Noble Corp. (NYSE:NE) had its price objective cut by investment analysts at Jefferies Group from $7.50 to $6.00 in a report released on Wednesday. The brokerage currently has a “hold” rating on the stock. Jefferies Group’s price objective would indicate a potential upside of 9.29% from the company’s current price.
Several other equities research analysts have also recently issued reports on NE. Zacks Investment Research cut shares of Noble Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Vetr raised shares of Noble Corp. from a “hold” rating to a “buy” rating and set a $9.76 target price on the stock in a research report on Monday, June 13th. Argus cut shares of Noble Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. Scotiabank reissued a “sector perform” rating and issued a $6.50 target price on shares of Noble Corp. in a research report on Wednesday, September 14th. Finally, Citigroup Inc. decreased their target price on shares of Noble Corp. from $9.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, August 25th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $8.80.
Noble Corp. (NYSE:NE) traded up 2.5519% during trading on Wednesday, reaching $5.6301. 2,477,085 shares of the company’s stock traded hands. The firm has a 50 day moving average of $5.94 and a 200 day moving average of $8.43. The firm has a market capitalization of $1.37 billion, a PE ratio of 2.3439 and a beta of 2.05. Noble Corp. has a 1-year low of $5.09 and a 1-year high of $14.64.
Noble Corp. (NYSE:NE) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.22. Noble Corp. had a return on equity of 5.22% and a net margin of 18.34%. The firm had revenue of $894.70 million for the quarter, compared to analyst estimates of $527.48 million. During the same period in the prior year, the business earned $0.64 earnings per share. Noble Corp.’s revenue for the quarter was down 37.2% on a year-over-year basis. Equities analysts forecast that Noble Corp. will post ($0.06) EPS for the current year.
A number of large investors have recently bought and sold shares of the company. Capstone Investment Advisors LLC bought a new stake in Noble Corp. during the second quarter valued at $102,000. IFP Advisors Inc increased its stake in Noble Corp. by 5.4% in the first quarter. IFP Advisors Inc now owns 10,692 shares of the company’s stock valued at $111,000 after buying an additional 550 shares during the last quarter. LS Investment Advisors LLC increased its stake in Noble Corp. by 77.4% in the second quarter. LS Investment Advisors LLC now owns 14,861 shares of the company’s stock valued at $122,000 after buying an additional 6,483 shares during the last quarter. James Investment Research Inc. bought a new stake in Noble Corp. during the second quarter valued at $124,000. Finally, World Asset Management Inc increased its stake in Noble Corp. by 3.9% in the second quarter. World Asset Management Inc now owns 16,600 shares of the company’s stock valued at $137,000 after buying an additional 618 shares during the last quarter. 90.26% of the stock is owned by institutional investors and hedge funds.
About Noble Corp.
Noble Corporation is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 79 mobile offshore drilling units and one floating production storage and offloading unit (NYSE:NE) located globally.
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