Iberia Capital began coverage on shares of Noble Corporation (NYSE:NE) in a research report report published on Friday. The brokerage issued an outperform rating and a $12.50 price target on the stock.
Several other research analysts have also commented on the company. Jefferies Group restated a hold rating and set a $7.00 price target (up from $6.00) on shares of Noble Corporation in a research report on Friday, December 23rd. Royal Bank Of Canada lowered Noble Corporation from a sector perform rating to an underperform rating and set a $7.00 target price for the company. in a report on Friday, December 16th. Goldman Sachs Group, Inc. (The) lowered Noble Corporation from a neutral rating to a sell rating and set a $4.00 target price for the company. in a report on Friday, December 16th. RBC Capital Markets lowered Noble Corporation from a sector perform rating to an underperform rating and set a $7.00 target price for the company. in a report on Friday, December 16th. Finally, Sanford C. Bernstein assumed coverage on Noble Corporation in a report on Thursday, December 1st. They issued a market perform rating and a $6.50 target price for the company. Ten research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Noble Corporation currently has a consensus rating of Hold and a consensus price target of $7.80.
Shares of Noble Corporation (NYSE:NE) traded up 1.736% on Friday, reaching $7.325. The company had a trading volume of 3,605,385 shares. The company has a market capitalization of $1.78 billion, a P/E ratio of 8.488 and a beta of 2.20. The company has a 50 day moving average of $6.46 and a 200-day moving average of $6.39. Noble Corporation has a 52 week low of $4.45 and a 52 week high of $13.90.
Noble Corporation (NYSE:NE) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by $0.04. Noble Corporation had a return on equity of 2.14% and a net margin of 7.90%. The firm had revenue of $385.20 million for the quarter, compared to analysts’ expectations of $646.42 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company’s quarterly revenue was down 57.0% on a year-over-year basis. Analysts predict that Noble Corporation will post ($0.11) earnings per share for the current fiscal year.
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A number of large investors have recently bought and sold shares of the stock. LS Investment Advisors LLC raised its stake in Noble Corporation by 5.6% in the third quarter. LS Investment Advisors LLC now owns 15,695 shares of the company’s stock worth $100,000 after buying an additional 834 shares during the last quarter. Global Endowment Management LP bought a new stake in Noble Corporation during the third quarter worth about $100,000. Capstone Investment Advisors LLC bought a new stake in Noble Corporation during the second quarter worth about $102,000. Acadian Asset Management LLC raised its stake in Noble Corporation by 1,343.9% in the third quarter. Acadian Asset Management LLC now owns 16,114 shares of the company’s stock worth $102,000 after buying an additional 14,998 shares during the last quarter. Finally, Advisor Group Inc. raised its stake in Noble Corporation by 112.7% in the third quarter. Advisor Group Inc. now owns 15,989 shares of the company’s stock worth $102,000 after buying an additional 8,472 shares during the last quarter. 87.98% of the stock is currently owned by hedge funds and other institutional investors.
Noble Corporation Company Profile
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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