Noble Corp. (NE) Stock Rating Upgraded by Goldman Sachs Group Inc.
Noble Corp. (NYSE:NE) was upgraded by research analysts at Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday.
A number of other research analysts have also weighed in on NE. Credit Suisse Group AG reissued a “buy” rating and set a $10.00 price target on shares of Noble Corp. in a research report on Thursday, September 1st. Vetr raised shares of Noble Corp. from a “hold” rating to a “buy” rating and set a $9.76 price target on the stock in a research report on Monday, June 13th. Evercore ISI reissued a “buy” rating on shares of Noble Corp. in a research report on Saturday, July 2nd. Jefferies Group dropped their price target on shares of Noble Corp. from $8.00 to $7.50 and set a “hold” rating on the stock in a research report on Friday, July 29th. Finally, Zacks Investment Research raised shares of Noble Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $8.88.
Shares of Noble Corp. (NYSE:NE) traded up 5.47% during midday trading on Wednesday, reaching $5.40. 15,103,366 shares of the company’s stock traded hands. The stock has a market cap of $1.31 billion, a P/E ratio of 2.25 and a beta of 2.05. Noble Corp. has a 12 month low of $5.09 and a 12 month high of $14.64. The stock has a 50 day moving average of $6.13 and a 200-day moving average of $8.64.
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Noble Corp. (NYSE:NE) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.22. Noble Corp. had a net margin of 18.34% and a return on equity of 5.22%. The business earned $894.70 million during the quarter, compared to the consensus estimate of $527.48 million. During the same period last year, the business posted $0.64 earnings per share. The firm’s quarterly revenue was down 37.2% on a year-over-year basis. On average, equities research analysts forecast that Noble Corp. will post ($0.07) EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in NE. Mason Street Advisors LLC bought a new stake in shares of Noble Corp. during the second quarter valued at about $914,000. Schwab Charles Investment Management Inc. raised its stake in shares of Noble Corp. by 63.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,685,702 shares of the company’s stock valued at $13,891,000 after buying an additional 654,331 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Noble Corp. by 29.5% in the second quarter. Stifel Financial Corp now owns 26,342 shares of the company’s stock valued at $218,000 after buying an additional 6,001 shares during the last quarter. Amalgamated Bank raised its stake in shares of Noble Corp. by 12.3% in the second quarter. Amalgamated Bank now owns 32,888 shares of the company’s stock valued at $226,000 after buying an additional 3,614 shares during the last quarter. Finally, Numeric Investors LLC raised its stake in shares of Noble Corp. by 59.9% in the second quarter. Numeric Investors LLC now owns 1,587,800 shares of the company’s stock valued at $13,083,000 after buying an additional 594,600 shares during the last quarter. Institutional investors and hedge funds own 90.26% of the company’s stock.
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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