Noble Co. PLC (NYSE:NE) has received a consensus rating of “Hold” from the nineteen analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $6.18.
A number of brokerages recently issued reports on NE. Royal Bank of Canada upgraded shares of Noble from a “sector perform” rating to an “outperform” rating in a research report on Thursday, September 20th. Societe Generale upgraded shares of Noble from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Friday, October 12th. Zacks Investment Research upgraded shares of Noble from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research report on Wednesday, August 1st. Simmons upgraded shares of Noble from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $3.25 to $6.00 in a research report on Monday, October 1st. Finally, Nordea Equity Research upgraded shares of Noble from a “sell” rating to a “hold” rating in a research report on Friday, September 28th.
NE traded up $0.06 on Monday, hitting $4.17. 91,826 shares of the company were exchanged, compared to its average volume of 5,780,449. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.83. Noble has a fifty-two week low of $3.39 and a fifty-two week high of $7.44. The firm has a market capitalization of $1.01 billion, a P/E ratio of -3.64 and a beta of 2.45.
Noble (NYSE:NE) last released its quarterly earnings results on Wednesday, October 31st. The oil and gas company reported ($0.43) EPS for the quarter, beating the consensus estimate 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 quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.36) earnings per share. Analysts predict that Noble will post -1.84 EPS for the current year.
A number of hedge funds have recently made changes to their positions in NE. Welch & Forbes LLC acquired a new position in Noble during the 3rd quarter worth $115,000. First Mercantile Trust Co. grew its holdings in Noble by 210.1% during the 3rd 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Noble by 127.6% during the 3rd 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 in the last quarter. NumerixS Investment Technologies Inc acquired a new position in Noble during the 2nd quarter worth $229,000. Finally, Laurion Capital Management LP acquired a new position in Noble during the 2nd quarter worth $284,000. 86.62% of the stock is owned by institutional investors.
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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