A number of other equities research analysts have also issued reports on NE. Zacks Investment Research lowered shares of Noble Corp. from a hold rating to a sell rating in a research note on Wednesday, June 29th. Evercore ISI reissued a buy rating on shares of Noble Corp. in a research note on Saturday, July 2nd. Jefferies Group reissued a hold rating on shares of Noble Corp. in a research note on Sunday, July 10th. Argus lowered shares of Noble Corp. from a hold rating to a sell rating in a research note on Wednesday, August 10th. Finally, Bank of America Corp. raised shares of Noble Corp. from an underperform rating to a neutral rating and set a $7.50 target price for the company in a research note on Tuesday, August 16th. Eight research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $8.65.
Shares of Noble Corp. (NYSE:NE) opened at 6.29 on Monday. The stock’s 50 day moving average price is $5.84 and its 200 day moving average price is $8.22. Noble Corp. has a 52 week low of $5.09 and a 52 week high of $14.64. The firm has a market capitalization of $1.53 billion, a P/E ratio of 2.62 and a beta of 2.09.
Noble Corp. (NYSE:NE) last issued its earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.22. The company had revenue of $894.70 million for the quarter, compared to analyst estimates of $527.48 million. Noble Corp. had a net margin of 18.34% and a return on equity of 5.22%. The company’s quarterly revenue was down 37.2% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. On average, analysts predict that Noble Corp. will post ($0.06) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of NE. Capstone Investment Advisors LLC bought a new position in Noble Corp. during the second quarter valued at about $102,000. IFP Advisors Inc increased its position in Noble Corp. by 5.4% in the first quarter. IFP Advisors Inc now owns 10,692 shares of the company’s stock valued at $111,000 after buying an additional 550 shares during the last quarter. LS Investment Advisors LLC increased its position in Noble Corp. by 77.4% in the second quarter. LS Investment Advisors LLC now owns 14,861 shares of the company’s stock valued at $122,000 after buying an additional 6,483 shares during the last quarter. James Investment Research Inc. bought a new position in Noble Corp. during the second quarter valued at about $124,000. Finally, World Asset Management Inc increased its position in Noble Corp. by 3.9% in the second quarter. World Asset Management Inc now owns 16,600 shares of the company’s stock valued at $137,000 after buying an additional 618 shares during the last quarter. Institutional investors 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.
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