Shares of Noble Co. PLC (NYSE:NE) have earned a consensus rating of “Hold” from the twenty-one brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $5.81.
Several research firms have recently commented on NE. Nordea Equity Research raised shares of Noble from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. Piper Jaffray Companies raised shares of Noble from an “underweight” rating to a “hold” rating and set a $6.00 price target for the company in a research report on Monday, October 1st. Societe Generale raised shares of Noble from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Friday, October 12th. ValuEngine cut shares of Noble from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 29th. Finally, Credit Suisse Group set a $6.00 price target on shares of Noble and gave the company a “hold” rating in a research report on Monday, September 24th.
A number of institutional investors have recently modified their holdings of NE. Welch & Forbes LLC purchased a new position in Noble in the third quarter worth about $115,000. First Mercantile Trust Co. grew its stake in shares of Noble by 210.1% in the third quarter. First Mercantile Trust Co. now owns 29,051 shares of the oil and gas company’s stock worth $204,000 after acquiring an additional 19,684 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Noble by 127.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,703 shares of the oil and gas company’s stock worth $216,000 after acquiring an additional 17,214 shares during the period. Laurion Capital Management LP bought a new stake in shares of Noble in the second quarter worth approximately $284,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Noble in the third quarter worth approximately $435,000. 85.38% of the stock is owned by institutional investors and hedge funds.
Noble stock traded up $0.10 during trading hours on Tuesday, reaching $3.43. The stock had a trading volume of 3,720,019 shares, compared to its average volume of 4,477,541. The firm has a market cap of $846.50 million, a PE ratio of -3.01 and a beta of 2.61. Noble has a 52 week low of $2.35 and a 52 week high of $7.44. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.83.
Noble (NYSE:NE) last announced its quarterly earnings results on Wednesday, October 31st. The oil and gas company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.02. The business had revenue of $279.41 million for the quarter, compared to analyst estimates of $263.19 million. Noble had a negative net margin of 79.51% and a negative return on equity of 8.26%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.36) EPS. As a group, sell-side analysts expect that Noble will post -1.84 earnings per share for the current fiscal year.
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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