Zacks Investment Research lowered shares of Norwegian Cruise Line (NASDAQ:NCLH) from a buy rating to a hold rating in a research report released on Friday morning.
According to Zacks, “Norwegian Cruise Line is being aided by higher passenger ticket revenues owing to increased demand for cruise travel. Its focus on the lucrative Chinese market is also impressive. In 2017, the company announced a partnership with Alibaba Group. Norwegian Cruise Line’s measures to expand its fleet size too bode well. In line with its fleet upgrade efforts, the company ordered two next-generation ships in January 2019. They will be delivered between 2022 and 2025. Each ship will accommodate approximately 1,200 guests. The company’s efforts to reward its shareholders through buybacks are added positive. On the flip side, similar to the third quarter of 2018, high costs are likely to hurt the company’s bottom line in the fourth quarter. Moreover, the company's high debt levels raise concerns. In fact, shares of Norwegian Cruise Line have declined 17.8% in a year's time.”
Several other equities analysts have also commented on NCLH. BidaskClub upgraded shares of Norwegian Cruise Line from a buy rating to a strong-buy rating in a report on Friday, September 21st. Macquarie upgraded shares of Norwegian Cruise Line from an underperform rating to a neutral rating and set a $55.00 price objective on the stock in a report on Friday, September 28th. JPMorgan Chase & Co. restated a buy rating on shares of Norwegian Cruise Line in a report on Thursday, October 11th. Deutsche Bank set a $68.00 price objective on shares of Norwegian Cruise Line and gave the stock a buy rating in a report on Friday, November 9th. Finally, Citigroup decreased their price objective on shares of Norwegian Cruise Line from $62.00 to $59.00 and set a buy rating on the stock in a report on Monday, November 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Norwegian Cruise Line presently has a consensus rating of Buy and a consensus target price of $62.45.
Norwegian Cruise Line (NASDAQ:NCLH) last issued its quarterly earnings data on Thursday, November 8th. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.21 by $0.06. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the company posted $1.86 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year.
In other Norwegian Cruise Line news, major shareholder Apollo Management Holdings Gp, sold 15,728,782 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $50.50, for a total value of $794,303,491.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Stuart sold 6,500 shares of the stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $48.22, for a total transaction of $313,430.00. Following the completion of the sale, the chief executive officer now directly owns 353,934 shares in the company, valued at $17,066,697.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,738,359 shares of company stock worth $794,771,479. 0.98% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in NCLH. Parallel Advisors LLC increased its position in shares of Norwegian Cruise Line by 273.5% in the 3rd quarter. Parallel Advisors LLC now owns 1,976 shares of the company’s stock valued at $113,000 after purchasing an additional 1,447 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Norwegian Cruise Line in the 3rd quarter valued at approximately $146,000. Cerebellum GP LLC purchased a new stake in shares of Norwegian Cruise Line in the 4th quarter valued at approximately $149,000. HRT Financial LLC purchased a new stake in shares of Norwegian Cruise Line in the 3rd quarter valued at approximately $208,000. Finally, Wetherby Asset Management Inc. purchased a new stake in shares of Norwegian Cruise Line in the 3rd quarter valued at approximately $217,000. 88.85% of the stock is currently owned by institutional investors.
Norwegian Cruise Line Company Profile
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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