Other analysts have also recently issued reports about the stock. Jefferies Group reissued a hold rating on shares of Noble Corp. in a research note on Sunday, July 10th. Societe Generale cut shares of Noble Corp. from a buy rating to a hold rating and lowered their price objective for the company from $10.00 to $7.00 in a research note on Monday. Zacks Investment Research cut shares of Noble Corp. from a hold rating to a sell rating in a research note on Monday. Evercore ISI reissued a buy rating on shares of Noble Corp. in a research note on Saturday, July 2nd. Finally, Argus cut shares of Noble Corp. from a hold rating to a sell rating in a research report on Wednesday, August 10th. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $8.65.
Shares of Noble Corp. (NYSE:NE) opened at 6.17 on Monday. The firm has a 50-day moving average price of $5.88 and a 200-day moving average price of $8.29. The firm has a market capitalization of $1.50 billion, a PE ratio of 2.57 and a beta of 2.09. 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 quarterly earnings data 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 net margin of 18.34% and a return on equity of 5.22%. The company had revenue of $894.70 million for the quarter, compared to analysts’ expectations of $527.48 million. During the same period in the prior year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was down 37.2% on a year-over-year basis. On average, analysts forecast that Noble Corp. will post ($0.06) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of NE. Speece Thorson Capital Group Inc. boosted its position in Noble Corp. by 20.3% in the second quarter. Speece Thorson Capital Group Inc. now owns 1,573,228 shares of the company’s stock valued at $12,963,000 after buying an additional 265,625 shares during the period. James Investment Research Inc. acquired a new stake in shares of Noble Corp. during the second quarter worth $124,000. Glenmede Trust Co. NA boosted its stake in shares of Noble Corp. by 98.5% in the second quarter. Glenmede Trust Co. NA now owns 355,782 shares of the company’s stock worth $2,930,000 after buying an additional 176,570 shares during the last quarter. Sippican Capital Advisors boosted its stake in shares of Noble Corp. by 35.1% in the second quarter. Sippican Capital Advisors now owns 162,414 shares of the company’s stock worth $1,338,000 after buying an additional 42,187 shares during the last quarter. Finally, First Quadrant L P CA boosted its stake in shares of Noble Corp. by 4.9% in the second quarter. First Quadrant L P CA now owns 750,498 shares of the company’s stock worth $6,184,000 after buying an additional 35,000 shares during the last quarter. Institutional investors and hedge funds own 90.26% of the company’s stock.
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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