Noble Corp Receives Buy Rating from UBS AG (NE)
Noble Corp (NYSE:NE)‘s stock had its “buy” rating reiterated by investment analysts at UBS AG in a note issued to investors on Friday, AnalystRatings.Net reports. They currently have a $41.00 price target on the stock. UBS AG’s price objective indicates a potential upside of 7.95% from the company’s current price.
A number of other analysts have also recently weighed in on NE. Analysts at Wunderlich cut their price target on shares of Noble Corp from $51.00 to $49.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Stephens upgraded shares of Noble Corp from an “equal weight” rating to an “overweight” rating in a research note to investors on Friday, September 13th. They now have a $49.00 price target on the stock. Finally, analysts at Sanford C. Bernstein downgraded shares of Noble Corp from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, September 13th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Noble Corp presently has an average rating of “Buy” and a consensus price target of $45.71.
Noble Corp (NYSE:NE) traded down 2.08% on Friday, hitting $37.19. The stock had a trading volume of 1,971,400 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 $38.34 and a 200-day moving average of $38.50. The company has a market cap of $9.423 billion and a P/E ratio of 17.09.
Noble Corp (NYSE:NE) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 13.5% on a year-over-year basis. On average, analysts predict that Noble Corp will post $2.91 earnings per share for the current fiscal year.
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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