on Thursday, October 12th. Argus started coverage on shares of Norwegian Cruise Line in a report on Wednesday, October 25th. They issued a buy rating and a $68.00 target price on the stock. Morgan Stanley raised their target price on shares of Norwegian Cruise Line from $58.00 to $62.00 and gave the stock an equal weight rating in a report on Friday, November 10th. Barclays raised their target price on shares of Norwegian Cruise Line from $64.00 to $67.00 and gave the stock an overweight rating in a report on Friday, November 10th. Finally, Wedbush set a $65.00 target price on shares of Norwegian Cruise Line and gave the stock a buy rating in a report on Sunday, November 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Norwegian Cruise Line has an average rating of Hold and a consensus price target of $63.00.
Shares of Norwegian Cruise Line (NASDAQ NCLH) opened at $57.85 on Friday. Norwegian Cruise Line has a 1-year low of $44.20 and a 1-year high of $61.48. The company has a current ratio of 0.34, a quick ratio of 0.31 and a debt-to-equity ratio of 1.08. The stock has a market cap of $13,220.00, a P/E ratio of 18.08, a P/E/G ratio of 0.56 and a beta of 1.09.
Norwegian Cruise Line (NASDAQ:NCLH) last issued its quarterly earnings results on Thursday, November 9th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.04. Norwegian Cruise Line had a net margin of 13.91% and a return on equity of 16.97%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the business earned $1.62 earnings per share. The business’s quarterly revenue was up 11.2% on a year-over-year basis. research analysts anticipate that Norwegian Cruise Line will post 3.66 earnings per share for the current fiscal year.
In related news, major shareholder Apollo Management Holdings Gp, sold 5,000,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $54.11, for a total value of $270,550,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jason Montague sold 15,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $55.08, for a total value of $826,200.00. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. OxFORD Asset Management LLP purchased a new position in Norwegian Cruise Line during the third quarter valued at $348,000. Guardian Capital LP purchased a new position in Norwegian Cruise Line during the third quarter valued at $254,000. Impala Asset Management LLC purchased a new position in Norwegian Cruise Line during the second quarter valued at $23,418,000. Honeywell International Inc. lifted its position in Norwegian Cruise Line by 246.8% during the third quarter. Honeywell International Inc. now owns 513,200 shares of the company’s stock valued at $27,738,000 after buying an additional 365,200 shares during the period. Finally, IFM Investors Pty Ltd purchased a new position in Norwegian Cruise Line during the third quarter valued at $259,000. 88.85% of the stock is owned by institutional investors.
About Norwegian Cruise Line
Norwegian Cruise Line Holdings Ltd. (NCLH) is a global cruise company. The Company operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. The Company had 25 ships with approximately 50,400 Berths, as of May 1, 2017. The Company’s brands offer itineraries to various destinations around the world, including Europe, Asia, Australia, New Zealand, South America, Africa, Canada, Bermuda, Caribbean, Alaska and Hawaii.
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