Noble Co. PLC (NYSE:NE) has been given a consensus rating of “Hold” by the nineteen research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $6.18.
Several analysts recently commented on the company. Seaport Global Securities set a $5.00 target price on Noble and gave the stock a “hold” rating in a report on Monday, August 6th. Tudor Pickering raised Noble from a “hold” rating to a “buy” rating in a report on Friday. ValuEngine lowered Noble from a “strong-buy” rating to a “buy” rating in a report on Monday, October 29th. Credit Suisse Group set a $6.00 price objective on Noble and gave the company a “hold” rating in a report on Friday. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $7.00 price objective on shares of Noble in a report on Monday, July 16th.
Noble stock traded down $0.01 during midday trading on Thursday, hitting $4.87. 7,614,513 shares of the company were exchanged, compared to its average volume of 6,421,594. Noble has a fifty-two week low of $3.39 and a fifty-two week high of $7.44. The company has a quick ratio of 2.07, a current ratio of 2.09 and a debt-to-equity ratio of 0.83.
Noble (NYSE:NE) last posted its earnings results on Wednesday, October 31st. The oil and gas company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.02. The firm had revenue of $279.41 million for the quarter, compared to analyst estimates of $263.19 million. Noble had a negative return on equity of 8.26% and a negative net margin of 79.51%. Noble’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company earned ($0.36) earnings per share. Sell-side analysts forecast that Noble will post -1.94 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of NE. Welch & Forbes LLC acquired a new stake in Noble in the third quarter valued at approximately $115,000. NumerixS Investment Technologies Inc acquired a new stake in Noble in the second quarter valued at approximately $229,000. Laurion Capital Management LP purchased a new position in shares of Noble in the second quarter valued at approximately $284,000. LMR Partners LLP purchased a new position in shares of Noble in the second quarter valued at approximately $317,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Noble in the second quarter valued at approximately $330,000. 86.43% of the stock is currently owned by institutional investors.
Noble Company Profile
Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It provides contract drilling services using mobile offshore drilling units. As of December 31, 2017, the company operated a fleet of 8 drill ships, 6 semisubmersibles, and 14 jack ups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.
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