The Wedbush Downgrades Norwegian Cruise Line Holdings Ltd. (NCLH) to Neutral

The Wedbush Downgrades Norwegian Cruise Line Holdings Ltd. (NCLH) to Neutral

Norwegian Cruise Line Holdings Ltd. (NASDAQ:NCLH) was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research note issued on Friday. They currently have a $45.00 price objective on the stock, down from their prior price objective of $53.00. Wedbush’s target price suggests a potential upside of 20.10% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Stifel Nicolaus reduced their price target on shares of Norwegian Cruise Line Holdings from $69.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. Deutsche Bank AG set a $44.00 price target on shares of Norwegian Cruise Line Holdings and gave the stock a “hold” rating in a research report on Thursday, September 29th. Macquarie started coverage on shares of Norwegian Cruise Line Holdings in a research report on Tuesday, October 4th. They set a “neutral” rating and a $38.00 price target on the stock. Sanford C. Bernstein started coverage on shares of Norwegian Cruise Line Holdings in a research report on Thursday, September 8th. They set an “outperform” rating and a $44.00 price target on the stock. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $58.00 price target on shares of Norwegian Cruise Line Holdings in a research report on Tuesday, August 23rd. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $53.50.

Norwegian Cruise Line Holdings (NASDAQ:NCLH) opened at 37.47 on Friday. The firm has a market cap of $8.51 billion, a PE ratio of 16.88 and a beta of 1.18. Norwegian Cruise Line Holdings has a 52-week low of $34.16 and a 52-week high of $64.27. The firm’s 50-day moving average price is $36.72 and its 200 day moving average price is $42.81.

Norwegian Cruise Line Holdings (NASDAQ:NCLH) last announced its earnings results on Tuesday, August 9th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. The company earned $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. Norwegian Cruise Line Holdings had a return on equity of 16.47% and a net margin of 11.09%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. On average, equities analysts anticipate that Norwegian Cruise Line Holdings will post $3.40 earnings per share for the current year.

In related news, EVP T. Robin Lindsay acquired 12,000 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were acquired at an average price of $35.90 per share, for a total transaction of $430,800.00. Following the completion of the purchase, the executive vice president now directly owns 72,647 shares of the company’s stock, valued at $2,608,027.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rio Frank J. Del acquired 55,623 shares of the stock in a transaction that occurred on Wednesday, August 31st. The shares were bought at an average price of $35.96 per share, for a total transaction of $2,000,203.08. Following the purchase, the chief executive officer now directly owns 451,171 shares of the company’s stock, valued at $16,224,109.16. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of NCLH. Franklin Resources Inc. bought a new position in Norwegian Cruise Line Holdings during the first quarter worth approximately $27,048,000. BlackRock Inc. raised its position in Norwegian Cruise Line Holdings by 10.0% in the first quarter. BlackRock Inc. now owns 132,837 shares of the company’s stock worth $7,345,000 after buying an additional 12,077 shares in the last quarter. BlackRock Group LTD raised its position in Norwegian Cruise Line Holdings by 3.5% in the first quarter. BlackRock Group LTD now owns 1,005,821 shares of the company’s stock worth $55,614,000 after buying an additional 34,018 shares in the last quarter. Bessemer Group Inc. raised its position in Norwegian Cruise Line Holdings by 16.9% in the first quarter. Bessemer Group Inc. now owns 7,366 shares of the company’s stock worth $407,000 after buying an additional 1,066 shares in the last quarter. Finally, Aviva PLC raised its position in Norwegian Cruise Line Holdings by 13.5% in the first quarter. Aviva PLC now owns 82,541 shares of the company’s stock worth $4,564,000 after buying an additional 9,787 shares in the last quarter. Institutional investors and hedge funds own 88.29% of the company’s stock.

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