Bank of America Issues Positive Forecast for Norwegian Cruise Line (NYSE:NCLH) Stock Price

Norwegian Cruise Line (NYSE:NCLH) had its price objective hoisted by Bank of America from $26.00 to $29.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. increased their price target on Norwegian Cruise Line from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Argus raised shares of Norwegian Cruise Line from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. The Goldman Sachs Group increased their target price on Norwegian Cruise Line from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Wells Fargo & Company upped their price target on Norwegian Cruise Line from $21.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, Susquehanna increased their price target on shares of Norwegian Cruise Line from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Norwegian Cruise Line has an average rating of “Hold” and a consensus price target of $27.60.

Norwegian Cruise Line Stock Performance

Shares of NYSE NCLH opened at $27.34 on Wednesday. Norwegian Cruise Line has a 1 year low of $14.10 and a 1 year high of $28.11. The company has a debt-to-equity ratio of 10.35, a quick ratio of 0.17 and a current ratio of 0.20. The firm has a market cap of $12.02 billion, a P/E ratio of 25.05, a PEG ratio of 0.29 and a beta of 2.67. The stock has a fifty day moving average price of $22.35 and a two-hundred day moving average price of $19.07.

Norwegian Cruise Line (NYSE:NCLH) last released its earnings results on Thursday, October 31st. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.94 by $0.05. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.77 billion. Norwegian Cruise Line had a net margin of 5.87% and a return on equity of 99.31%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 earnings per share. Research analysts forecast that Norwegian Cruise Line will post 1.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark Kempa sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $27.86, for a total value of $417,900.00. Following the sale, the chief financial officer now directly owns 253,386 shares in the company, valued at approximately $7,059,333.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Andrea Demarco sold 29,000 shares of Norwegian Cruise Line stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $27.76, for a total value of $805,040.00. Following the completion of the transaction, the insider now owns 97,304 shares in the company, valued at approximately $2,701,159.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Kempa sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.86, for a total value of $417,900.00. Following the sale, the chief financial officer now directly owns 253,386 shares of the company’s stock, valued at $7,059,333.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,344 shares of company stock worth $2,269,731 over the last 90 days. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Norwegian Cruise Line

Several large investors have recently made changes to their positions in NCLH. Avior Wealth Management LLC lifted its position in Norwegian Cruise Line by 34.1% during the 3rd quarter. Avior Wealth Management LLC now owns 1,686 shares of the company’s stock worth $35,000 after buying an additional 429 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Norwegian Cruise Line by 2.1% in the third quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock worth $509,000 after acquiring an additional 500 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Norwegian Cruise Line by 1.1% during the third quarter. Thrivent Financial for Lutherans now owns 46,016 shares of the company’s stock worth $944,000 after purchasing an additional 509 shares in the last quarter. Mount Lucas Management LP grew its stake in shares of Norwegian Cruise Line by 2.4% during the third quarter. Mount Lucas Management LP now owns 22,055 shares of the company’s stock valued at $452,000 after purchasing an additional 516 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Norwegian Cruise Line by 1.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 44,757 shares of the company’s stock valued at $918,000 after purchasing an additional 521 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

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.