Noble (NYSE:NE – Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.80), Zacks reports. The firm had revenue of $728.76 million during the quarter, compared to the consensus estimate of $713.82 million. Noble had a return on equity of 1.93% and a net margin of 4.88%. During the same quarter in the previous year, the company posted ($0.13) EPS.
Noble Stock Up 0.7%
NYSE:NE traded up $0.32 on Monday, hitting $48.02. The stock had a trading volume of 1,815,742 shares, compared to its average volume of 1,636,897. Noble has a 1 year low of $27.67 and a 1 year high of $54.98. The firm’s fifty day simple moving average is $44.42 and its two-hundred day simple moving average is $44.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.91 and a current ratio of 1.91. The stock has a market cap of $7.67 billion, a P/E ratio of 51.63 and a beta of 1.00.
Analyst Ratings Changes
Several brokerages recently weighed in on NE. Susquehanna raised their price target on shares of Noble from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Fearnley Fonds raised Noble from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Weiss Ratings restated a “hold (c)” rating on shares of Noble in a report on Thursday. Citigroup restated a “neutral” rating on shares of Noble in a report on Monday, September 7th. Finally, Barclays decreased their price target on Noble from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.29.
Get Our Latest Research Report on Noble
Noble Company Profile
Noble Corporation plc (NYSE: NE) is an offshore drilling contractor that provides drilling services to the global oil and gas industry. The company operates a fleet of offshore drilling units, including drillships, semisubmersible rigs and jackup rigs, which are used to explore for and develop oil and natural gas reserves beneath the seabed.
Noble’s services include contract drilling, well planning, project management and other related support services. Its drilling units are designed to operate in a range of offshore environments, including deepwater and harsh-environment locations.
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