Norwegian Cruise Line (NYSE:NCLH) Reaches New 12-Month High – Here’s What Happened

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) reached a new 52-week high during trading on Wednesday . The company traded as high as $28.73 and last traded at $28.48, with a volume of 1003643 shares traded. The stock had previously closed at $28.44.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Norwegian Cruise Line from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Bank of America boosted their target price on shares of Norwegian Cruise Line from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Norwegian Cruise Line from $21.00 to $24.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Mizuho lifted their target price on shares of Norwegian Cruise Line from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company lifted their target price on shares of Norwegian Cruise Line from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.27.

Norwegian Cruise Line Price Performance

The company has a quick ratio of 0.17, a current ratio of 0.20 and a debt-to-equity ratio of 10.35. The company has a market capitalization of $12.48 billion, a P/E ratio of 26.02, a P/E/G ratio of 0.24 and a beta of 2.64. The company’s 50-day simple moving average is $26.48 and its 200 day simple moving average is $22.61.

Norwegian Cruise Line (NYSE:NCLH) last posted its earnings results on Thursday, October 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.94 by $0.05. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.77 billion. Norwegian Cruise Line had a net margin of 5.87% and a return on equity of 99.31%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, sell-side analysts expect that Norwegian Cruise Line Holdings Ltd. will post 1.5 earnings per share for the current fiscal year.

Insider Transactions at Norwegian Cruise Line

In related news, 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 completion of the transaction, the chief accounting officer now directly owns 116,270 shares in the company, valued at $3,174,171. This represents a 24.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Kempa sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.86, for a total transaction of $417,900.00. Following the transaction, the chief financial officer now owns 253,386 shares of the company’s stock, valued at approximately $7,059,333.96. The trade was a 5.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,344 shares of company stock worth $2,269,731. 0.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Norwegian Cruise Line

Large investors have recently bought and sold shares of the stock. Zacks Investment Management acquired a new position in Norwegian Cruise Line during the 3rd quarter valued at $3,821,000. Hodges Capital Management Inc. increased its holdings in Norwegian Cruise Line by 1.5% in the 3rd quarter. Hodges Capital Management Inc. now owns 1,544,515 shares of the company’s stock valued at $31,678,000 after buying an additional 23,075 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Norwegian Cruise Line by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,500,309 shares of the company’s stock valued at $71,791,000 after buying an additional 94,178 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Norwegian Cruise Line by 1,104.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 178,603 shares of the company’s stock valued at $3,663,000 after buying an additional 163,777 shares during the period. Finally, nVerses Capital LLC bought a new stake in Norwegian Cruise Line in the 3rd quarter valued at $615,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.