Wedbush Reiterates Neutral on Norwegian Cruise Line (NCLH) Following 3Q Beat
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Finisar (FNSR) to $43 Following 2Q
- Jefferies Raises Price Target on Casey's General Stores (CASY) Following 2Q Earnings Report
- Argus Downgrades Sonoco Products (SON) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesStandard & Poor's, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!