Noble Corporation PLC (NE) To Go Ex-Dividend on September 3rd

Noble Corporation PLC (NYSE:NE) announced a quarterly dividend on Monday, July 27th. Shareholders of record on Thursday, September 3rd will be paid a dividend of 0.50 per share on Thursday, September 24th. This represents a c) annualized dividend and a yield of 5.1%. The ex-dividend date is Thursday, September 3rd.

Noble has a dividend payout ratio of 71.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Noble to earn $2.60 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 76.9%.

Noble Price Performance

NYSE NE opened at $39.32 on Wednesday. The firm’s fifty day simple moving average is $43.33 and its two-hundred day simple moving average is $44.15. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.42. Noble has a 12-month low of $25.24 and a 12-month high of $54.98. The firm has a market capitalization of $6.27 billion, a P/E ratio of 42.28 and a beta of 0.92.

Noble (NYSE:NE) last issued its quarterly earnings results on Monday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.14). Noble had a return on equity of 1.93% and a net margin of 4.88%.The business had revenue of $719.69 million for the quarter, compared to analyst estimates of $697.98 million. During the same period in the previous year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. Analysts forecast that Noble will post 0.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NE shares. Wall Street Zen raised Noble from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Noble in a research note on Friday. Evercore set a $59.00 price objective on shares of Noble in a report on Monday, April 27th. Susquehanna decreased their price objective on shares of Noble from $55.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, July 8th. Finally, Zacks Research cut shares of Noble from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.12.

Noble Company Profile

Noble (NYSE: NE) is an offshore drilling company that provides drilling services to the global oil and gas industry. The firm operates a fleet of mobile offshore drilling units and delivers contract drilling solutions for exploration and production activities. Its core business centers on executing drilling programs for upstream energy companies across a range of water depths and operating environments.

Products and services include the operation and management of offshore drilling rigs — such as drillships, semisubmersibles and jackups — along with associated technical, engineering and project management services.