Norwegian Cruise Line Holdings Ltd. (NCLH) Cut to “Sell” at Zacks Investment Research
Norwegian Cruise Line Holdings Ltd. (NASDAQ:NCLH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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 also recently weighed in on the company. Berenberg Bank reaffirmed a “buy” rating and set a $65.00 price target on shares of Norwegian Cruise Line Holdings in a research note on Wednesday, June 28th. BidaskClub downgraded Norwegian Cruise Line Holdings from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Bank of America Corporation started coverage on Norwegian Cruise Line Holdings in a research note on Monday, July 24th. They set a “buy” rating and a $65.00 price target for the company. Deutsche Bank AG raised their price target on Norwegian Cruise Line Holdings from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $64.00 price target (up from $60.00) on shares of Norwegian Cruise Line Holdings in a research note on Tuesday, August 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $59.40.
Shares of Norwegian Cruise Line Holdings (NASDAQ:NCLH) opened at 59.16 on Wednesday. The stock has a market cap of $13.50 billion, a PE ratio of 19.99 and a beta of 1.12. Norwegian Cruise Line Holdings has a one year low of $35.21 and a one year high of $61.48. The stock’s 50 day moving average price is $56.46 and its 200-day moving average price is $53.86.
Norwegian Cruise Line Holdings (NASDAQ:NCLH) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.05. Norwegian Cruise Line Holdings had a return on equity of 16.65% and a net margin of 13.22%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the business earned $0.85 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts predict that Norwegian Cruise Line Holdings will post $3.98 earnings per share for the current fiscal year.
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In related news, major shareholder Apollo Management Holdings Gp, sold 5,625,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $54.57, for a total value of $306,956,250.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Harry Sommer sold 11,807 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $58.42, for a total value of $689,764.94. Following the completion of the transaction, the executive vice president now directly owns 42,195 shares in the company, valued at $2,465,031.90. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Aviance Capital Management LLC acquired a new stake in Norwegian Cruise Line Holdings in the 2nd quarter valued at approximately $103,000. Toronto Dominion Bank grew its holdings in Norwegian Cruise Line Holdings by 12.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,956 shares of the company’s stock valued at $106,000 after buying an additional 216 shares during the last quarter. BB&T Investment Services Inc. acquired a new stake in Norwegian Cruise Line Holdings in the 2nd quarter valued at approximately $121,000. Quantbot Technologies LP acquired a new stake in Norwegian Cruise Line Holdings in the 1st quarter valued at approximately $116,000. Finally, Pacer Advisors Inc. acquired a new stake in Norwegian Cruise Line Holdings in the 2nd quarter valued at approximately $197,000. 85.80% of the stock is currently owned by institutional investors and hedge funds.
Norwegian Cruise Line Holdings 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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