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 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. “

Several other equities analysts have also recently weighed in on NCLH. Berenberg Bank reiterated a “buy” rating and set a $65.00 price objective on shares of Norwegian Cruise Line Holdings in a report on Wednesday, June 28th. BidaskClub cut Norwegian Cruise Line Holdings from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Bank of America Corporation initiated coverage on Norwegian Cruise Line Holdings in a report on Monday, July 24th. They set a “buy” rating and a $65.00 price objective on the stock. Nomura lifted their price objective on Norwegian Cruise Line Holdings from $62.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, Buckingham Research lifted their price objective on Norwegian Cruise Line Holdings from $70.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. The company 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. Norwegian Cruise Line Holdings has a 52-week low of $35.21 and a 52-week high of $61.48. The stock has a 50 day moving average of $56.46 and a 200-day moving average of $53.86. The stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of 19.99 and a beta of 1.12.

Norwegian Cruise Line Holdings (NASDAQ:NCLH) last released its quarterly earnings data on Tuesday, August 8th. The company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business posted $0.85 EPS. Norwegian Cruise Line Holdings’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities research analysts predict that Norwegian Cruise Line Holdings will post $3.98 EPS for the current fiscal year.

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In other news, EVP Harry Sommer sold 11,807 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $2,465,031.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Apollo Management Holdings Gp, sold 5,625,000 shares of the company’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 disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Amalgamated Bank raised its stake in shares of Norwegian Cruise Line Holdings by 2.4% during the 1st quarter. Amalgamated Bank now owns 8,718 shares of the company’s stock worth $442,000 after purchasing an additional 202 shares in the last quarter. Swiss National Bank raised its stake in shares of Norwegian Cruise Line Holdings by 2.9% during the 2nd quarter. Swiss National Bank now owns 579,700 shares of the company’s stock worth $31,472,000 after purchasing an additional 16,200 shares in the last quarter. Morgan Stanley raised its stake in shares of Norwegian Cruise Line Holdings by 82.1% during the 1st quarter. Morgan Stanley now owns 251,407 shares of the company’s stock worth $12,753,000 after purchasing an additional 113,323 shares in the last quarter. Impala Asset Management LLC bought a new stake in shares of Norwegian Cruise Line Holdings during the 2nd quarter worth approximately $23,418,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Norwegian Cruise Line Holdings by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 701,327 shares of the company’s stock worth $38,075,000 after purchasing an additional 13,371 shares in the last quarter. Institutional investors own 85.80% of the company’s stock.

About Norwegian Cruise Line Holdings

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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