Wedbush Reiterates Neutral on Norwegian Cruise Line (NCLH) Following 3Q Beat
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Wedbush maintained a Neutral rating on Norwegian Cruise Line Holdings (NASDAQ: NCLH), and cut the price target to $42.00 (from $45.00), following the company's 3Q earnings report. NCLH reported 3Q Adjusted EPS of $1.62. This was $0.03 better than the Street’s $1.59 and at the high-end of management’s guidance of $1.57-$1.62. Fourth quarter EPS was guided to a range of $0.53-$0.57, compared to the Street’s estimate of $0.57.
Analyst James Hardiman commented, "Overall, while NCLH was able to hold the line on 2016 guidance (a positive given investor fears) NCLH shares fell on Wednesday (down 9% vs. the S&P up 1%), which we attribute to the second straight guidance cut for 2017. While NCLH shares are attractive from a valuation standpoint (now trading at just 9x our numbers for next year), until guidance, targets, and estimate begin to be revised in a positive direction (rather than the consistent negative one), these shares are unlikely to work."
Shares of Norwegian Cruise Line Holdings closed at $35.53 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
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