Noble Corporation (NE) Given a $5.00 Price Target by Royal Bank Of Canada Analysts
Noble Corporation (NYSE:NE) has been assigned a $5.00 price target by research analysts at Royal Bank Of Canada in a report released on Saturday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 21.07% from the stock’s current price.
A number of other brokerages have also commented on NE. Cowen and Company reiterated a “hold” rating and issued a $3.00 target price on shares of Noble Corporation in a research report on Tuesday, September 5th. Seaport Global Securities lowered Noble Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $5.00 to $3.50 in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) upgraded Noble Corporation to a “sell” rating in a research report on Wednesday, August 9th. Sanford C. Bernstein lowered Noble Corporation from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $7.00 to $2.50 in a research report on Thursday, July 6th. Finally, Citigroup Inc. lowered Noble Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $11.00 to $4.70 in a research report on Friday, June 16th. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the stock. Noble Corporation presently has an average rating of “Hold” and a consensus price target of $5.80.
Noble Corporation (NYSE NE) opened at 4.13 on Friday. The firm’s 50-day moving average is $3.83 and its 200 day moving average is $4.30. The company’s market cap is $1.01 billion. Noble Corporation has a 1-year low of $3.14 and a 1-year high of $8.37.
Noble Corporation (NYSE:NE) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $278.10 million for the quarter, compared to analyst estimates of $284.99 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The company’s revenue was down 68.9% on a year-over-year basis. Analysts predict that Noble Corporation will post ($1.25) earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in NE. Great West Life Assurance Co. Can grew its holdings in shares of Noble Corporation by 7.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 208,997 shares of the oil and gas company’s stock worth $1,291,000 after purchasing an additional 14,678 shares during the period. Comerica Bank grew its holdings in shares of Noble Corporation by 5.8% during the 1st quarter. Comerica Bank now owns 212,391 shares of the oil and gas company’s stock worth $1,026,000 after purchasing an additional 11,661 shares during the period. Swiss National Bank grew its holdings in shares of Noble Corporation by 1.5% during the 1st quarter. Swiss National Bank now owns 401,898 shares of the oil and gas company’s stock worth $2,488,000 after purchasing an additional 5,800 shares during the period. World Asset Management Inc grew its holdings in shares of Noble Corporation by 1.4% during the 1st quarter. World Asset Management Inc now owns 21,981 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 295 shares during the period. Finally, Karp Capital Management Corp purchased a new position in shares of Noble Corporation during the 1st quarter worth $693,000. Institutional investors and hedge funds own 95.64% of the company’s stock.
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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