Noble (NE) Shares Gap Up to $2.39

Noble Co. PLC (NYSE:NE) shares gapped up prior to trading on Wednesday . The stock had previously closed at $2.44, but opened at $2.39. Noble shares last traded at $2.34, with a volume of 73439 shares changing hands.

Several research analysts have recently commented on the stock. ValuEngine cut shares of Noble from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Barclays set a $3.00 target price on shares of Noble and gave the stock a “sell” rating in a report on Wednesday, February 20th. Argus cut shares of Noble from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. Goldman Sachs Group started coverage on shares of Noble in a report on Sunday, March 10th. They set a “neutral” rating and a $3.50 target price on the stock. Finally, Capital One Financial lowered shares of Noble from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 16th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. Noble currently has a consensus rating of “Hold” and an average target price of $5.58.

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $575.54 million, a PE ratio of -1.27 and a beta of 2.60.

Noble (NYSE:NE) last issued its earnings results on Wednesday, May 1st. The oil and gas company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. Noble had a negative net margin of 71.96% and a negative return on equity of 8.75%. The firm had revenue of $282.90 million for the quarter, compared to analyst estimates of $273.22 million. During the same quarter last year, the business posted ($0.55) earnings per share. The company’s quarterly revenue was up 20.3% on a year-over-year basis. Equities research analysts expect that Noble Co. PLC will post -1.72 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of NE. Capstone Financial Advisors Inc. acquired a new stake in Noble in the fourth quarter valued at approximately $26,000. Creative Planning bought a new position in shares of Noble during the fourth quarter valued at $27,000. Wetherby Asset Management Inc. bought a new position in shares of Noble during the fourth quarter valued at $28,000. Evergreen Capital Management LLC bought a new position in shares of Noble during the first quarter valued at $31,000. Finally, Actinver Wealth Management Inc. bought a new position in shares of Noble during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 86.53% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Noble (NE) Shares Gap Up to $2.39” was originally reported by Baseball Daily News and is the property of of Baseball Daily News. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.baseballdailydigest.com/news/2019/05/15/noble-ne-shares-gap-up-to-2-39.html.

About Noble (NYSE:NE)

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, 2018, the company operated a fleet of 24 drilling rigs consisted of 8 drill ships, 4 semisubmersibles, and 12 jack ups.

Further Reading: How Important is Technical Analysis of Stocks

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