Noble Corp Stock Rating Lowered by UBS AG (NE)
Noble Corp (NYSE:NE) was downgraded by analysts at UBS AG from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports.
Noble Corp (NYSE:NE) traded down 0.44% on Tuesday, hitting $38.64. The stock had a trading volume of 1,196,779 shares. Noble Corp has a 1-year low of $33.02 and a 1-year high of $42.34. The stock has a 50-day moving average of $39.26 and a 200-day moving average of $38.24. The company has a market cap of $9.790 billion and a P/E ratio of 17.47.
Noble Corp (NYSE:NE) last released its earnings data on Wednesday, July 17th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.07. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, analysts predict that Noble Corp will post $2.87 earnings per share for the current fiscal year.
A number of other firms have also recently commented on NE. Analysts at ISI Group downgraded shares of Noble Corp from a “strong-buy” rating to a “buy” rating in a research note to investors on Wednesday, August 14th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Noble Corp in a research note to investors on Friday, July 26th. They now have a $41.00 price target on the stock. Finally, analysts at Clarkson Capital upgraded shares of Noble Corp to an “outperform” rating in a research note to investors on Tuesday, July 23rd.
Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Noble Corp has a consensus rating of “Buy” and an average target price of $46.07.
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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