Piper Jaffray Companies set a $6.00 price target on Noble (NYSE:NE) in a report issued on Tuesday. The firm currently has a hold rating on the oil and gas company’s stock. Piper Jaffray Companies also issued estimates for Noble’s Q4 2018 earnings at ($0.38) EPS, Q1 2019 earnings at ($0.50) EPS, Q2 2019 earnings at ($0.52) EPS, FY2019 earnings at ($1.96) EPS, FY2020 earnings at ($1.27) EPS, FY2021 earnings at ($0.41) EPS and FY2022 earnings at ($0.39) EPS.
Several other research firms have also commented on NE. Tudor Pickering raised shares of Noble from a hold rating to a buy rating in a research note on Friday, November 2nd. Seaport Global Securities set a $5.00 price objective on shares of Noble and gave the stock a hold rating in a research note on Monday, August 6th. Simmons upgraded shares of Noble from an underweight rating to a neutral rating and upped their target price for the stock from $3.25 to $6.00 in a research note on Monday, October 1st. Cowen started coverage on shares of Noble in a research note on Saturday, October 13th. They issued a hold rating and a $6.00 target price on the stock. Finally, Morgan Stanley started coverage on shares of Noble in a research note on Tuesday, September 18th. They issued an underweight rating and a $6.00 target price on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Noble presently has a consensus rating of Hold and a consensus price target of $6.24.
NYSE:NE traded down $0.05 during mid-day trading on Tuesday, hitting $4.64. 6,327,744 shares of the company’s stock were exchanged, compared to its average volume of 6,107,411. Noble has a one year low of $3.39 and a one year high of $7.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.09 and a quick ratio of 2.07. The firm has a market capitalization of $1.23 billion, a P/E ratio of -4.07 and a beta of 2.45.
Noble (NYSE:NE) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.02. Noble had a negative net margin of 79.51% and a negative return on equity of 8.26%. The business had revenue of $279.41 million for the quarter, compared to analyst estimates of $263.19 million. During the same quarter in the previous year, the firm posted ($0.36) earnings per share. Noble’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts expect that Noble will post -1.85 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Noble by 16.4% during the second quarter. Dimensional Fund Advisors LP now owns 16,640,068 shares of the oil and gas company’s stock valued at $105,330,000 after purchasing an additional 2,346,793 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Noble during the second quarter valued at approximately $12,669,000. BlackRock Inc. raised its holdings in shares of Noble by 4.8% during the second quarter. BlackRock Inc. now owns 37,605,342 shares of the oil and gas company’s stock valued at $238,043,000 after purchasing an additional 1,720,572 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Noble by 263.9% during the second quarter. Millennium Management LLC now owns 1,973,946 shares of the oil and gas company’s stock valued at $12,495,000 after purchasing an additional 1,431,523 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in shares of Noble by 213.0% during the third quarter. Frontier Capital Management Co. LLC now owns 1,880,583 shares of the oil and gas company’s stock valued at $13,220,000 after purchasing an additional 1,279,673 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.
Noble Company Profile
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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