Noble Corp. (NE) Receives Average Rating of “Hold” from Analysts
Shares of Noble Corp. (NYSE:NE) have been given a consensus rating of “Hold” by the thirty-one analysts that are covering the stock. Eight investment analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.20.
A number of equities analysts recently commented on NE shares. Argus downgraded Noble Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Bank of America Corp. upgraded Noble Corp. from an “underperform” rating to a “neutral” rating and set a $7.50 price target on the stock in a report on Tuesday, August 16th. Nomura set a $6.00 price target on Noble Corp. and gave the company a “sell” rating in a report on Tuesday, August 16th. Citigroup Inc. lowered their price target on Noble Corp. from $9.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, August 25th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $10.00 price target on shares of Noble Corp. in a report on Thursday, September 1st.
A number of institutional investors have recently modified their holdings of NE. Hedeker Wealth LLC bought a new position in shares of Noble Corp. during the third quarter worth about $255,000. IBM Retirement Fund boosted its position in shares of Noble Corp. by 0.3% in the second quarter. IBM Retirement Fund now owns 24,435 shares of the company’s stock worth $201,000 after buying an additional 82 shares during the period. Shoker Investment Counsel Inc. boosted its position in shares of Noble Corp. by 0.5% in the second quarter. Shoker Investment Counsel Inc. now owns 32,751 shares of the company’s stock worth $269,000 after buying an additional 148 shares during the period. Oakbrook Investments LLC boosted its position in shares of Noble Corp. by 0.9% in the third quarter. Oakbrook Investments LLC now owns 22,300 shares of the company’s stock worth $141,000 after buying an additional 200 shares during the period. Finally, State Treasurer State of Michigan boosted its position in shares of Noble Corp. by 0.3% in the third quarter. State Treasurer State of Michigan now owns 97,900 shares of the company’s stock worth $621,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.
Shares of Noble Corp. (NYSE:NE) traded up 0.17% during trading on Monday, reaching $5.73. 3,908,335 shares of the company’s stock were exchanged. Noble Corp. has a 52 week low of $4.45 and a 52 week high of $13.90. The company’s 50-day moving average is $5.50 and its 200 day moving average is $6.95. The stock has a market capitalization of $1.39 billion, a PE ratio of 6.64 and a beta of 2.10.
Noble Corp. (NYSE:NE) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.04. Noble Corp. had a return on equity of 2.14% and a net margin of 7.90%. The firm earned $385.20 million during the quarter, compared to analyst estimates of $646.42 million. During the same quarter in the prior year, the company posted $0.72 EPS. The company’s quarterly revenue was down 57.0% on a year-over-year basis. On average, analysts forecast that Noble Corp. will post ($0.07) earnings per share for the current year.
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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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