Norwegian Cruise Line estimates decline as shares edge higher
Zacks lowered its earnings estimates and assigned the cruise operator a No. 5 Strong Sell ranking despite a modest monthly share gain.
Norwegian Cruise Line shares returned 2.3% over the previous month, according to Zacks, slightly ahead of the 2.1% change in the Zacks S&P 500 composite over the same period.
For the current quarter, Zacks expected Norwegian Cruise Line to report earnings of $0.89 per share, a 25.8% year-over-year decline. Its consensus estimate for the quarter fell 8.8% during the preceding 30 days.
The consensus estimate for the current fiscal year stood at $1.55 per share, representing a 26.5% year-over-year decrease. That estimate declined 1% over 30 days.
For the next fiscal year, the consensus estimate was $1.64 per share, 5.3% above the amount Norwegian Cruise Line was expected to report a year earlier. The estimate decreased 4.7% over the previous month.
Based on the size of the recent consensus estimate change and three other factors related to earnings estimates, Zacks assigned Norwegian Cruise Line a No. 5 rank, designated Strong Sell.