Scotiabank Reaffirms “Sector Perform” Rating for Noble Corp. (NE)
A number of other research firms have also commented on NE. Credit Suisse Group AG reaffirmed a buy rating and set a $10.00 price objective on shares of Noble Corp. in a research note on Thursday, September 1st. Zacks Investment Research lowered 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 price objective for the company in a research note on Monday, June 13th. Argus lowered shares of Noble Corp. from a buy rating to a hold rating and reduced their price objective for the company from $9.71 to $8.53 in a research note on Friday, May 20th. Finally, Citigroup Inc. reduced their price objective on shares of Noble Corp. from $9.00 to $6.50 and set a neutral rating for the company in a research note on Thursday, August 25th. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $8.88.
Shares of Noble Corp. (NYSE:NE) opened at 5.46 on Wednesday. The firm’s 50-day moving average is $6.46 and its 200 day moving average is $8.83. The stock has a market capitalization of $1.33 billion, a P/E ratio of 2.27 and a beta of 2.05. Noble Corp. has a 1-year low of $5.27 and a 1-year high of $14.64.
Noble Corp. (NYSE:NE) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.01 earnings per share 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 business had revenue of $894.70 million for the quarter, compared to the consensus estimate of $527.48 million. During the same quarter last year, the business posted $0.64 EPS. The business’s revenue for the quarter was down 37.2% on a year-over-year basis. On average, analysts expect that Noble Corp. will post ($0.06) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mason Street Advisors LLC bought a new position in shares of Noble Corp. during the second quarter worth about $914,000. Schwab Charles Investment Management Inc. boosted its position in shares of Noble Corp. by 63.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,685,702 shares of the company’s stock worth $13,891,000 after buying an additional 654,331 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Noble Corp. by 29.5% in the second quarter. Stifel Financial Corp now owns 26,342 shares of the company’s stock worth $218,000 after buying an additional 6,001 shares during the last quarter. Amalgamated Bank boosted its position in shares of Noble Corp. by 12.3% in the second quarter. Amalgamated Bank now owns 32,888 shares of the company’s stock worth $226,000 after buying an additional 3,614 shares during the last quarter. Finally, Numeric Investors LLC boosted its position in shares of Noble Corp. by 59.9% in the second quarter. Numeric Investors LLC now owns 1,587,800 shares of the company’s stock worth $13,083,000 after buying an additional 594,600 shares during the last quarter. 91.29% of the stock is owned by institutional investors.
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.
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