Viking (NYSE:VIK) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Viking (NYSE:VIK) issued its quarterly earnings results on Thursday. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.05, FiscalAI reports. Viking had a net margin of 18.00% and a return on equity of 149.40%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion.

Viking Trading Down 1.4%

NYSE:VIK opened at $98.49 on Wednesday. The firm has a market capitalization of $43.90 billion, a price-to-earnings ratio of 36.61, a price-to-earnings-growth ratio of 1.13 and a beta of 1.50. Viking has a one year low of $56.06 and a one year high of $110.09. The business has a fifty day moving average price of $100.50 and a 200-day moving average price of $86.39. The company has a debt-to-equity ratio of 5.27, a current ratio of 0.78 and a quick ratio of 0.76.

Insider Activity at Viking

In related news, EVP Richard Marnell sold 11,287 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $92.85, for a total transaction of $1,047,997.95. Following the sale, the executive vice president owned 117,050 shares of the company’s stock, valued at $10,868,092.50. This represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 17,566 shares of company stock worth $1,640,166.

Institutional Trading of Viking

Several hedge funds and other institutional investors have recently made changes to their positions in VIK. Virtu Financial LLC acquired a new position in Viking during the fourth quarter valued at $386,000. Invesco Ltd. raised its stake in Viking by 4.1% in the fourth quarter. Invesco Ltd. now owns 14,619,029 shares of the company’s stock valued at $1,043,945,000 after buying an additional 570,672 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Viking during the fourth quarter worth approximately $2,885,000. Blue Chip Partners LLC boosted its holdings in Viking by 16.9% in the 4th quarter. Blue Chip Partners LLC now owns 14,982 shares of the company’s stock valued at $1,070,000 after purchasing an additional 2,169 shares in the last quarter. Finally, Braeburn Wealth Management LLC purchased a new position in shares of Viking in the fourth quarter valued at $259,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

VIK has been the topic of several recent research reports. Mizuho raised their target price on shares of Viking from $69.00 to $75.00 and gave the stock an “underperform” rating in a report on Friday, May 15th. BNP Paribas Exane reissued an “outperform” rating and set a $121.00 price objective (up from $104.00) on shares of Viking in a research report on Tuesday, July 14th. Loop Capital initiated coverage on shares of Viking in a research report on Monday, June 1st. They set a “buy” rating and a $108.00 target price for the company. Stifel Nicolaus set a $125.00 price objective on shares of Viking in a research note on Thursday, August 13th. Finally, Citigroup upped their price objective on Viking from $101.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $106.22.

About Viking

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships.