Noble (NYSE:NE) issued its earnings results on Wednesday. The oil and gas company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04, Bloomberg Earnings reports. The business had revenue of $329.59 million during the quarter, compared to analyst estimates of $285.67 million. Noble had a negative return on equity of 3.94% and a negative net margin of 136.22%. Noble’s revenue was down 19.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.15) earnings per share.
Noble (NYSE NE) traded down $0.08 during trading on Wednesday, reaching $4.01. The company’s stock had a trading volume of 3,830,000 shares, compared to its average volume of 8,380,000. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. Noble has a 1 year low of $3.14 and a 1 year high of $7.39. The firm has a market capitalization of $1,000.00, a price-to-earnings ratio of -0.55 and a beta of 2.22.
A number of research analysts recently commented on the company. Zacks Investment Research lowered Noble from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. Piper Jaffray Companies restated an “underweight” rating on shares of Noble in a research note on Thursday, January 11th. Jefferies Group set a $6.00 target price on Noble and gave the company a “buy” rating in a research note on Thursday, January 4th. Susquehanna Bancshares set a $5.00 target price on Noble and gave the company a “hold” rating in a research note on Friday, January 12th. Finally, ValuEngine lowered Noble from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Eight analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $4.97.
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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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