Noble Corp. (NE) Reaches New 1-Year Low at $5.91
Noble Corp. (NYSE:NE)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $5.91 and last traded at $6.05, with a volume of 4,157,736 shares changing hands. The stock had previously closed at $6.14.
Several equities research analysts recently commented on NE shares. Zephirin Group reaffirmed a “hold” rating and set a $16.00 price objective (up from $11.00) on shares of Noble Corp. in a research report on Thursday, May 5th. Vetr raised Noble Corp. from a “hold” rating to a “buy” rating and set a $9.76 price objective on the stock in a research report on Monday, June 13th. Simmons reaffirmed an “underweight” rating and set a $4.70 price objective (down from $6.00) on shares of Noble Corp. in a research report on Friday, May 13th. Evercore ISI reaffirmed a “buy” rating and set a $11.00 price objective on shares of Noble Corp. in a research report on Friday, May 13th. Finally, Zacks Investment Research cut Noble Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $9.58.
The firm has a market capitalization of $1.44 billion and a P/E ratio of 2.47. The stock’s 50-day moving average price is $7.27 and its 200-day moving average price is $8.96.
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 analysts’ consensus estimates of $0.23 by $0.22. The business earned $894.70 million during the quarter, compared to the consensus estimate of $527.48 million. During the same quarter in the prior year, the company earned $0.64 EPS. The company’s quarterly revenue was down 37.2% compared to the same quarter last year. On average, equities analysts expect that Noble Corp. will post ($0.02) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 8th. Shareholders of record on Monday, August 1st were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.08 dividend on an annualized basis and a yield of 1.35%.
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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