Noble Corp. (NE) Reaches New 12-Month Low at $5.91
Shares of Noble Corp. (NYSE:NE) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $5.91 and last traded at $6.05, with a volume of 4,157,736 shares trading hands. The stock had previously closed at $6.14.
Several analysts recently issued reports on NE shares. Zacks Investment Research downgraded shares of Noble Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Vetr raised shares of Noble Corp. from a “hold” rating to a “buy” rating and set a $9.76 price objective on the stock in a report on Monday, June 13th. Evercore ISI reaffirmed a “buy” rating and set a $11.00 price objective on shares of Noble Corp. in a report on Friday, May 13th. Argus downgraded shares of Noble Corp. from a “buy” rating to a “hold” rating and cut their price objective for the stock from $9.71 to $8.53 in a report on Friday, May 20th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Noble Corp. in a report on Sunday, July 10th. Eight analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company. Noble Corp. presently has an average rating of “Hold” and a consensus target price of $9.63.
The stock has a market capitalization of $1.45 billion and a price-to-earnings ratio of 2.49. The stock has a 50 day moving average of $7.40 and a 200 day moving average of $9.01.
Noble Corp. (NYSE:NE) last posted 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. The firm earned $894.70 million during the quarter, compared to analysts’ expectations of $527.48 million. During the same quarter in the prior year, the business earned $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 research analysts expect that Noble Corp. will post ($0.01) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 8th. Stockholders of record on Monday, August 1st were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.30%. The ex-dividend date 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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