Zacks Investment Research Downgrades Norwegian Cruise Line (NCLH) to Hold

Norwegian Cruise Line (NASDAQ:NCLH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Norwegian Cruise Line is a cruise line operator. It offers cruise itineraries in various locations, including destinations in the Caribbean, Bermuda, the Bahamas, Mexico, Alaska, Europe, Hawaii, New England, Central America, North Africa, and Scandinavia. The company markets its services primarily through retail/travel agents. Norwegian Cruise Line is headquartered in Miami, Florida. “

NCLH has been the subject of a number of other research reports. Barclays boosted their price objective on shares of Norwegian Cruise Line from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, November 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $69.00 price target on shares of Norwegian Cruise Line in a report on Thursday, October 12th. Argus started coverage on shares of Norwegian Cruise Line in a report on Wednesday, October 25th. They issued a “buy” rating and a $68.00 price target for the company. Macquarie cut shares of Norwegian Cruise Line from a “neutral” rating to an “underperform” rating and set a $47.00 price target for the company. in a report on Thursday, November 30th. Finally, Morgan Stanley upped their price target on shares of Norwegian Cruise Line from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. Norwegian Cruise Line currently has an average rating of “Hold” and an average price target of $63.00.

Shares of Norwegian Cruise Line (NASDAQ:NCLH) traded up $1.69 during midday trading on Friday, reaching $57.85. 2,057,632 shares of the company were exchanged, compared to its average volume of 1,730,000. The firm has a market capitalization of $13,220.00, a PE ratio of 18.08, a P/E/G ratio of 0.56 and a beta of 1.09. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.31 and a current ratio of 0.34. Norwegian Cruise Line has a 52-week low of $44.20 and a 52-week high of $61.48.

Norwegian Cruise Line (NASDAQ:NCLH) last issued its quarterly earnings data on Thursday, November 9th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.04. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Norwegian Cruise Line had a net margin of 13.91% and a return on equity of 16.97%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.62 earnings per share. analysts forecast that Norwegian Cruise Line will post 3.66 EPS for the current year.

In other news, CEO Jason Montague sold 15,000 shares of the business’s stock in a transaction on 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 document filed with the SEC, which is accessible through this link. Also, major shareholder Apollo Management Holdings Gp, sold 5,000,000 shares of the business’s stock in a transaction on 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. Insiders own 0.98% of the company’s stock.

Several hedge funds have recently made changes to their positions in NCLH. Schwab Charles Investment Management Inc. lifted its position in shares of Norwegian Cruise Line by 14.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 414,710 shares of the company’s stock worth $22,515,000 after purchasing an additional 53,621 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Norwegian Cruise Line by 21.2% in the second quarter. Victory Capital Management Inc. now owns 17,933 shares of the company’s stock worth $974,000 after purchasing an additional 3,138 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Norwegian Cruise Line in the second quarter worth $197,000. Principal Financial Group Inc. lifted its position in shares of Norwegian Cruise Line by 26.6% in the second quarter. Principal Financial Group Inc. now owns 30,182 shares of the company’s stock worth $1,639,000 after purchasing an additional 6,337 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Norwegian Cruise Line in the second quarter worth $454,000. 88.85% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Norwegian Cruise Line (NASDAQ:NCLH)

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