Norwegian Cruise Line (NCLH) Raised to Buy at SunTrust Banks
SunTrust Banks upgraded shares of Norwegian Cruise Line (NASDAQ:NCLH) from a hold rating to a buy rating in a report released on Wednesday morning, MarketBeat.com reports. SunTrust Banks also issued estimates for Norwegian Cruise Line’s Q2 2018 earnings at $1.00 EPS, Q3 2018 earnings at $2.35 EPS, Q4 2018 earnings at $0.85 EPS, FY2018 earnings at $4.60 EPS, Q1 2019 earnings at $0.50 EPS, Q2 2019 earnings at $1.12 EPS, Q3 2019 earnings at $2.45 EPS, Q4 2019 earnings at $0.93 EPS and FY2019 earnings at $5.00 EPS.
A number of other analysts have also recently issued reports on the stock. Macquarie cut shares of Norwegian Cruise Line from a neutral rating to an underperform rating and set a $47.00 target price for the company. in a research note on Thursday, November 30th. Zacks Investment Research cut shares of Norwegian Cruise Line from a hold rating to a sell rating in a research note on Wednesday, November 8th. Tigress Financial restated a buy rating on shares of Norwegian Cruise Line in a research note on Monday, November 27th. Argus assumed 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. Finally, 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 research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. Norwegian Cruise Line presently has a consensus rating of Buy and an average price target of $63.25.
Shares of Norwegian Cruise Line (NASDAQ:NCLH) traded up $0.57 on Wednesday, hitting $59.43. 2,139,667 shares of the stock were exchanged, compared to its average volume of 1,680,000. Norwegian Cruise Line has a 52 week low of $45.15 and a 52 week high of $61.48. The company has a market cap of $13,580.00, a P/E ratio of 18.57, a PEG ratio of 0.56 and a beta of 1.09. The company has a current ratio of 0.34, a quick ratio of 0.31 and a debt-to-equity ratio of 1.08.
In other Norwegian Cruise Line news, CEO Jason Montague sold 15,000 shares of Norwegian Cruise Line stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $55.08, for a total value of $826,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Apollo Management Holdings Gp, sold 5,000,000 shares of Norwegian Cruise Line stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $54.11, for a total transaction of $270,550,000.00. The disclosure for this sale can be found here. 0.98% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of NCLH. Janus Henderson Group PLC raised its stake in Norwegian Cruise Line by 2,659.1% in the 2nd quarter. Janus Henderson Group PLC now owns 7,409,748 shares of the company’s stock worth $402,275,000 after purchasing an additional 7,141,190 shares in the last quarter. DSM Capital Partners LLC raised its stake in Norwegian Cruise Line by 106.1% in the 3rd quarter. DSM Capital Partners LLC now owns 3,591,761 shares of the company’s stock worth $194,135,000 after purchasing an additional 1,848,761 shares in the last quarter. Capital Growth Management LP acquired a new stake in Norwegian Cruise Line in the 3rd quarter worth about $65,941,000. Fred Alger Management Inc. acquired a new stake in Norwegian Cruise Line in the 2nd quarter worth about $63,312,000. Finally, Columbus Circle Investors acquired a new stake in Norwegian Cruise Line in the 3rd quarter worth about $44,026,000. Institutional investors and hedge funds own 88.85% of the company’s stock.
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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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