Norwegian Cruise Line (NYSE:NCLH) Shares Gap Down After Analyst Downgrade

Shares of Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) gapped down before the market opened on Tuesday after Truist Financial lowered their price target on the stock from $35.00 to $27.00. The stock had previously closed at $18.91, but opened at $18.43. Truist Financial currently has a buy rating on the stock. Norwegian Cruise Line shares last traded at $18.39, with a volume of 2,157,721 shares traded.

Other equities research analysts have also issued reports about the stock. Macquarie reduced their price objective on shares of Norwegian Cruise Line from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Loop Capital cut their target price on shares of Norwegian Cruise Line from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Citigroup increased their target price on shares of Norwegian Cruise Line from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. raised shares of Norwegian Cruise Line from a “neutral” rating to an “overweight” rating and set a $30.00 target price on the stock in a research note on Monday, March 17th. Finally, The Goldman Sachs Group cut their target price on shares of Norwegian Cruise Line from $31.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.63.

Institutional Trading of Norwegian Cruise Line

A number of large investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Norwegian Cruise Line by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,536,708 shares of the company’s stock worth $29,136,000 after buying an additional 92,772 shares during the last quarter. Optimize Financial Inc increased its holdings in Norwegian Cruise Line by 13.1% during the first quarter. Optimize Financial Inc now owns 33,890 shares of the company’s stock worth $643,000 after buying an additional 3,937 shares during the last quarter. Woodline Partners LP increased its holdings in Norwegian Cruise Line by 40.7% during the first quarter. Woodline Partners LP now owns 37,149 shares of the company’s stock worth $704,000 after buying an additional 10,743 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in Norwegian Cruise Line during the first quarter worth about $301,000. Finally, Great Lakes Advisors LLC increased its holdings in Norwegian Cruise Line by 149.8% during the first quarter. Great Lakes Advisors LLC now owns 584,938 shares of the company’s stock worth $11,090,000 after buying an additional 350,811 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Norwegian Cruise Line Price Performance

The company has a debt-to-equity ratio of 10.35, a current ratio of 0.20 and a quick ratio of 0.17. The firm has a market cap of $8.12 billion, a PE ratio of 16.68, a P/E/G ratio of 0.24 and a beta of 2.09. The business’s fifty day moving average is $17.92 and its 200-day moving average is $23.12.

Norwegian Cruise Line (NYSE:NCLH) last posted its earnings results on Wednesday, April 30th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Norwegian Cruise Line had a return on equity of 99.31% and a net margin of 5.87%. Norwegian Cruise Line’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 EPS. On average, research analysts predict that Norwegian Cruise Line Holdings Ltd. will post 1.48 earnings per share for the current fiscal year.

Norwegian Cruise Line Company Profile

Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally. The company operates through the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. It offers itineraries ranging from three days to a 180-days calling on various ports, including Scandinavia, Northern Europe, the Mediterranean, the Greek Isles, Alaska, Canada and New England, Hawaii, Asia, Tahiti and the South Pacific, Australia and New Zealand, Africa, India, South America, the Panama Canal, and the Caribbean.