Noble Corp. (NE) Downgraded by Vetr Inc.
Vetr cut shares of Noble Corp. (NYSE:NE) from a strong-buy rating to a buy rating in a research note released on Wednesday. The firm currently has $6.90 price target on the stock.
Other analysts have also issued reports about the company. Credit Suisse Group AG reissued a buy rating and issued a $10.00 price objective on shares of Noble Corp. in a report on Thursday, September 1st. Evercore ISI reissued a buy rating on shares of Noble Corp. in a report on Saturday, July 2nd. Jefferies Group dropped their price objective on Noble Corp. from $8.00 to $7.50 and set a hold rating on the stock in a report on Friday, July 29th. Zacks Investment Research raised Noble Corp. from a sell rating to a hold rating in a report on Tuesday, July 19th. Finally, Bank of America Corp. raised Noble Corp. from an underperform rating to a neutral rating and set a $7.50 price objective on the stock in a report on Tuesday, August 16th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $8.79.
Shares of Noble Corp. (NYSE:NE) opened at 6.34 on Wednesday. Noble Corp. has a 12-month low of $5.09 and a 12-month high of $14.64. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 2.64 and a beta of 2.09. The company’s 50-day moving average price is $5.89 and its 200 day moving average price is $8.37.
Noble Corp. (NYSE:NE) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.23 by $0.22. Noble Corp. had a net margin of 18.34% and a return on equity of 5.22%. The business earned $894.70 million during the quarter, compared to analyst estimates of $527.48 million. During the same period in the previous year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was down 37.2% on a year-over-year basis. On average, equities analysts predict that Noble Corp. will post ($0.06) earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NE. IFP Advisors Inc boosted its position in Noble Corp. by 5.4% in the first quarter. IFP Advisors Inc now owns 10,692 shares of the company’s stock valued at $111,000 after buying an additional 550 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in Noble Corp. during the second quarter valued at about $102,000. LS Investment Advisors LLC boosted its position in Noble Corp. by 77.4% in the second quarter. LS Investment Advisors LLC now owns 14,861 shares of the company’s stock valued at $122,000 after buying an additional 6,483 shares in the last quarter. James Investment Research Inc. acquired a new position in Noble Corp. during the second quarter valued at about $124,000. Finally, World Asset Management Inc boosted its position in Noble Corp. by 3.9% in the second quarter. World Asset Management Inc now owns 16,600 shares of the company’s stock valued at $137,000 after buying an additional 618 shares in the last quarter. 90.26% of the stock is owned by institutional investors and hedge funds.
Noble Corp. 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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Noble Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Corp. and related companies with MarketBeat.com's FREE daily email newsletter.