Noble Corp. (NE) Sets New 1-Year Low at $5.09
Noble Corp. (NYSE:NE) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $5.09 and last traded at $5.21, with a volume of 4,385,450 shares changing hands. The stock had previously closed at $5.24.
A number of research analysts recently commented on NE shares. Credit Suisse Group AG reiterated a “buy” rating and issued a $10.00 price objective on shares of Noble Corp. in a report on Thursday, September 1st. Citigroup Inc. cut their target price on Noble Corp. from $9.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, August 25th. Scotiabank reissued a “sector perform” rating and issued a $6.50 target price on shares of Noble Corp. in a research report on Wednesday, September 14th. Vetr lowered Noble Corp. from a “strong-buy” rating to a “buy” rating and set a $7.10 target price on the stock. in a research report on Thursday, September 8th. Finally, Zacks Investment Research lowered Noble Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Eight equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company’s stock. Noble Corp. currently has an average rating of “Hold” and an average target price of $8.88.
The stock has a 50-day moving average of $6.23 and a 200-day moving average of $8.72. The stock has a market capitalization of $1.26 billion, a PE ratio of 2.150 and a beta of 2.05.
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Noble Corp. (NYSE:NE) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.22. Noble Corp. had a return on equity of 5.22% and a net margin of 18.34%. The company had revenue of $894.70 million for the quarter, compared to the consensus estimate of $527.48 million. During the same period in the prior year, the company earned $0.64 EPS. The firm’s revenue was down 37.2% compared to the same quarter last year. Equities analysts predict that Noble Corp. will post ($0.06) EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. James Investment Research Inc. bought a new stake in shares of Noble Corp. during the second quarter worth approximately $124,000. PGGM Investments raised its stake in shares of Noble Corp. by 2.5% in the first quarter. PGGM Investments now owns 166,830 shares of the company’s stock worth $1,727,000 after buying an additional 4,048 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Noble Corp. by 98.5% in the second quarter. Glenmede Trust Co. NA now owns 355,782 shares of the company’s stock worth $2,930,000 after buying an additional 176,570 shares in the last quarter. Pioneer Investment Management Inc. bought a new stake in shares of Noble Corp. during the fourth quarter worth approximately $7,593,000. Finally, Aperio Group LLC raised its stake in shares of Noble Corp. by 19.8% in the first quarter. Aperio Group LLC now owns 235,565 shares of the company’s stock worth $2,438,000 after buying an additional 39,013 shares in the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.
About Noble Corp.
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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