Noble Corp. (NYSE:NE) had its target price dropped by stock analysts at Jefferies Group from $7.50 to $6.00 in a research note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the stock. Jefferies Group’s target price indicates a potential downside of 4.76% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Vetr lowered shares of Noble Corp. from a “strong-buy” rating to a “buy” rating and set a $7.10 price target on the stock. in a research report on Thursday, September 8th. Credit Suisse Group AG restated a “buy” rating and set a $10.00 price target on shares of Noble Corp. in a research report on Thursday, September 1st. Evercore ISI restated a “buy” rating on shares of Noble Corp. in a research report on Saturday, July 2nd. Zacks Investment Research upgraded shares of Noble Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, Bank of America Corp. upgraded shares of Noble Corp. from an “underperform” rating to a “neutral” rating and set a $7.50 price target on the stock in a research report on Tuesday, August 16th. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.79.
Noble Corp. (NYSE:NE) opened at 6.30 on Wednesday. The stock’s 50 day moving average is $5.90 and its 200-day moving average is $8.40. Noble Corp. has a 1-year low of $5.09 and a 1-year high of $14.64. The company has a market capitalization of $1.53 billion, a P/E ratio of 2.62 and a beta of 2.05.
Noble Corp. (NYSE:NE) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.22. The business had revenue of $894.70 million for the quarter, compared to analyst estimates of $527.48 million. Noble Corp. had a return on equity of 5.22% and a net margin of 18.34%. The business’s revenue was down 37.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, analysts expect that Noble Corp. will post ($0.06) earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in NE. PGGM Investments increased its stake in shares of Noble Corp. by 2.5% in the first quarter. PGGM Investments now owns 166,830 shares of the company’s stock worth $1,727,000 after buying an additional 4,048 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of Noble Corp. by 271.5% in the first quarter. Glenmede Trust Co. NA now owns 179,212 shares of the company’s stock worth $1,853,000 after buying an additional 130,972 shares in the last quarter. Aperio Group LLC increased its stake in shares of Noble Corp. by 19.8% in the first quarter. Aperio Group LLC now owns 235,565 shares of the company’s stock worth $2,438,000 after buying an additional 39,013 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Noble Corp. by 5.4% in the first quarter. IFP Advisors Inc now owns 10,692 shares of the company’s stock worth $111,000 after buying an additional 550 shares in the last quarter. Finally, Acrospire Investment Management LLC purchased a new stake in shares of Noble Corp. during the first quarter worth approximately $217,000. 90.26% of the stock is currently owned by institutional investors.
About Noble Corp.
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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