Bank of America Forecasts Strong Price Appreciation for Norwegian Cruise Line (NYSE:NCLH) Stock

Norwegian Cruise Line (NYSE:NCLH) had its price objective boosted by Bank of America from $26.00 to $29.00 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts also recently issued reports on NCLH. UBS Group raised their price objective on shares of Norwegian Cruise Line from $19.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Truist Financial lifted their price target on shares of Norwegian Cruise Line from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group upped their price objective on Norwegian Cruise Line from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Wells Fargo & Company lifted their target price 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, Deutsche Bank Aktiengesellschaft upped their price target on Norwegian Cruise Line from $21.00 to $24.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.60.

Norwegian Cruise Line Price Performance

NYSE NCLH opened at $26.42 on Wednesday. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 0.28 and a beta of 2.67. Norwegian Cruise Line has a 1-year low of $14.13 and a 1-year high of $28.11. The company has a debt-to-equity ratio of 10.35, a current ratio of 0.20 and a quick ratio of 0.17. The business’s fifty day moving average price is $22.73 and its 200-day moving average price is $19.17.

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

Insiders Place Their Bets

In related news, 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 completion of the transaction, the chief financial officer now directly owns 253,386 shares of the company’s stock, valued at approximately $7,059,333.96. This trade represents a 5.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Faye L. Ashby sold 38,344 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $27.30, for a total transaction of $1,046,791.20. Following the sale, the chief accounting officer now directly owns 116,270 shares in the company, valued at approximately $3,174,171. The trade was a 24.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,344 shares of company stock worth $2,269,731 in the last three months. 0.52% of the stock is owned by company insiders.

Institutional Trading of Norwegian Cruise Line

A number of large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in Norwegian Cruise Line by 120.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,498,217 shares of the company’s stock worth $470,889,000 after acquiring an additional 12,313,426 shares in the last quarter. Baillie Gifford & Co. bought a new stake in shares of Norwegian Cruise Line in the 3rd quarter valued at approximately $179,146,000. Two Sigma Advisers LP boosted its holdings in shares of Norwegian Cruise Line by 864.9% in the 3rd quarter. Two Sigma Advisers LP now owns 3,864,600 shares of the company’s stock worth $79,263,000 after purchasing an additional 3,464,100 shares during the period. Columbus Hill Capital Management L.P. purchased a new position in shares of Norwegian Cruise Line in the 2nd quarter worth approximately $23,479,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Norwegian Cruise Line by 32.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,568,122 shares of the company’s stock valued at $85,835,000 after purchasing an additional 1,129,770 shares during the last quarter. 69.58% of the stock is currently owned by 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.