Noble (NE) Given a $5.00 Price Target by Susquehanna Bancshares Analysts
Noble (NYSE:NE) has been assigned a $5.00 price objective by equities researchers at Susquehanna Bancshares in a research report issued to clients and investors on Friday. The firm currently has a “hold” rating on the oil and gas company’s stock. Susquehanna Bancshares’ price target suggests a potential downside of 13.34% from the company’s current price.
A number of other research analysts have also weighed in on NE. UBS Group raised Noble from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $4.00 to $6.00 in a report on Monday, September 25th. Royal Bank of Canada set a $5.00 target price on Noble and gave the stock a “hold” rating in a report on Saturday, October 7th. Deutsche Bank initiated coverage on Noble in a report on Tuesday, October 10th. They set a “hold” rating and a $4.00 target price on the stock. Zacks Investment Research raised Noble from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a report on Wednesday, October 18th. Finally, initiated coverage on Noble in a report on Thursday, October 19th. They set a “buy” rating and a $5.30 target price on the stock. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $5.41.
Noble (NYSE NE) opened at $5.77 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market capitalization of $1,410.00, a P/E ratio of -0.79 and a beta of 2.34. Noble has a 1-year low of $3.14 and a 1-year high of $7.76.
Noble (NYSE:NE) last posted its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.36). The business had revenue of $266.20 million for the quarter, compared to analyst estimates of $269.61 million. Noble had a negative return on equity of 3.94% and a negative net margin of 136.22%. The firm’s revenue was down 30.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.23) EPS. analysts anticipate that Noble will post -1.18 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. ProShare Advisors LLC grew its holdings in Noble by 9.1% in the 2nd quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock valued at $176,000 after buying an additional 4,047 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Noble by 0.8% during the 2nd quarter. California Public Employees Retirement System now owns 1,470,919 shares of the oil and gas company’s stock valued at $5,325,000 after acquiring an additional 11,000 shares during the period. California State Teachers Retirement System lifted its position in shares of Noble by 2.8% during the 3rd quarter. California State Teachers Retirement System now owns 444,840 shares of the oil and gas company’s stock valued at $2,046,000 after acquiring an additional 12,067 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in shares of Noble by 26.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 69,700 shares of the oil and gas company’s stock valued at $252,000 after acquiring an additional 14,590 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Noble by 3.6% during the 3rd quarter. Rhumbline Advisers now owns 489,841 shares of the oil and gas company’s stock valued at $2,253,000 after acquiring an additional 17,231 shares during the period. 86.80% of the stock is currently owned by hedge funds and other institutional investors.
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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