Noble Corp. (NE) Rating Lowered to Hold at Societe Generale
Noble Corp. (NYSE:NE) was downgraded by analysts at Societe Generale to a “hold” rating in a research note issued on Monday.
NE has been the topic of several other research reports. Jefferies Group lowered their target price on shares of Noble Corp. from $7.50 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, September 28th. Credit Suisse Group AG restated a “buy” rating and set a $10.00 price objective on shares of Noble Corp. in a research report on Thursday, September 1st. Citigroup Inc. reduced their price objective on shares of Noble Corp. from $9.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, August 25th. Evercore ISI restated a “buy” rating on shares of Noble Corp. in a research report on Thursday, September 22nd. Finally, Scotiabank restated a “sector perform” rating and set a $6.50 price objective on shares of Noble Corp. in a research report on Wednesday, September 14th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the company’s stock. Noble Corp. presently has an average rating of “Hold” and an average price target of $8.79.
Noble Corp. (NYSE:NE) opened at 6.34 on Monday. The stock has a 50 day moving average of $5.89 and a 200-day moving average of $8.37. Noble Corp. has a 52-week low of $5.09 and a 52-week high of $14.64. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 2.64 and a beta of 2.09.
Noble Corp. (NYSE:NE) last released its earnings results on Wednesday, July 27th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.22. The company had revenue of $894.70 million for the quarter, compared to analyst estimates of $527.48 million. Noble Corp. had a net margin of 18.34% and a return on equity of 5.22%. The firm’s quarterly revenue was down 37.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. On average, analysts expect that Noble Corp. will post ($0.06) EPS for the current year.
A number of large investors have recently bought and sold shares of the company. Capstone Investment Advisors LLC acquired a new stake in Noble Corp. during the second quarter worth $102,000. IFP Advisors Inc increased its stake in shares of 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 shares of 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. purchased a new stake in shares of Noble Corp. during the second quarter valued at approximately $124,000. Finally, World Asset Management Inc increased its stake in shares of 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. Hedge funds and other institutional investors own 90.26% of the company’s stock.
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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