Norwegian Cruise Line (NCLH) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Norwegian Cruise Line (NASDAQ:NCLH) from a buy rating to a hold rating in a research note published on Friday morning.
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. “
A number of other equities research analysts have also issued reports on NCLH. Stifel Nicolaus reissued a buy rating and set a $69.00 target price on shares of Norwegian Cruise Line in a research note on Thursday, October 12th. Argus started coverage on shares of Norwegian Cruise Line in a research note on Wednesday, October 25th. They set a buy rating and a $68.00 target price for the company. Morgan Stanley lifted their target price on shares of Norwegian Cruise Line from $58.00 to $62.00 and gave the company an equal weight rating in a research note on Friday, November 10th. Barclays lifted their target price on shares of Norwegian Cruise Line from $64.00 to $67.00 and gave the company an overweight rating in a research note on Friday, November 10th. Finally, Wedbush set a $65.00 price objective on shares of Norwegian Cruise Line and gave the company a buy rating in a research note on Sunday, November 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Norwegian Cruise Line presently has a consensus rating of Hold and a consensus price target of $63.00.
Norwegian Cruise Line (NASDAQ:NCLH) last issued its earnings results on Thursday, November 9th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.04. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Norwegian Cruise Line had a net margin of 13.91% and a return on equity of 16.97%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $1.62 EPS. equities research analysts forecast that Norwegian Cruise Line will post 3.66 EPS for the current fiscal year.
In other Norwegian Cruise Line news, major shareholder Apollo Management Holdings Gp, sold 5,000,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $54.11, for a total transaction of $270,550,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason Montague sold 15,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $55.08, for a total transaction of $826,200.00. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Exxonmobil Investment Management Inc. TX acquired a new position in Norwegian Cruise Line during the 4th quarter worth $1,509,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Norwegian Cruise Line during the 4th quarter worth $628,000. Aurora Investment Counsel acquired a new position in Norwegian Cruise Line during the 4th quarter worth $1,501,000. GSA Capital Partners LLP lifted its position in Norwegian Cruise Line by 81.6% during the 3rd quarter. GSA Capital Partners LLP now owns 26,588 shares of the company’s stock worth $1,437,000 after acquiring an additional 11,946 shares during the last quarter. Finally, IFM Investors Pty Ltd acquired a new position in Norwegian Cruise Line during the 3rd quarter worth $259,000. 88.85% of the stock is owned by hedge funds and other 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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