Macquarie Raises Norwegian Cruise Line (NYSE:NCLH) Price Target to $24.00

Norwegian Cruise Line (NYSE:NCLH) had its price objective lifted by Macquarie from $23.00 to $24.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently commented on NCLH. StockNews.com raised shares of Norwegian Cruise Line from a sell rating to a hold rating in a research note on Wednesday, May 8th. Mizuho raised Norwegian Cruise Line from a neutral rating to a buy rating and upped their target price for the company from $21.00 to $24.00 in a research report on Tuesday, May 28th. Wells Fargo & Company upped their target price on Norwegian Cruise Line from $19.00 to $20.00 and gave the company an equal weight rating in a research report on Tuesday, May 21st. Truist Financial raised Norwegian Cruise Line from a hold rating to a buy rating and upped their target price for the company from $20.00 to $21.00 in a research report on Wednesday, May 29th. Finally, Susquehanna cut their target price on Norwegian Cruise Line from $21.00 to $18.00 and set a neutral rating on the stock in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $22.18.

Norwegian Cruise Line Stock Down 8.2 %

Shares of NYSE:NCLH opened at $15.93 on Thursday. Norwegian Cruise Line has a 1 year low of $12.70 and a 1 year high of $21.73. The business has a 50 day simple moving average of $18.04 and a two-hundred day simple moving average of $18.02. The firm has a market capitalization of $6.83 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 0.29 and a beta of 2.69. The company has a debt-to-equity ratio of 17.19, a current ratio of 0.24 and a quick ratio of 0.22.

Norwegian Cruise Line (NYSE:NCLH) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. On average, equities analysts predict that Norwegian Cruise Line will post 1.17 EPS for the current year.

Insider Activity

In related news, Director Zillah Byng-Thorne purchased 13,360 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average cost of $16.50 per share, with a total value of $220,440.00. Following the purchase, the director now owns 13,360 shares of the company’s stock, valued at approximately $220,440. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Transcendent Capital Group LLC purchased a new position in Norwegian Cruise Line in the 1st quarter worth approximately $27,000. YHB Investment Advisors Inc. purchased a new position in Norwegian Cruise Line in the 1st quarter worth approximately $39,000. 1832 Asset Management L.P. purchased a new position in Norwegian Cruise Line in the 4th quarter worth approximately $44,000. Fidelis Capital Partners LLC purchased a new position in Norwegian Cruise Line in the 1st quarter worth approximately $61,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Norwegian Cruise Line in the 1st quarter worth approximately $80,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

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.