Norwegian Cruise Line shares close lower as earnings estimates point to declines
The cruise operator finished at $14.87, while consensus projections called for lower quarterly earnings and revenue from a year earlier.
Norwegian Cruise Line Holdings ended the trading session at $14.87, a decline of 1.78% from its previous closing price. The shares had lost 2.76% over the prior month. During that period, the Consumer Discretionary sector fell 6.5%, while the S&P 500 gained 0.55%.
The company was projected to post quarterly earnings of $0.88 per share, representing a 26.67% decrease from the same period a year earlier. The latest consensus estimate placed quarterly revenue at $2.88 billion, down 2.13% year over year.
For the full year, Zacks Consensus Estimates called for earnings of $1.56 per share and revenue of $10.05 billion. Those forecasts represented a 26.07% earnings decline and a 2.25% increase in revenue compared with the prior year.
The report assigned Norwegian Cruise Line a Zacks Rank of No. 5, categorized as Strong Sell. It also listed a forward price-to-earnings ratio of 9.73, compared with an industry average of 15.17, and a price/earnings-to-growth ratio of 0.76.