Shares of Noble Co. (NYSE:NE) have been assigned a consensus recommendation of “Hold” from the twenty-two analysts that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $4.68.
A number of research firms have recently weighed in on NE. Royal Bank of Canada set a $5.00 price target on shares of Noble and gave the company a “hold” rating in a research report on Thursday, December 21st. Zacks Investment Research downgraded shares of Noble from a “hold” rating to a “sell” rating in a research report on Tuesday, January 16th. Jefferies Group set a $6.00 price target on shares of Noble and gave the company a “buy” rating in a research report on Thursday, January 4th. ValuEngine downgraded shares of Noble from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Finally, Argus upgraded shares of Noble from a “hold” rating to a “buy” rating in a research report on Tuesday, March 13th.
Shares of NE stock opened at $4.55 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market cap of $1,110.49, a price-to-earnings ratio of -3.99 and a beta of 2.20. Noble has a 12-month low of $3.14 and a 12-month high of $5.80.
Noble (NYSE:NE) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.04. The firm had revenue of $329.59 million during the quarter, compared to the consensus estimate of $285.67 million. Noble had a negative net margin of 41.76% and a negative return on equity of 4.61%. The business’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period last year, the business posted ($0.15) earnings per share. sell-side analysts anticipate that Noble will post -1.82 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in Noble in the third quarter valued at approximately $102,000. Everence Capital Management Inc. bought a new position in Noble in the fourth quarter valued at approximately $127,000. Investors Research Corp bought a new position in Noble in the fourth quarter valued at approximately $138,000. OxFORD Asset Management LLP bought a new stake in shares of Noble during the third quarter worth $219,000. Finally, WCM Investment Management CA bought a new stake in shares of Noble during the fourth quarter worth $294,000. 87.75% of the stock is currently owned by institutional investors and hedge funds.
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Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It provides contract drilling services using mobile offshore drilling units. As of December 31, 2017, the company operated a fleet of 8 drill ships, 6 semisubmersibles, and 14 jack ups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.
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