Noble Corp plc Price Target Lowered to $29.00 at Jefferies Group (NE)
Jefferies Group lowered their price target on shares of Noble Corp plc (NYSE:NE) from $31.00 to $29.00 in a research note issued on Friday. The firm currently has a “hold” rating on the stock. Jefferies Group’s price target suggests a potential downside of 6.69% from the company’s current price.
NE has been the subject of a number of other recent research reports. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Noble Corp plc in a research note on Wednesday, July 16th. They now have a $37.00 price target on the stock, up previously from $36.00. Separately, analysts at BMO Capital Markets upgraded shares of Noble Corp plc from an “underperform” rating to a “market perform” rating in a research note on Tuesday, July 15th. They now have a $34.00 price target on the stock, up previously from $27.00. Finally, analysts at TheStreet upgraded shares of Noble Corp plc to a “buy” rating in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. Noble Corp plc has a consensus rating of “Hold” and a consensus target price of $37.67.
Noble Corp plc (NYSE:NE) opened at 31.08 on Friday. Noble Corp plc has a 52-week low of $28.67 and a 52-week high of $40.71. The stock’s 50-day moving average is $32.81 and its 200-day moving average is $31.69. The company has a market cap of $8.011 billion and a price-to-earnings ratio of 8.53.
Noble Corp plc (NYSE:NE) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.66 by $0.25. The company had revenue of $1.20 million for the quarter, compared to the consensus estimate of $1.19 million. Analysts expect that Noble Corp plc will post $3.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Investors of record on Tuesday, August 12th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend is Friday, August 8th.
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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