Noble Corporation (NYSE:NE) Receives Consensus Recommendation of “Hold” from Analysts
Noble Corporation (NYSE:NE) has been assigned a consensus rating of “Hold” from the thirty-three ratings firms that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a sell recommendation, seventeen have issued a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $5.96.
Several research firms recently issued reports on NE. Piper Jaffray Companies set a $4.00 price target on Noble Corporation and gave the company a “hold” rating in a report on Monday. Societe Generale cut Noble Corporation from a “buy” rating to a “hold” rating in a report on Monday. ValuEngine cut Noble Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “sell” rating and issued a $5.00 price target on shares of Noble Corporation in a report on Thursday, July 20th. Finally, Jefferies Group LLC restated a “buy” rating and set a $5.50 target price (down previously from $7.00) on shares of Noble Corporation in a report on Tuesday, July 18th.
Noble Corporation (NE) traded down 5.59% during mid-day trading on Tuesday, reaching $3.38. The company’s stock had a trading volume of 4,304,348 shares. Noble Corporation has a 12 month low of $3.32 and a 12 month high of $8.37. The company’s market cap is $827.04 million. The stock’s 50 day moving average is $3.85 and its 200 day moving average is $5.29.
Noble Corporation (NYSE:NE) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.02. The business had revenue of $278.10 million for the quarter, compared to analysts’ expectations of $284.99 million. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. The firm’s quarterly revenue was down 68.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 earnings per share. Equities research analysts predict that Noble Corporation will post ($1.28) EPS for the current year.
A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its stake in shares of Noble Corporation by 323.4% in the first quarter. Russell Investments Group Ltd. now owns 726,384 shares of the oil and gas company’s stock worth $4,498,000 after buying an additional 554,833 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Noble Corporation by 3.2% in the first quarter. BNP Paribas Arbitrage SA now owns 165,062 shares of the oil and gas company’s stock worth $1,022,000 after buying an additional 5,163 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Noble Corporation by 19.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 23,166 shares of the oil and gas company’s stock worth $143,000 after buying an additional 3,803 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Noble Corporation during the first quarter worth about $514,000. Finally, Vanguard Group Inc. raised its stake in shares of Noble Corporation by 0.9% in the first quarter. Vanguard Group Inc. now owns 20,152,512 shares of the oil and gas company’s stock worth $124,744,000 after buying an additional 188,754 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.
About Noble Corporation
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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