Noble (NYSE:NE) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Noble from a “buy” rating to a “hold” rating and set a $2.25 target price for the company. in a report on Tuesday, June 11th. SEB Equities lowered shares of Noble from a “buy” rating to a “sell” rating and lowered their target price for the stock from $2.80 to $1.50 in a report on Tuesday, June 18th. Bank of America initiated coverage on shares of Noble in a report on Monday, June 10th. They issued an “underperform” rating and a $1.25 target price for the company. Barclays set a $3.00 target price on shares of Noble and gave the stock a “sell” rating in a report on Friday, May 3rd. Finally, HSBC set a $3.00 target price on shares of Noble and gave the stock a “buy” rating in a report on Monday, July 15th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $4.68.
Shares of Noble stock traded down $0.18 during trading on Thursday, hitting $1.85. The stock had a trading volume of 4,002,961 shares, compared to its average volume of 5,632,190. The company has a fifty day simple moving average of $1.84. The firm has a market capitalization of $555.62 million, a PE ratio of -1.01 and a beta of 2.51. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.77 and a current ratio of 0.77. Noble has a 12 month low of $1.50 and a 12 month high of $7.44.
Noble (NYSE:NE) last released its earnings results on Thursday, August 1st. The oil and gas company reported ($0.34) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.11. The firm had revenue of $292.90 million during the quarter, compared to analyst estimates of $271.59 million. Noble had a negative net margin of 71.96% and a negative return on equity of 8.75%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.49) EPS. Analysts forecast that Noble will post -1.73 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Hellman Jordan Management Co. Inc. MA bought a new stake in Noble during the 1st quarter valued at about $29,000. Actinver Wealth Management Inc. bought a new stake in shares of Noble in the 4th quarter valued at about $36,000. Evergreen Capital Management LLC bought a new stake in shares of Noble in the 1st quarter valued at about $31,000. Fiera Capital Corp bought a new stake in shares of Noble in the 1st quarter valued at about $39,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Noble in the 1st quarter valued at about $50,000. Institutional investors own 80.20% of the company’s stock.
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, 2018, the company operated a fleet of 24 drilling rigs consisted of 8 drill ships, 4 semisubmersibles, and 12 jack ups.
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