Noble Corporation (NE) Stock Rating Reaffirmed by Seaport Global Securities
Seaport Global Securities reissued their neutral rating on shares of Noble Corporation (NYSE:NE) in a research report released on Monday. Seaport Global Securities also issued estimates for Noble Corporation’s Q3 2017 earnings at ($0.33) EPS, Q4 2017 earnings at ($0.29) EPS, FY2017 earnings at ($1.11) EPS, Q1 2018 earnings at ($0.29) EPS, Q2 2018 earnings at ($0.26) EPS, Q3 2018 earnings at ($0.31) EPS, Q4 2018 earnings at ($0.27) EPS, FY2018 earnings at ($1.12) EPS, Q1 2019 earnings at ($0.28) EPS, Q2 2019 earnings at ($0.29) EPS and FY2019 earnings at ($1.12) EPS.
Several other equities analysts have also recently weighed in on the company. Credit Suisse Group restated a buy rating and set a $10.00 price objective on shares of Noble Corporation in a research note on Friday, April 21st. Citigroup Inc. cut Noble Corporation from a buy rating to a neutral rating and dropped their price objective for the company from $11.00 to $4.70 in a research note on Friday, June 16th. BMO Capital Markets set a $5.00 price objective on Noble Corporation and gave the company a sell rating in a research note on Tuesday, April 18th. Piper Jaffray Companies set a $4.00 price objective on Noble Corporation and gave the company a hold rating in a research note on Monday. Finally, Deutsche Bank AG dropped their price objective on Noble Corporation from $7.00 to $6.00 and set a hold rating on the stock in a research note on Tuesday, April 18th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Noble Corporation presently has an average rating of Hold and an average price target of $6.10.
Shares of Noble Corporation (NE) opened at 3.36 on Monday. Noble Corporation has a 12-month low of $3.27 and a 12-month high of $8.37. The stock has a 50 day moving average of $3.85 and a 200-day moving average of $5.26. The firm’s market capitalization is $822.14 million.
Noble Corporation (NYSE:NE) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.02. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. The company had revenue of $278.10 million for the quarter, compared to analysts’ expectations of $284.99 million. During the same period last year, the business earned $0.01 EPS. Noble Corporation’s quarterly revenue was down 68.9% compared to the same quarter last year. On average, equities research analysts predict that Noble Corporation will post ($1.27) EPS for the current fiscal year.
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A number of large investors have recently made changes to their positions in NE. Chicago Equity Partners LLC raised its stake in shares of Noble Corporation by 50.7% in the first quarter. Chicago Equity Partners LLC now owns 16,650 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 5,600 shares during the period. Teacher Retirement System of Texas raised its position in Noble Corporation by 16.8% in the first quarter. Teacher Retirement System of Texas now owns 19,601 shares of the oil and gas company’s stock worth $121,000 after buying an additional 2,816 shares during the last quarter. Tiedemann Wealth Management LLC raised its position in Noble Corporation by 41.6% in the first quarter. Tiedemann Wealth Management LLC now owns 20,730 shares of the oil and gas company’s stock worth $128,000 after buying an additional 6,086 shares during the last quarter. Verde Servicos Internacionais S.A. bought a new position in Noble Corporation during the first quarter worth $129,000. Finally, World Asset Management Inc raised its position in Noble Corporation by 1.4% in the first quarter. World Asset Management Inc now owns 21,981 shares of the oil and gas company’s stock worth $136,000 after buying an additional 295 shares during the last quarter. 98.66% of the stock is owned by 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.
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