Noble Corporation (NYSE:NE) – Equities research analysts at Jefferies Group boosted their FY2017 earnings per share (EPS) estimates for Noble Corporation in a research note issued to investors on Tuesday. Jefferies Group analyst E. Royes now anticipates that the oil and gas company will earn ($1.15) per share for the year, up from their previous forecast of ($1.20). Jefferies Group currently has a “Buy” rating and a $5.50 target price on the stock. Jefferies Group also issued estimates for Noble Corporation’s FY2019 earnings at ($1.35) EPS.

Noble Corporation (NYSE:NE) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. The company had revenue of $363 million for the quarter, compared to analysts’ expectations of $368.25 million. Noble Corporation had a negative return on equity of 1.69% and a negative net margin of 65.11%. The firm’s revenue for the quarter was down 40.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share.

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Other research analysts also recently issued reports about the company. Instinet upgraded Noble Corporation from a “reduce” rating to a “neutral” rating and lifted their price target for the company from $4.35 to $5.00 in a report on Thursday, May 18th. Nomura upgraded Noble Corporation from a “reduce” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Thursday, May 18th. Royal Bank Of Canada reiterated a “sell” rating and issued a $5.00 price target on shares of Noble Corporation in a report on Thursday. Sanford C. Bernstein downgraded Noble Corporation from a “market perform” rating to an “underperform” rating and cut their price target for the company from $7.00 to $2.50 in a report on Thursday, July 6th. Finally, Seaport Global Securities downgraded Noble Corporation from a “buy” rating to a “neutral” rating and cut their price target for the company from $5.00 to $3.50 in a report on Wednesday, June 21st. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $6.23.

Shares of Noble Corporation (NE) opened at 4.00 on Thursday. Noble Corporation has a 52 week low of $3.32 and a 52 week high of $8.37. The stock’s market capitalization is $978.74 million. The company has a 50-day moving average price of $3.84 and a 200 day moving average price of $5.48.

A number of hedge funds have recently modified their holdings of the company. Wright Investors Service Inc. boosted its stake in shares of Noble Corporation by 3.9% in the second quarter. Wright Investors Service Inc. now owns 38,115 shares of the oil and gas company’s stock worth $138,000 after buying an additional 1,440 shares in the last quarter. Founders Capital Management boosted its stake in shares of Noble Corporation by 95.9% in the second quarter. Founders Capital Management now owns 30,270 shares of the oil and gas company’s stock worth $110,000 after buying an additional 14,820 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Noble Corporation by 136.6% in the second quarter. Aperio Group LLC now owns 265,060 shares of the oil and gas company’s stock worth $960,000 after buying an additional 153,041 shares in the last quarter. Sippican Capital Advisors boosted its stake in shares of Noble Corporation by 12.4% in the second quarter. Sippican Capital Advisors now owns 249,770 shares of the oil and gas company’s stock worth $904,000 after buying an additional 27,539 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Noble Corporation by 61.2% in the second quarter. Louisiana State Employees Retirement System now owns 99,600 shares of the oil and gas company’s stock worth $361,000 after buying an additional 37,800 shares in the last quarter. 98.61% of the stock is owned by institutional investors.

Noble Corporation 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.

Earnings History and Estimates for Noble Corporation (NYSE:NE)

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