Noble Corp. (NE) Hits New 1-Year Low at $5.75
Noble Corp. (NYSE:NE) shares reached a new 52-week low on Tuesday . The company traded as low as $5.75 and last traded at $5.77, with a volume of 2,541,534 shares. The stock had previously closed at $5.88.
A number of research analysts recently weighed in on NE shares. Zephirin Group reissued a “hold” rating and set a $16.00 target price (up from $11.00) on shares of Noble Corp. in a report on Thursday, May 5th. Evercore ISI reissued a “buy” rating and set a $11.00 target price on shares of Noble Corp. in a report on Friday, May 13th. Simmons reissued an “underweight” rating and set a $4.70 target price (down from $6.00) on shares of Noble Corp. in a report on Friday, May 13th. Argus lowered Noble Corp. from a “buy” rating to a “hold” rating and decreased their target price for the stock from $9.71 to $8.53 in a report on Friday, May 20th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Noble Corp. in a report on Friday, May 20th. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $9.37.
The company has a 50 day moving average of $6.99 and a 200-day moving average of $8.93. The firm has a market capitalization of $1.40 billion and a price-to-earnings ratio of 2.40.
Noble Corp. (NYSE:NE) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.22. During the same period in the prior year, the business posted $0.64 earnings per share. The business earned $894.70 million during the quarter, compared to analysts’ expectations of $527.48 million. The firm’s revenue was down 37.2% on a year-over-year basis. Equities analysts forecast that Noble Corp. will post ($0.05) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 8th. Shareholders of record on Monday, August 1st were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, July 28th.
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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