Viking (NYSE:VIK) Sets New 1-Year High – Here’s What Happened

Shares of Viking Holdings Ltd. (NYSE:VIK) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $66.84 and last traded at $66.93, with a volume of 492706 shares changing hands. The stock had previously closed at $63.75.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VIK. Weiss Ratings reiterated a “hold (c+)” rating on shares of Viking in a research note on Thursday, November 13th. The Goldman Sachs Group upped their price objective on Viking from $64.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, November 20th. Wells Fargo & Company lifted their target price on Viking from $56.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday. Morgan Stanley boosted their target price on Viking from $62.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Mizuho set a $59.00 price target on Viking in a report on Wednesday, November 19th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Viking presently has an average rating of “Hold” and an average target price of $61.38.

Viking Trading Up 6.9%

The company has a market cap of $30.20 billion, a P/E ratio of 31.68, a PEG ratio of 0.74 and a beta of 2.20. The business has a fifty day moving average price of $60.34 and a 200-day moving average price of $56.51. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 5.68.

Viking (NYSE:VIK) last announced its earnings results on Wednesday, November 19th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.99 billion. Viking had a return on equity of 716.92% and a net margin of 15.53%.The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share. On average, analysts forecast that Viking Holdings Ltd. will post 1.49 earnings per share for the current year.

Institutional Investors Weigh In On Viking

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. boosted its position in shares of Viking by 400.3% in the second quarter. Invesco Ltd. now owns 10,577,113 shares of the company’s stock valued at $563,654,000 after acquiring an additional 8,462,947 shares during the period. Federated Hermes Inc. raised its stake in Viking by 381.8% in the 3rd quarter. Federated Hermes Inc. now owns 8,474,767 shares of the company’s stock worth $526,792,000 after purchasing an additional 6,715,666 shares in the last quarter. Norges Bank bought a new stake in Viking in the 2nd quarter valued at about $236,911,000. Massachusetts Financial Services Co. MA boosted its holdings in Viking by 80.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,117,783 shares of the company’s stock valued at $504,601,000 after purchasing an additional 3,615,969 shares during the period. Finally, Holocene Advisors LP grew its position in shares of Viking by 57.9% during the 2nd quarter. Holocene Advisors LP now owns 5,706,427 shares of the company’s stock worth $304,095,000 after purchasing an additional 2,092,729 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Viking Company Profile

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.