Noble Corp. (NYSE:NE) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday. They currently have a $6.90 price objective on the stock. Vetr‘s price target indicates a potential upside of 9.52% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Jefferies Group reiterated a “hold” rating on shares of Noble Corp. in a report on Sunday, July 10th. Evercore ISI reiterated a “buy” rating on shares of Noble Corp. in a report on Saturday, July 2nd. Zacks Investment Research cut Noble Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Argus cut Noble Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Finally, Howard Weil assumed coverage on Noble Corp. in a report on Wednesday, September 14th. They set a “sector perform” rating and a $6.50 target price on the stock. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $8.79.
Noble Corp. (NYSE:NE) opened at 6.30 on Wednesday. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 2.62 and a beta of 2.05. The firm’s 50-day moving average price is $5.90 and its 200-day moving average price is $8.40. Noble Corp. has a 1-year low of $5.09 and a 1-year high of $14.64.
Noble Corp. (NYSE:NE) last announced its earnings results on Wednesday, July 27th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.22. The company had revenue of $894.70 million for the quarter, compared to analyst estimates of $527.48 million. Noble Corp. had a net margin of 18.34% and a return on equity of 5.22%. Noble Corp.’s quarterly revenue was down 37.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. On average, equities research analysts anticipate that Noble Corp. will post ($0.06) earnings per share for the current year.
A number of institutional investors have recently modified their holdings of NE. IFP Advisors Inc increased its position in shares of Noble Corp. by 5.4% in the first quarter. IFP Advisors Inc now owns 10,692 shares of the company’s stock worth $111,000 after buying an additional 550 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Noble Corp. during the second quarter worth approximately $102,000. LS Investment Advisors LLC increased its position in shares of Noble Corp. by 77.4% in the second quarter. LS Investment Advisors LLC now owns 14,861 shares of the company’s stock worth $122,000 after buying an additional 6,483 shares during the last quarter. James Investment Research Inc. bought a new position in shares of Noble Corp. during the second quarter worth approximately $124,000. Finally, World Asset Management Inc increased its position in shares of Noble Corp. by 3.9% in the second quarter. World Asset Management Inc now owns 16,600 shares of the company’s stock worth $137,000 after buying an additional 618 shares during the last quarter. Institutional investors own 90.26% of the company’s stock.
Noble Corp. Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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