Noble Corp. (NE) Upgraded by Goldman Sachs Group Inc. to Neutral
Noble Corp. (NYSE:NE) was upgraded by Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a report released on Wednesday.
A number of other research firms also recently issued reports on NE. Credit Suisse Group AG restated a “buy” rating and issued a $10.00 price target on shares of Noble Corp. in a research note on Thursday, September 1st. Zacks Investment Research downgraded Noble Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Scotiabank restated a “sector perform” rating and issued a $6.50 price target on shares of Noble Corp. in a research note on Wednesday, September 14th. Vetr upgraded Noble Corp. from a “hold” rating to a “buy” rating and set a $9.76 price target on the stock in a research note on Monday, June 13th. Finally, Citigroup Inc. dropped their price target on Noble Corp. from $9.00 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, August 25th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $8.88.
Noble Corp. (NYSE:NE) opened at 5.12 on Wednesday. The stock has a market capitalization of $1.25 billion, a PE ratio of 2.13 and a beta of 2.05. The company’s 50-day moving average price is $6.18 and its 200 day moving average price is $8.66. Noble Corp. has a 52-week low of $5.09 and a 52-week high of $14.64.
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Noble Corp. (NYSE:NE) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.22. The firm earned $894.70 million during the quarter, compared to analysts’ expectations of $527.48 million. Noble Corp. had a return on equity of 5.22% and a net margin of 18.34%. The business’s quarterly revenue was down 37.2% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. Equities analysts forecast that Noble Corp. will post ($0.07) EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of NE. Capstone Investment Advisors LLC bought a new stake in Noble Corp. during the second quarter valued at $102,000. IFP Advisors Inc increased its stake in Noble Corp. by 5.4% in the first quarter. IFP Advisors Inc now owns 10,692 shares of the company’s stock valued at $111,000 after buying an additional 550 shares in the last quarter. LS Investment Advisors LLC increased its stake in Noble Corp. by 77.4% in the second quarter. LS Investment Advisors LLC now owns 14,861 shares of the company’s stock valued at $122,000 after buying an additional 6,483 shares in the last quarter. James Investment Research Inc. bought a new stake in Noble Corp. during the second quarter valued at $124,000. Finally, World Asset Management Inc increased its stake in Noble Corp. by 3.9% in the second quarter. World Asset Management Inc now owns 16,600 shares of the company’s stock valued at $137,000 after buying an additional 618 shares in the last quarter. 90.26% of the stock is owned by hedge funds and other institutional investors.
Noble Corp. Company Profile
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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