Norwegian Cruise Line (NASDAQ:NCLH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, January 11th. The firm presently has a $62.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 4.61% from the stock’s current price.
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. “
A number of other equities research analysts have also weighed in on the company. Macquarie lowered Norwegian Cruise Line from a “neutral” rating to an “underperform” rating and set a $47.00 target price for the company. in a research report on Thursday, November 30th. Tigress Financial reiterated a “buy” rating on shares of Norwegian Cruise Line in a report on Monday, November 27th. Argus assumed coverage on Norwegian Cruise Line in a report on Wednesday, October 25th. They issued a “buy” rating and a $68.00 price target on the stock. Barclays lifted their price target on Norwegian Cruise Line from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, November 10th. Finally, Morgan Stanley boosted their target price on Norwegian Cruise Line from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $63.00.
Norwegian Cruise Line (NASDAQ:NCLH) last posted its quarterly earnings data on Thursday, November 9th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.04. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Norwegian Cruise Line had a return on equity of 16.97% and a net margin of 13.91%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the company earned $1.62 EPS. equities research analysts expect that Norwegian Cruise Line will post 3.66 earnings per share for the current fiscal year.
In other news, CEO Jason Montague sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $55.08, for a total value of $826,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Apollo Management Holdings Gp, sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $54.11, for a total value of $270,550,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Aviance Capital Management LLC purchased a new stake in shares of Norwegian Cruise Line in the second quarter valued at approximately $103,000. Toronto Dominion Bank grew its position in Norwegian Cruise Line by 12.4% in the second quarter. Toronto Dominion Bank now owns 1,956 shares of the company’s stock worth $106,000 after acquiring an additional 216 shares during the period. BB&T Investment Services Inc. purchased a new position in Norwegian Cruise Line in the second quarter worth approximately $121,000. Pacer Advisors Inc. purchased a new position in Norwegian Cruise Line in the second quarter worth approximately $197,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Norwegian Cruise Line in the third quarter worth approximately $202,000. Institutional investors and hedge funds own 88.85% of the company’s stock.
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.
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