Norwegian Cruise Line (NYSE:NCLH) Shares Gap Down to $19.91

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $19.91, but opened at $19.50. Norwegian Cruise Line shares last traded at $19.77, with a volume of 1,584,508 shares trading hands.

Analyst Ratings Changes

Several analysts recently issued reports on NCLH shares. Stifel Nicolaus increased their price objective on Norwegian Cruise Line from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Macquarie raised their target price on Norwegian Cruise Line from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Bank of America upped their price objective on shares of Norwegian Cruise Line from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price target on Norwegian Cruise Line from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Barclays raised their price target on Norwegian Cruise Line from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Norwegian Cruise Line currently has an average rating of “Hold” and a consensus target price of $22.43.

Norwegian Cruise Line Stock Up 0.4 %

The company has a debt-to-equity ratio of 17.19, a quick ratio of 0.22 and a current ratio of 0.24. The firm’s 50 day moving average price is $17.93 and its two-hundred day moving average price is $18.04. The company has a market cap of $8.57 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 0.30 and a beta of 2.70.

Norwegian Cruise Line (NYSE:NCLH) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Norwegian Cruise Line had a net margin of 4.62% and a return on equity of 105.44%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the firm earned $0.20 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. Equities research analysts anticipate that Norwegian Cruise Line Holdings Ltd. will post 1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NCLH. Allspring Global Investments Holdings LLC grew its position in Norwegian Cruise Line by 2.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 21,605 shares of the company’s stock worth $452,000 after acquiring an additional 537 shares during the last quarter. Signaturefd LLC raised its stake in shares of Norwegian Cruise Line by 5.6% during the second quarter. Signaturefd LLC now owns 13,365 shares of the company’s stock valued at $251,000 after acquiring an additional 705 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Norwegian Cruise Line by 5.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 13,713 shares of the company’s stock worth $258,000 after purchasing an additional 747 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Norwegian Cruise Line by 20.7% during the first quarter. GAMMA Investing LLC now owns 5,186 shares of the company’s stock worth $109,000 after purchasing an additional 888 shares during the period. Finally, State of Michigan Retirement System grew its stake in shares of Norwegian Cruise Line by 0.8% in the second quarter. State of Michigan Retirement System now owns 117,479 shares of the company’s stock worth $2,207,000 after purchasing an additional 900 shares during the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

About Norwegian Cruise Line

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.