Noble Corporation PLC Plans Quarterly Dividend of $0.50 (NYSE:NE)

Noble Corporation PLC (NYSE:NE) declared a quarterly dividend on Sunday, April 26th. Stockholders of record on Thursday, June 4th will be paid a dividend of 0.50 per share on Thursday, June 25th. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Thursday, June 4th.

Noble has a dividend payout ratio of 71.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Noble to earn $2.29 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 87.3%.

Noble Stock Up 6.6%

Shares of Noble stock traded up $3.26 during trading on Monday, hitting $52.80. 1,454,833 shares of the stock traded hands, compared to its average volume of 1,967,479. The firm has a market cap of $8.42 billion, a P/E ratio of 39.11 and a beta of 1.00. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.43. Noble has a 52-week low of $20.80 and a 52-week high of $54.11. The stock’s fifty day simple moving average is $47.28 and its 200 day simple moving average is $36.97.

Noble (NYSE:NE) last announced its quarterly earnings results on Monday, April 27th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. The firm had revenue of $785.69 million for the quarter, compared to analyst estimates of $730.80 million. Noble had a return on equity of 2.34% and a net margin of 6.60%.The business’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. On average, equities analysts predict that Noble will post 1.06 earnings per share for the current fiscal year.

About Noble

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.