Noble Corporation (NYSE:NE) – Jefferies Group cut their FY2018 earnings per share estimates for Noble Corporation in a research note issued to investors on Monday. Jefferies Group analyst E. Royes now anticipates that the oil and gas company will post earnings per share of ($1.45) for the year, down from their prior forecast of ($1.35). Jefferies Group has a “Buy” rating and a $5.50 price target on the stock.

Several other research firms have also issued reports on NE. BMO Capital Markets set a $5.00 price target on shares of Noble Corporation and gave the stock a “sell” rating in a research report on Tuesday, April 18th. Deutsche Bank AG dropped their price target on shares of Noble Corporation from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday, April 18th. Seaport Global Securities reissued a “neutral” rating on shares of Noble Corporation in a research report on Monday, August 7th. Barclays PLC dropped their price target on shares of Noble Corporation from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, May 1st. Finally, Piper Jaffray Companies set a $4.00 price target on shares of Noble Corporation and gave the stock a “hold” rating in a research report on Monday, August 7th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Noble Corporation currently has an average rating of “Hold” and an average target price of $6.10.

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Shares of Noble Corporation (NE) traded down 4.9592% during trading on Wednesday, hitting $3.2599. The stock had a trading volume of 4,210,768 shares. The stock’s 50-day moving average price is $3.79 and its 200 day moving average price is $5.04. Noble Corporation has a one year low of $3.22 and a one year high of $8.37. The stock’s market cap is $798.36 million.

Noble Corporation (NYSE:NE) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.02. The company had revenue of $278.10 million during the quarter, compared to the consensus estimate of $284.99 million. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. Noble Corporation’s quarterly revenue was down 68.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share.

A number of institutional investors have recently made changes to their positions in NE. Wright Investors Service Inc. acquired a new position in shares of Noble Corporation during the first quarter worth about $227,000. Oregon Public Employees Retirement Fund boosted its position in shares of Noble Corporation by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 85,384 shares of the oil and gas company’s stock worth $529,000 after buying an additional 1,200 shares during the last quarter. Russell Investments Group Ltd. boosted its position 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 during the last quarter. First Manhattan Co. boosted its position in shares of Noble Corporation by 138.9% in the first quarter. First Manhattan Co. now owns 105,483 shares of the oil and gas company’s stock worth $668,000 after buying an additional 61,325 shares during the last quarter. Finally, Speece Thorson Capital Group Inc. boosted its position in shares of Noble Corporation by 12.9% in the first quarter. Speece Thorson Capital Group Inc. now owns 1,630,845 shares of the oil and gas company’s stock worth $10,095,000 after buying an additional 186,745 shares during the last quarter. 96.83% of the stock is currently owned by hedge funds and other institutional investors.

Noble Corporation 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.

Earnings History and Estimates for Noble Corporation (NYSE:NE)

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