Noble Co. PLC (NYSE:NE) Receives Consensus Rating of “Hold” from Analysts

Shares of Noble Co. PLC (NYSE:NE) have been given a consensus rating of “Hold” by the twenty-two ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $4.27.

Several equities research analysts have commented on the stock. Bank of America assumed coverage on shares of Noble in a research report on Monday, June 10th. They set an “underperform” rating and a $1.25 price target on the stock. HSBC set a $3.00 price target on shares of Noble and gave the stock a “buy” rating in a research report on Monday, July 15th. Barclays set a $3.00 price target on shares of Noble and gave the stock a “sell” rating in a research report on Friday, May 3rd. SEB Equities cut shares of Noble from a “buy” rating to a “sell” rating and cut their price target for the stock from $2.80 to $1.50 in a research report on Tuesday, June 18th. Finally, ValuEngine raised shares of Noble from a “sell” rating to a “hold” rating in a research report on Thursday.

Hedge funds have recently modified their holdings of the company. Hellman Jordan Management Co. Inc. MA acquired a new position in Noble in the 1st quarter valued at about $29,000. Evergreen Capital Management LLC acquired a new position in Noble in the 1st quarter valued at about $31,000. Actinver Wealth Management Inc. acquired a new position in Noble in the 4th quarter valued at about $36,000. Fiera Capital Corp acquired a new position in Noble in the 1st quarter valued at about $39,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Noble in the 1st quarter valued at about $50,000. 80.20% of the stock is currently owned by institutional investors.

NYSE:NE traded down $0.18 on Friday, hitting $1.85. 4,002,961 shares of the company’s stock were exchanged, compared to its average volume of 5,632,190. The business has a 50-day simple moving average of $1.84. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.77 and a current ratio of 0.77. Noble has a 52 week low of $1.50 and a 52 week high of $7.44. The stock has a market capitalization of $555.62 million, a P/E ratio of -1.01 and a beta of 2.51.

Noble (NYSE:NE) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.11. Noble had a negative net margin of 71.96% and a negative return on equity of 8.75%. The firm had revenue of $292.90 million for the quarter, compared to analysts’ expectations of $271.59 million. During the same period in the previous year, the firm posted ($0.49) EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Research analysts anticipate that Noble will post -1.73 earnings per share for the current 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, 2018, the company operated a fleet of 24 drilling rigs consisted of 8 drill ships, 4 semisubmersibles, and 12 jack ups.

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Analyst Recommendations for Noble (NYSE:NE)

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