Noble’s (NE) “Underweight” Rating Reiterated at Piper Jaffray Companies

Noble (NYSE:NE)‘s stock had its “underweight” rating reiterated by research analysts at Piper Jaffray Companies in a report released on Thursday, Marketbeat Ratings reports.

NE has been the topic of a number of other research reports. Royal Bank of Canada set a $5.00 price objective on shares of Noble and gave the stock a “hold” rating in a report on Sunday, November 12th. Deutsche Bank assumed coverage on shares of Noble in a report on Tuesday, October 10th. They set a “hold” rating and a $4.00 price objective on the stock. Cowen set a $3.00 target price on shares of Noble and gave the company a “hold” rating in a report on Wednesday, October 18th. Jefferies Group set a $6.00 target price on shares of Noble and gave the company a “buy” rating in a report on Thursday, January 4th. Finally, UBS Group raised shares of Noble from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.00 to $6.00 in a report on Monday, September 25th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $5.41.

Noble (NE) traded up $0.15 during mid-day trading on Thursday, reaching $5.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58. Noble has a one year low of $3.14 and a one year high of $7.76. The firm has a market cap of $1,410.00, a P/E ratio of -0.79 and a beta of 2.34.

Noble (NYSE:NE) last released its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.36). Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. The company had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $269.61 million. During the same quarter last year, the company earned ($0.23) earnings per share. The firm’s revenue for the quarter was down 30.9% on a year-over-year basis. equities research analysts expect that Noble will post -1.18 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Noble by 37.6% in the 2nd quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock valued at $117,253,000 after buying an additional 8,843,373 shares during the period. Vanguard Group Inc. increased its stake in Noble by 16.7% in the 2nd quarter. Vanguard Group Inc. now owns 23,523,527 shares of the oil and gas company’s stock valued at $85,155,000 after buying an additional 3,371,015 shares during the period. State Street Corp increased its stake in Noble by 31.7% in the 2nd quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock valued at $81,248,000 after buying an additional 5,405,697 shares during the period. Contrarius Investment Management Ltd increased its stake in Noble by 21.7% in the 3rd quarter. Contrarius Investment Management Ltd now owns 6,631,412 shares of the oil and gas company’s stock valued at $30,504,000 after buying an additional 1,184,494 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Noble by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,645,549 shares of the oil and gas company’s stock valued at $20,437,000 after buying an additional 145,172 shares during the period. 86.98% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This story was posted by BBNS and is the sole property of of BBNS. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://baseballnewssource.com/markets/nobles-ne-underweight-rating-reiterated-at-piper-jaffray-companies/1838409.html.

About Noble

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.

Analyst Recommendations for Noble (NYSE:NE)

Receive News & Ratings for Noble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble and related companies with our FREE daily email newsletter.

 


Latest News

Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
Trade Rumor: Manny Machado Could Land With Yankees
Trade Rumor: Manny Machado Could Land With Yankees
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal


Leave a Reply

 
© 2006-2018 BBNS.