Stock Alert: Norwegian Cruise Line Climbs 12%

(RTTNews) - Shares of Norwegian Cruise Line Holdings Ltd. (NCLH) are gaining more than 12 percent in the morning trade on Friday at $10.83, after rising to a high of $13.60 earlier. The stock has traded in a range of $9.60 to $59.78 in the past 52 weeks.

U.S. stocks are rallying on Friday, a day after the Dow suffered its biggest one-day percentage drop since the stock market crash of 1987.

Cruise line stocks are recovering after suffering sharp losses in recent days amid the coronavirus outbreak. Cruise ship passengers are at increased risk of person-to-person spread of infectious diseases, including COVID-19.

Citing the unusual nature of the novel coronavirus outbreak, the U.S. Centers for Disease Control and Prevention or CDC last week urged travelers to avoid long plane trips and cruise ship travels.

In February, Norwegian Cruise Line had reported fourth-quarter net income of $121.30 million or $0.56 per share, down from $154.63 million or $0.70 per share in the year-ago quarter.

Excluding items, adjusted earnings were $0.73 per share. Analysts polled by Thomson Reuters expected earnings of $0.70 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter rose 7.2 percent to $1.48 billion from $1.38 billion last year.