On July 24, Norwegian Cruise Line rose 5.21% in regular trading, trading at $19.675/share, with turnover of $57.59 million. The rally was driven by a sharp decline in crude oil prices, with WTI crude falling over 2% on the day, directly reducing fuel cost expectations for cruise operators and triggering a sector-wide rally.
Within the Hotels, Resorts & Cruise Lines sector, cruise stocks led the gains with strong linkage effects. Carnival rose 5.94%, Royal Caribbean Cruises gained 4.45%, and Booking Holdings climbed 3.73%. Hilton and Marriott also posted gains of 1.98% and 2.65%, respectively.
Notably, Norwegian Cruise Line is scheduled to report Q2 earnings on July 30 before market open, with consensus revenue estimates of $2.643 billion, representing 3.43% year-over-year growth, while adjusted EPS is expected to decline 24.29% year-over-year. Earlier, Wells Fargo raised its price target on the stock to $25 from $19, maintaining an Overweight rating.
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