Norwegian Cruise Line (NASDAQ:NCLH) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Norwegian Cruise Line (NASDAQ:NCLH) from a sell rating to a hold rating in a report published on Monday, Zacks.com reports. The brokerage currently has $56.00 price objective on the stock.
According to Zacks, “Norwegian Cruise’s shares have outperformed its industry year to date. The outperformance is likely to continue as the company reported better-than-expected third-quarter 2019 results. Strong onboard spending had a positive impact on the quarterly revenues as well. Moreover, an increase in net yield, driven by the repositioning of Norwegian Joy to North America, boosted revenues. The company is well poised to benefit from fleet expansion, increased booking and capacity as well as higher onboard spend. It is on track with strategic actions to improve profitability and de-risk its business profile by focusing more on fastest-growing markets. However, high costs, intense competition from other cruises and debt levels are concerns. Earnings estimates for current year have been stable in the past 30 days.”
A number of other analysts have also commented on NCLH. Wedbush set a $65.00 price target on shares of Norwegian Cruise Line and gave the company a buy rating in a research note on Thursday, September 12th. Tigress Financial reaffirmed a buy rating on shares of Norwegian Cruise Line in a research note on Tuesday, November 26th. Morgan Stanley set a $59.00 price objective on shares of Norwegian Cruise Line and gave the company a buy rating in a research note on Friday, August 9th. BidaskClub upgraded shares of Norwegian Cruise Line from a hold rating to a buy rating in a report on Monday, November 25th. Finally, Citigroup boosted their target price on shares of Norwegian Cruise Line from $60.00 to $65.00 and gave the stock a buy rating in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $64.81.
Norwegian Cruise Line (NASDAQ:NCLH) last issued its earnings results on Thursday, November 7th. The company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.08. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company earned $2.27 earnings per share. Norwegian Cruise Line’s revenue for the quarter was up 3.0% compared to the same quarter last year.
In other news, CEO Rio Frank J. Del sold 1,544 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $50.05, for a total value of $77,277.20. Following the completion of the sale, the chief executive officer now owns 406,550 shares in the company, valued at approximately $20,347,827.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rio Frank J. Del sold 4,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $53.39, for a total transaction of $213,560.00. Insiders have sold a total of 257,364 shares of company stock worth $13,753,202 over the last ninety days. Insiders own 0.98% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Motco lifted its position in shares of Norwegian Cruise Line by 168.8% during the 3rd quarter. Motco now owns 500 shares of the company’s stock worth $26,000 after buying an additional 314 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Norwegian Cruise Line by 993.7% during the third quarter. Quadrant Capital Group LLC now owns 864 shares of the company’s stock valued at $43,000 after acquiring an additional 785 shares during the last quarter. CSat Investment Advisory L.P. increased its position in shares of Norwegian Cruise Line by 100.0% during the second quarter. CSat Investment Advisory L.P. now owns 876 shares of the company’s stock valued at $47,000 after acquiring an additional 438 shares during the last quarter. NEXT Financial Group Inc lifted its holdings in Norwegian Cruise Line by 53.6% during the second quarter. NEXT Financial Group Inc now owns 2,351 shares of the company’s stock worth $126,000 after acquiring an additional 820 shares during the period. Finally, Phocas Financial Corp. bought a new stake in Norwegian Cruise Line during the second quarter worth $13,509,000. Institutional investors and hedge funds own 88.85% of the company’s stock.
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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