Norwegian Cruise Line shares slide as annual earnings estimates ease
The cruise operator’s stock fell 16.2% over the past month, while Zacks assigned it a Sell rating.
Norwegian Cruise Line shares declined 16.2% during the past month, underperforming a 2.9% drop in the Zacks S&P 500 composite. The Zacks Leisure and Recreation Services industry, which includes the cruise company, fell 12.7% over the same period.
For the current quarter, Norwegian was expected to earn $0.89 per share, representing a 25.8% decrease from a year earlier. The Zacks Consensus Estimate for the quarter nevertheless increased 0.6% over the preceding 30 days.
The consensus forecast for the current fiscal year stood at $1.57 per share, down 25.6% from the prior year. That estimate declined 2.5% during the previous 30 days. For the next fiscal year, analysts projected earnings of $1.72 per share, 9.6% above the amount expected for the preceding year, although the estimate fell 2.3% over the past month.
Zacks rated Norwegian Cruise Line at Rank No. 4, or Sell, citing the scale of the recent consensus-estimate change along with three other earnings-estimate factors.