Noble Corp. (NE) Upgraded by Vetr Inc. to “Strong-Buy”
Vetr upgraded shares of Noble Corp. (NYSE:NE) from a buy rating to a strong-buy rating in a research report sent to investors on Monday morning. They currently have $6.92 target price on the stock.
A number of other equities analysts have also recently weighed in on the company. Credit Suisse Group AG reaffirmed a buy rating and issued a $10.00 price target on shares of Noble Corp. in a report on Thursday, September 1st. Goldman Sachs Group Inc. raised Noble Corp. from a sell rating to a neutral rating and set a $4.00 price target for the company in a report on Wednesday, September 21st. Jefferies Group reduced their price target on Noble Corp. from $7.50 to $6.00 and set a hold rating for the company in a report on Wednesday, September 28th. Howard Weil initiated coverage on Noble Corp. in a report on Wednesday, September 14th. They issued a sector perform rating and a $6.50 price target for the company. Finally, Zacks Investment Research raised Noble Corp. from a sell rating to a hold rating in a report on Tuesday, July 19th. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Noble Corp. currently has an average rating of Hold and a consensus target price of $8.65.
Noble Corp. (NYSE:NE) opened at 6.17 on Monday. The stock has a 50 day moving average price of $5.88 and a 200-day moving average price of $8.29. The stock has a market cap of $1.50 billion, a PE ratio of 2.57 and a beta of 2.09. Noble Corp. has a one year low of $5.09 and a one year high of $14.64.
Noble Corp. (NYSE:NE) last released its quarterly earnings results 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. The business earned $894.70 million during the quarter, compared to analyst estimates of $527.48 million. Noble Corp. had a return on equity of 5.22% and a net margin of 18.34%. The business’s revenue for the quarter was down 37.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. Equities research analysts expect that Noble Corp. will post ($0.06) earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Capstone Investment Advisors LLC acquired a new stake in Noble Corp. during the second quarter worth $102,000. IFP Advisors Inc boosted 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 worth $111,000 after buying an additional 550 shares in the last quarter. LS Investment Advisors LLC boosted 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 worth $122,000 after buying an additional 6,483 shares in the last quarter. James Investment Research Inc. acquired a new stake in Noble Corp. during the second quarter worth $124,000. Finally, World Asset Management Inc boosted 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 worth $137,000 after buying an additional 618 shares in the last quarter. 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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