Noble Corp (NE) Releases Quarterly Earnings Results
Noble Corp (NYSE:NE) issued its quarterly earnings data on Thursday. The company reported $0.82 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.84 by $0.02, AnalystRatingsNetwork.com reports. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company posted $0.50 earnings per share. Noble Corp’s revenue was up 20.8% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at DNB Markets upgraded shares of Noble Corp from a “sell” rating to a “hold” rating in a research note to investors on Wednesday. On the ratings front, analysts at ISI Group downgraded shares of Noble Corp from a “buy” rating to a “neutral” rating in a research note to investors on Monday, January 13th. Finally, 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. Noble Corp has a consensus rating of “Hold” and a consensus target price of $45.08.
Noble Corp (NYSE:NE) opened at 36.25 on Thursday. Noble Corp has a 52-week low of $34.38 and a 52-week high of $42.34. The stock has a 50-day moving average of $36.66 and a 200-day moving average of $38.20. The company has a market cap of $9.186 billion and a price-to-earnings ratio of 12.35.
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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