Norwegian Cruise Line Holdings Ltd. (NASDAQ:NCLH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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 issued reports on the company. Berenberg Bank restated a “buy” rating and set a $65.00 price objective on shares of Norwegian Cruise Line Holdings in a research report on Wednesday, June 28th. BidaskClub downgraded Norwegian Cruise Line Holdings from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Bank of America Corporation started coverage on Norwegian Cruise Line Holdings in a research report on Monday, July 24th. They set a “buy” rating and a $65.00 price objective on the stock. Deutsche Bank AG upped their price objective on Norwegian Cruise Line Holdings from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Wednesday, August 9th. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $64.00 price objective (up from $60.00) on shares of Norwegian Cruise Line Holdings in a research report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $60.00.
Norwegian Cruise Line Holdings (NASDAQ:NCLH) last posted its earnings results on Tuesday, August 8th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis.
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In other Norwegian Cruise Line Holdings news, EVP Harry Sommer sold 11,807 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $58.42, for a total transaction of $689,764.94. Following the sale, the executive vice president now owns 42,195 shares of the company’s stock, valued at approximately $2,465,031.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Apollo Management Holdings Gp, sold 5,625,000 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $54.57, for a total value of $306,956,250.00. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Aviance Capital Management LLC purchased a new stake in shares of Norwegian Cruise Line Holdings during the 2nd quarter valued at $103,000. Toronto Dominion Bank lifted its holdings in shares of Norwegian Cruise Line Holdings by 12.4% during the 2nd quarter. Toronto Dominion Bank now owns 1,956 shares of the company’s stock valued at $106,000 after purchasing an additional 216 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Norwegian Cruise Line Holdings during the 1st quarter valued at $116,000. BB&T Investment Services Inc. purchased a new stake in shares of Norwegian Cruise Line Holdings during the 2nd quarter valued at $121,000. Finally, Pacer Advisors Inc. purchased a new stake in shares of Norwegian Cruise Line Holdings during the 2nd quarter valued at $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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