Royal Bank Of Canada Reiterates $5.00 Price Target for Noble Corporation (NE)

Royal Bank Of Canada set a $5.00 price objective on Noble Corporation (NYSE:NE) in a research note issued to investors on Sunday. The brokerage currently has a hold rating on the oil and gas company’s stock.

Other research analysts also recently issued research reports about the stock. Argus reaffirmed a sell rating and issued a $6.00 target price on shares of Noble Corporation in a research report on Friday, August 18th. Goldman Sachs Group, Inc. (The) raised shares of Noble Corporation to a sell rating in a research report on Wednesday, August 9th. Seaport Global Securities reissued a neutral rating on shares of Noble Corporation in a research report on Monday, August 7th. Jefferies Group LLC reissued a buy rating and issued a $5.50 price objective (down previously from $7.00) on shares of Noble Corporation in a research report on Tuesday, July 18th. Finally, ValuEngine downgraded shares of Noble Corporation from a sell rating to a strong sell rating in a research report on Tuesday, August 1st. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have assigned a buy rating to the stock. Noble Corporation has an average rating of Hold and a consensus target price of $5.56.

Noble Corporation (NYSE:NE) opened at $4.25 on Friday. Noble Corporation has a 12-month low of $3.14 and a 12-month high of $8.37. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58.

Noble Corporation (NYSE:NE) last released its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.36). The business had revenue of $266.20 million during the quarter, compared to the consensus estimate of $269.61 million. Noble Corporation had a negative net margin of 136.22% and a negative return on equity of 3.94%. The firm’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.23) earnings per share. research analysts expect that Noble Corporation will post -1.17 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Royal Bank Of Canada Reiterates $5.00 Price Target for Noble Corporation (NE)” was originally posted by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this article on another domain, it was copied illegally and republished in violation of international copyright & trademark laws. The correct version of this article can be read at https://transcriptdaily.com/2017/11/15/royal-bank-of-canada-reiterates-5-00-price-target-for-noble-corporation-ne.html.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in Noble Corporation by 37.6% in the 2nd quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock worth $117,253,000 after purchasing an additional 8,843,373 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Noble Corporation by 16.7% in the 2nd quarter. Vanguard Group Inc. now owns 23,523,527 shares of the oil and gas company’s stock valued at $85,155,000 after buying an additional 3,371,015 shares in the last quarter. State Street Corp raised its position in shares of Noble Corporation by 31.7% in the 2nd quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock valued at $81,248,000 after buying an additional 5,405,697 shares in the last quarter. Contrarius Investment Management Ltd raised its position in shares of Noble Corporation by 21.7% in the 3rd quarter. Contrarius Investment Management Ltd now owns 6,631,412 shares of the oil and gas company’s stock valued at $30,504,000 after buying an additional 1,184,494 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Noble Corporation by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,645,549 shares of the oil and gas company’s stock valued at $20,437,000 after buying an additional 145,172 shares in the last quarter. Institutional investors and hedge funds own 94.07% of the company’s stock.

Noble Corporation Company Profile

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.

Analyst Recommendations for Noble Corporation (NYSE:NE)

Receive News & Ratings for Noble Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply