Norwegian Cruise Line (NYSE:NCLH) Shares Gap Up - Here's What Happened

Key Points

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Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $23.40, but opened at $26.12. Norwegian Cruise Line shares last traded at $26.16, with a volume of 15,414,016 shares.

Analyst Upgrades and Downgrades

NCLH has been the subject of several analyst reports. Morgan Stanley cut their price target on shares of Norwegian Cruise Line from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Loop Capital lowered their price objective on Norwegian Cruise Line from $25.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Truist Financial reduced their target price on Norwegian Cruise Line from $35.00 to $27.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Barclays upped their target price on Norwegian Cruise Line from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Finally, Macquarie dropped their price target on Norwegian Cruise Line from $31.00 to $27.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $25.75.

Norwegian Cruise Line Stock Performance

The company has a market cap of $11.39 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 0.98 and a beta of 2.13. The business has a 50 day moving average price of $20.47 and a two-hundred day moving average price of $20.98. The company has a debt-to-equity ratio of 9.09, a quick ratio of 0.16 and a current ratio of 0.19.

Norwegian Cruise Line (NYSE:NCLH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). Norwegian Cruise Line had a net margin of 9.05% and a return on equity of 66.78%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the firm posted $0.16 EPS. The business's revenue for the quarter was down 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Norwegian Cruise Line Holdings Ltd. will post 1.48 earnings per share for the current year.

Institutional Investors Weigh In On Norwegian Cruise Line

Several institutional investors have recently added to or reduced their stakes in NCLH. Capital International Investors increased its position in shares of Norwegian Cruise Line by 11.2% in the fourth quarter. Capital International Investors now owns 55,194,672 shares of the company's stock valued at $1,420,159,000 after acquiring an additional 5,557,951 shares during the period. Ariel Investments LLC grew its stake in shares of Norwegian Cruise Line by 126.8% in the first quarter. Ariel Investments LLC now owns 9,081,170 shares of the company's stock worth $172,179,000 after purchasing an additional 5,077,531 shares during the last quarter. Norges Bank bought a new position in Norwegian Cruise Line during the 4th quarter valued at approximately $113,156,000. Two Sigma Advisers LP grew its position in shares of Norwegian Cruise Line by 99.0% in the 4th quarter. Two Sigma Advisers LP now owns 7,689,200 shares of the company's stock worth $197,843,000 after buying an additional 3,824,600 shares during the last quarter. Finally, 59 North Capital Management LP purchased a new position in shares of Norwegian Cruise Line during the first quarter valued at approximately $69,877,000. Hedge funds and other 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.

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