Noble Corp Rating Lowered to Neutral at ISI Group (NE)
Noble Corp (NYSE:NE) was downgraded by analysts at ISI Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.
Shares of Noble Corp (NYSE:NE) traded down 3.67% during mid-day trading on Monday, hitting $35.17. 5,419,111 shares of the company’s stock traded hands. Noble Corp has a one year low of $34.38 and a one year high of $42.34. The stock has a 50-day moving average of $37.13 and a 200-day moving average of $38.30. The company has a market cap of $8.912 billion and a price-to-earnings ratio of 12.71.
Noble Corp (NYSE:NE) last announced its earnings results on Thursday, October 17th. The company reported $0.85 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.71 by $0.14. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 22.2% 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital downgraded shares of Noble Corp from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday, January 8th. They now have a $40.00 price target on the stock, down previously from $41.00. Separately, analysts at Citigroup Inc. downgraded shares of Noble Corp from a “buy” rating to a “neutral” rating in a research note to investors on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.08.
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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