Shares of Noble Corp. (NYSE:NE) have earned an average rating of “Hold” from the thirty-two analysts that are presently covering the stock. Seven analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.06.
A number of analysts have recently weighed in on the company. Jefferies Group cut their target price on Noble Corp. from $8.00 to $7.50 and set a “hold” rating for the company in a research report on Friday, July 29th. Goldman Sachs Group Inc. raised Noble Corp. from a “sell” rating to a “neutral” rating in a report on Wednesday. Bank of America Corp. raised Noble Corp. from an “underperform” rating to a “neutral” rating and set a $7.50 price target for the company in a report on Tuesday, August 16th. Howard Weil started coverage on Noble Corp. in a report on Wednesday, September 14th. They set a “sector perform” rating and a $6.50 price target for the company. Finally, Nomura set a $6.00 price target on Noble Corp. and gave the stock a “sell” rating in a report on Tuesday, August 16th.
Shares of Noble Corp. (NYSE:NE) opened at 5.40 on Monday. The stock has a 50 day moving average price of $6.13 and a 200-day moving average price of $8.64. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 2.25 and a beta of 2.05. Noble Corp. has a 52 week low of $5.09 and a 52 week high of $14.64.
Noble Corp. (NYSE:NE) last released its earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.22. The company had revenue of $894.70 million for the quarter, compared to the consensus estimate of $527.48 million. Noble Corp. had a net margin of 18.34% and a return on equity of 5.22%. The business’s revenue was down 37.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, equities research analysts forecast that Noble Corp. will post ($0.07) earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Noble Corp. by 56.4% in the second quarter. Dimensional Fund Advisors LP now owns 10,805,125 shares of the company’s stock worth $89,037,000 after buying an additional 3,897,284 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Noble Corp. by 6.9% in the second quarter. Vanguard Group Inc. now owns 30,239,221 shares of the company’s stock worth $249,170,000 after buying an additional 1,947,799 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Noble Corp. by 26.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 9,202,846 shares of the company’s stock worth $75,831,000 after buying an additional 1,928,876 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Noble Corp. by 141.3% in the second quarter. Marshall Wace LLP now owns 2,088,065 shares of the company’s stock worth $17,206,000 after buying an additional 1,222,798 shares during the last quarter. Finally, Winton Capital Group Ltd acquired a new stake in shares of Noble Corp. during the second quarter worth approximately $9,242,000. 90.26% of the stock is owned by institutional investors.
About Noble Corp.
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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