Noble Corp. (NE) Stock Price Down 2.8%
Noble Corp. (NYSE:NE)’s share price fell 2.8% during mid-day trading on Thursday . The company traded as low as $5.45 and last traded at $5.60, with a volume of 9,194,240 shares. The stock had previously closed at $5.76.
A number of brokerages have recently issued reports on NE. Simmons restated 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. Jefferies Group decreased their target price on Noble Corp. from $8.00 to $7.50 and set a “hold” rating for the company in a research note on Friday, July 29th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Noble Corp. in a research note on Friday, May 20th. Bank of America Corp. raised Noble Corp. from an “underperform” rating to a “neutral” rating and set a $7.50 target price for the company in a research note on Tuesday, August 16th. Finally, Nomura set a $6.00 target price on Noble Corp. and gave the stock a “sell” rating in a research note on Tuesday, August 16th. Eight research 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’s stock. Noble Corp. currently has an average rating of “Hold” and an average target price of $9.37.
The company has a 50-day moving average of $6.85 and a 200-day moving average of $8.89. The firm has a market capitalization of $1.42 billion and a price-to-earnings ratio of 2.42.
Noble Corp. (NYSE:NE) last issued its earnings results on Wednesday, July 27th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.23 by $0.22. During the same quarter last year, the company posted $0.64 EPS. The business earned $894.70 million during the quarter, compared to analyst estimates of $527.48 million. The company’s revenue was down 37.2% on a year-over-year basis. On average, equities analysts predict that Noble Corp. will post ($0.05) EPS for the current year.
The firm also recently announced 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. The ex-dividend date was Thursday, July 28th. This represents a $0.08 annualized dividend and a yield of 1.37%.
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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