Jefferies Group Analysts Boost Earnings Estimates for Noble Corporation (NE)

Noble Corporation (NYSE:NE) – Equities research analysts at Jefferies Group lifted their Q2 2017 EPS estimates for Noble Corporation in a research report issued to clients and investors on Thursday. Jefferies Group analyst E. Royes now expects that the oil and gas company will earn ($0.31) per share for the quarter, up from their previous estimate of ($0.35). Jefferies Group currently has a “Buy” rating and a $7.00 target price on the stock. Jefferies Group also issued estimates for Noble Corporation’s Q3 2017 earnings at ($0.39) EPS and FY2020 earnings at ($0.60) EPS.

Several other equities research analysts have also weighed in on NE. Seaport Global Securities upgraded shares of Noble Corporation from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 7th. Scotiabank reiterated a “hold” rating and set a $8.00 price objective on shares of Noble Corporation in a research note on Wednesday, March 22nd. Tudor Pickering started coverage on shares of Noble Corporation in a research note on Thursday, March 23rd. They set a “hold” rating on the stock. Deutsche Bank AG dropped their price objective on shares of Noble Corporation from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday, April 18th. Finally, BMO Capital Markets set a $5.00 price objective on shares of Noble Corporation and gave the stock a “sell” rating in a research note on Tuesday, April 18th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.91.

Earnings History and Estimates for Noble Corporation (NYSE:NE)

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Noble Corporation (NE) opened at 3.78 on Monday. The company’s market cap is $924.91 million. Noble Corporation has a one year low of $3.65 and a one year high of $9.61. The company has a 50-day moving average of $4.30 and a 200-day moving average of $5.91.

Noble Corporation (NYSE:NE) last issued its quarterly earnings data on Thursday, May 4th. The oil and gas company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. The business had revenue of $363 million during the quarter, compared to analyst estimates of $368.25 million. Noble Corporation had a negative net margin of 65.11% and a negative return on equity of 1.69%. The firm’s quarterly revenue was down 40.7% on a year-over-year basis. During the same quarter last year, the business earned $0.31 EPS.

Several hedge funds and other institutional investors have recently bought and sold shares of NE. CAMG Solamere Management LLC bought a new position in Noble Corporation during the fourth quarter worth approximately $102,000. Chicago Equity Partners LLC raised its position in Noble Corporation by 50.7% in the first quarter. Chicago Equity Partners LLC now owns 16,650 shares of the oil and gas company’s stock worth $103,000 after buying an additional 5,600 shares in the last quarter. Seven Eight Capital LP bought a new position in Noble Corporation during the fourth quarter worth approximately $106,000. Teacher Retirement System of Texas raised its position in Noble Corporation by 16.8% in the first quarter. Teacher Retirement System of Texas now owns 19,601 shares of the oil and gas company’s stock worth $121,000 after buying an additional 2,816 shares in the last quarter. Finally, Tiedemann Wealth Management LLC raised its position in Noble Corporation by 41.6% in the first quarter. Tiedemann Wealth Management LLC now owns 20,730 shares of the oil and gas company’s stock worth $128,000 after buying an additional 6,086 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Noble Corporation 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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