Noble Corp plc Price Target Lowered to $33.00 at Cowen and Company (NE)
Research analysts at Cowen and Company cut their target price on shares of Noble Corp plc (NYSE:NE) from $37.00 to $33.00 in a report released on Friday. Cowen and Company’s price target indicates a potential upside of 21.59% from the stock’s previous close.
Shares of Noble Corp plc (NYSE:NE) opened at 27.14 on Friday. Noble Corp plc has a 1-year low of $25.0612 and a 1-year high of $35.542. The stock has a 50-day moving average of $27.96 and a 200-day moving average of $27.47. The company has a market cap of $6.901 billion and a price-to-earnings ratio of 7.38.
Noble Corp plc (NYSE:NE) last released its earnings data on Wednesday, July 30th. The company reported $0.91 earnings per share for the quarter, beating the analysts’ 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. On average, analysts predict that Noble Corp plc will post $3.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 22nd. Stockholders of record on Tuesday, August 12th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 5.53%. The ex-dividend date is Friday, August 8th.
In other Noble Corp plc news, CFO James A. Maclennan bought 6,000 shares of the company’s stock on the open market in a transaction dated Wednesday, August 6th. The shares were purchased at an average price of $26.92 per share, with a total value of $161,520.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Argus cut their price target on shares of Noble Corp plc from $45.00 to $37.00 in a research note on Friday, August 8th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Noble Corp plc in a research note on Monday, August 4th. They now have a $33.00 price target on the stock. Finally, analysts at Deutsche Bank downgraded shares of Noble Corp plc from a “buy” rating to a “hold” rating in a research note on Monday, August 4th. They now have a $28.00 price target on the stock, down previously from $50.00. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. Noble Corp plc presently has a consensus rating of “Hold” and a consensus price target of $35.94.
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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