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Equities researchers at Nordea Equity Research reduced their price target on shares of Noble Corp (NYSE:NE) from $39.00 to $33.00 in a research report issued on Thursday, reports. The firm currently has a “sell” rating on the stock. Nordea Equity Research’s target price points to a potential downside of 8.97% from the company’s current price.

Shares of Noble Corp (NYSE:NE) opened at 33.87 on Thursday. 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 $36.66 and a 200-day moving average of $38.20. The company has a market cap of $8.583 billion and a price-to-earnings ratio of 12.62.

Noble Corp (NYSE:NE) last announced its earnings results on Thursday, January 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by $0.02. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. Analysts expect that Noble Corp will post $2.90 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on NE. 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. Separately, 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. Noble Corp currently has an average rating of “Hold” and an average target price of $44.21.

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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