Equities Analysts Set Expectations for NCLH FY2026 Earnings

Key Points

• Zacks Research cut Norwegian Cruise Line’s FY2026 EPS estimate to $1.30 from $1.51, below the broader consensus estimate of $1.44. Zacks maintained a “Hold” rating.
• Norwegian reported quarterly EPS of $0.48, beating the $0.41 consensus, while revenue reached $2.64 billion, up 4.9% year over year. Despite the earnings beat, analysts remain cautious, with a consensus “Hold” rating and $21.05 price target.
• The company’s high leverage remains a concern, with a debt-to-equity ratio of 5.40 and weak liquidity ratios. Meanwhile, institutional investors own 69.58% of the stock, and company insiders purchased approximately $27.5 million in shares during the latest quarter.

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH - Free Report) - Equities research analysts at Zacks Research decreased their FY2026 EPS estimates for shares of Norwegian Cruise Line in a research note issued on Thursday, August 13th. Zacks Research analyst Team now forecasts that the company will post earnings per share of $1.30 for the year, down from their prior forecast of $1.51. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Norwegian Cruise Line's current full-year earnings is $1.44 per share. Zacks Research also issued estimates for Norwegian Cruise Line's Q4 2026 earnings at ($0.15) EPS, Q1 2027 earnings at ($0.02) EPS, Q2 2027 earnings at $0.37 EPS, Q3 2027 earnings at $0.93 EPS, Q4 2027 earnings at $0.03 EPS, FY2027 earnings at $1.31 EPS, Q1 2028 earnings at $0.06 EPS and FY2028 earnings at $1.74 EPS.

Norwegian Cruise Line (NYSE:NCLH - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.65 billion. Norwegian Cruise Line had a net margin of 7.49% and a return on equity of 41.38%. Norwegian Cruise Line's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. Norwegian Cruise Line has set its Q3 2026 guidance at 0.900-0.900 EPS and its FY 2026 guidance at 1.500-1.500 EPS.

A number of other analysts also recently commented on the stock. Sanford C. Bernstein initiated coverage on shares of Norwegian Cruise Line in a research report on Wednesday, June 3rd. They set a "market perform" rating and a $18.00 price target on the stock. Mizuho reaffirmed a "neutral" rating and set a $17.00 price target (down from $22.00) on shares of Norwegian Cruise Line in a research note on Tuesday. Morgan Stanley boosted their price objective on Norwegian Cruise Line from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 9th. Susquehanna reaffirmed a "neutral" rating and set a $17.00 target price on shares of Norwegian Cruise Line in a report on Tuesday, August 4th. Finally, Truist Financial downgraded shares of Norwegian Cruise Line from a "buy" rating to a "hold" rating and set a $20.00 price target for the company. in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $21.05.

Norwegian Cruise Line Stock Down 3.1%

NCLH opened at $17.62 on Wednesday. Norwegian Cruise Line has a 12 month low of $14.53 and a 12 month high of $27.18. The stock has a market cap of $8.09 billion, a P/E ratio of 11.02, a P/E/G ratio of 1.19 and a beta of 1.90. The stock's 50 day moving average price is $19.67 and its 200 day moving average price is $19.76. The company has a debt-to-equity ratio of 5.40, a current ratio of 0.20 and a quick ratio of 0.17.

Institutional Investors Weigh In On Norwegian Cruise Line

Several hedge funds have recently made changes to their positions in NCLH. Elliott Investment Management L.P. acquired a new stake in shares of Norwegian Cruise Line in the first quarter worth $246,578,000. AQR Capital Management LLC raised its position in Norwegian Cruise Line by 1,505.9% during the fourth quarter. AQR Capital Management LLC now owns 6,793,256 shares of the company's stock valued at $151,625,000 after buying an additional 6,370,241 shares during the period. Capital International Investors lifted its stake in Norwegian Cruise Line by 7.1% in the 4th quarter. Capital International Investors now owns 56,177,669 shares of the company's stock worth $1,253,886,000 after acquiring an additional 3,728,929 shares in the last quarter. California Public Employees Retirement System lifted its stake in Norwegian Cruise Line by 358.8% in the 1st quarter. California Public Employees Retirement System now owns 3,675,830 shares of the company's stock worth $68,738,000 after acquiring an additional 2,874,730 shares in the last quarter. Finally, Freestone Grove Partners LP boosted its position in Norwegian Cruise Line by 338.8% during the 3rd quarter. Freestone Grove Partners LP now owns 3,690,333 shares of the company's stock worth $90,893,000 after acquiring an additional 2,849,349 shares during the period. Hedge funds and other institutional investors own 69.58% of the company's stock.

Insiders Place Their Bets

In related news, CEO John Chidsey purchased 153,000 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average price of $16.37 per share, with a total value of $2,504,610.00. Following the purchase, the chief executive officer owned 1,139,940 shares of the company's stock, valued at $18,660,817.80. This trade represents a 15.50% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen G. Pagliuca acquired 695,000 shares of the business's stock in a transaction on Monday, June 1st. The shares were bought at an average price of $18.16 per share, for a total transaction of $12,621,200.00. Following the acquisition, the director owned 703,912 shares in the company, valued at approximately $12,783,041.92. This trade represents a 7,798.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 1,533,000 shares of company stock valued at $27,496,910 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Norwegian Cruise Line

Here are the key news stories impacting Norwegian Cruise Line this week:

• Positive Sentiment: Zacks Research raised its Q2 2028 EPS estimate to $0.50 from $0.42, suggesting some longer-term earnings potential remains. However, Zacks continues to rate NCLH “Hold.”
• Neutral Sentiment: Analyst consensus remains “Hold,” with a current-year EPS estimate of $1.44. Norwegian Cruise Line recently reported quarterly EPS of $0.48, above the $0.41 consensus, while revenue increased 4.9% year over year to $2.64 billion.
• Negative Sentiment: Mizuho downgraded Norwegian Cruise Line from Outperform to Neutral, citing rising leverage and the risk of a funding shortfall over the next 18 months. The firm also cut its price target to $17 from $22. Norwegian Cruise Line rating cut at Mizuho after self-inflicted wounds
• Negative Sentiment: Zacks Research broadly reduced its earnings outlook: FY2026 EPS fell to $1.30 from $1.51, FY2027 to $1.31 from $1.65, and FY2028 to $1.74 from $1.99. Quarterly estimates were also cut for Q4 2026, Q1-Q3 2027, Q4 2027 and Q1 2028, including a reduction in Q4 2026 expectations from positive $0.03 EPS to a loss of $0.15.
• Negative Sentiment: The revisions imply weaker near- and medium-term profitability than previously expected. Given NCLH’s high debt-to-equity ratio of 5.40 and low current and quick ratios, investors may be particularly sensitive to cash-flow, refinancing and demand risks.

About Norwegian Cruise Line

Norwegian Cruise Line Holdings Ltd. NYSE: NCLH is a global cruise operator offering a portfolio of premium brands that includes Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. The company provides sea voyages and related onboard services such as dining, entertainment, shore excursions and destination experiences. Its fleet of modern vessels sails to more than 400 destinations across all seven continents, serving leisure travelers with itineraries ranging from short Caribbean getaways to extended world voyages.

Founded in 1966 by Knut Kloster and Ted Arison, the company pioneered the concept of “Freestyle Cruising,” which allows passengers greater flexibility in dining schedules, entertainment choices and onboard activities.

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