Noble Corp. (NE) Sets New 1-Year Low at $5.75
Shares of Noble Corp. (NYSE:NE) reached a new 52-week low on Tuesday . The stock 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.
NE has been the subject of several recent analyst reports. Citigroup Inc. dropped their price objective on shares of Noble Corp. from $9.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, August 25th. Zacks Investment Research lowered shares of Noble Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Bank of America Corp. raised shares of Noble Corp. from an “underperform” rating to a “neutral” rating and set a $7.50 price objective for the company in a report on Tuesday, August 16th. Vetr raised shares of Noble Corp. from a “hold” rating to a “buy” rating and set a $9.76 price objective for the company in a report on Monday, June 13th. Finally, Argus lowered shares of Noble Corp. from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $9.71 to $8.53 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 given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $9.58.
The stock’s 50 day moving average is $7.14 and its 200 day moving average is $8.97. The firm has a market cap of $1.40 billion and a PE ratio of 2.39.
Noble Corp. (NYSE:NE) last announced 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 EPS. The business had revenue of $894.70 million for the quarter, compared to analysts’ expectations of $527.48 million. The business’s revenue for the quarter was down 37.2% on a year-over-year basis. Equities research analysts anticipate that Noble Corp. will post ($0.05) earnings per share for the current fiscal 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 $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.36%. 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.