Noble Corp. (NYSE:NE) was downgraded by analysts at Societe Generale from a “buy” rating to a “hold” rating in a research report issued on Monday. They currently have a $7.00 target price on the stock, down from their previous target price of $10.00. Societe Generale’s price target suggests a potential upside of 17.65% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Jefferies Group restated a “hold” rating on shares of Noble Corp. in a report on Sunday, July 10th. Evercore ISI restated a “buy” rating on shares of Noble Corp. in a report on Saturday, July 2nd. Zacks Investment Research cut shares of Noble Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Vetr cut shares of Noble Corp. from a “strong-buy” rating to a “buy” rating and set a $9.76 target price on the stock. in a report on Monday, June 6th. Finally, Argus cut shares of Noble Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $8.65.
Noble Corp. (NYSE:NE) opened at 5.95 on Monday. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 2.48 and a beta of 2.09. The stock’s 50 day moving average is $5.86 and its 200-day moving average is $8.25. Noble Corp. has a 52-week low of $5.09 and a 52-week high of $14.64.
Noble Corp. (NYSE:NE) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.22. Noble Corp. had a net margin of 18.34% and a return on equity of 5.22%. The firm had revenue of $894.70 million for the quarter, compared to analysts’ expectations of $527.48 million. During the same quarter in the previous year, the company earned $0.64 EPS. The company’s quarterly revenue was down 37.2% compared to the same quarter last year. Equities research analysts anticipate that Noble Corp. will post ($0.06) EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Speece Thorson Capital Group Inc. raised its stake in Noble Corp. by 20.3% in the second quarter. Speece Thorson Capital Group Inc. now owns 1,573,228 shares of the company’s stock valued at $12,963,000 after buying an additional 265,625 shares in the last quarter. James Investment Research Inc. acquired a new stake in Noble Corp. during the second quarter valued at approximately $124,000. Glenmede Trust Co. NA raised its stake in Noble Corp. by 98.5% in the second quarter. Glenmede Trust Co. NA now owns 355,782 shares of the company’s stock valued at $2,930,000 after buying an additional 176,570 shares in the last quarter. Sippican Capital Advisors raised its stake in Noble Corp. by 35.1% in the second quarter. Sippican Capital Advisors now owns 162,414 shares of the company’s stock valued at $1,338,000 after buying an additional 42,187 shares in the last quarter. Finally, First Quadrant L P CA raised its stake in Noble Corp. by 4.9% in the second quarter. First Quadrant L P CA now owns 750,498 shares of the company’s stock valued at $6,184,000 after buying an additional 35,000 shares in the last quarter. Institutional investors and hedge funds own 90.26% of the company’s stock.
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.
Receive News & Ratings for Noble Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Corp. and related companies with MarketBeat.com's FREE daily email newsletter.