Wedbush Reiterates Neutral on Norwegian Cruise Line (NCLH) Following 3Q Beat

November 10, 2016 8:25 AM EST
Get Alerts NCLH Hot Sheet
Price: $46.20 +1.16%

Rating Summary:
    11 Buy, 11 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 22 | Down: 32 | New: 34
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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."

For an analyst ratings summary and ratings history on Norwegian Cruise Line Holdings click here. For more ratings news on Norwegian Cruise Line Holdings click here.

Shares of Norwegian Cruise Line Holdings closed at $35.53 yesterday.

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