Viking (NYSE:VIK) Shares Gap Down – Here’s What Happened

Viking Holdings Ltd (NYSE:VIK) shares gapped down before the market opened on Wednesday . The stock had previously closed at $44.92, but opened at $43.50. Viking shares last traded at $44.28, with a volume of 4,735,832 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VIK. Redburn Atlantic upgraded shares of Viking to a “hold” rating in a report on Tuesday, April 1st. Melius Research set a $51.00 price objective on shares of Viking in a research report on Monday, April 21st. BNP Paribas started coverage on shares of Viking in a research report on Thursday, March 27th. They set an “outperform” rating and a $47.00 price objective for the company. Citigroup reaffirmed a “buy” rating and set a $52.00 price objective (up previously from $48.00) on shares of Viking in a research report on Wednesday, May 21st. Finally, The Goldman Sachs Group reduced their price target on shares of Viking from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Viking has an average rating of “Moderate Buy” and a consensus target price of $47.53.

Viking Trading Down 1.3%

The stock has a market cap of $19.13 billion and a P/E ratio of 36.08. The company has a 50-day moving average price of $41.39 and a two-hundred day moving average price of $44.57.

Viking (NYSE:VIK) last released its quarterly earnings results on Tuesday, May 20th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.02. The business had revenue of $897.06 million during the quarter, compared to analysts’ expectations of $841.18 million. During the same quarter last year, the business posted ($1.21) earnings per share. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. As a group, equities analysts forecast that Viking Holdings Ltd will post 1.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viking

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Costello Asset Management INC purchased a new position in Viking in the first quarter worth $33,000. Avior Wealth Management LLC lifted its position in Viking by 37.1% during the 4th quarter. Avior Wealth Management LLC now owns 1,053 shares of the company’s stock worth $46,000 after acquiring an additional 285 shares in the last quarter. Harbour Investments Inc. lifted its position in Viking by 37.2% during the 1st quarter. Harbour Investments Inc. now owns 1,277 shares of the company’s stock worth $51,000 after acquiring an additional 346 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Viking by 92.0% in the first quarter. NewEdge Advisors LLC now owns 1,440 shares of the company’s stock worth $57,000 after buying an additional 690 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Viking in the fourth quarter worth $66,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Viking Company Profile

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships.