Trade Report: Today: Analysts give average Rating of “Hold” to Noble Corp. (NE)

Today: Analysts give average Rating of “Hold” to Noble Corp. (NE)

Noble Corp. (NYSE:NE) has earned an average rating of “Hold” from the thirty-one analysts that are presently covering the stock. Eight investment analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $8.20.

Several analysts recently weighed in on the company. JPMorgan Chase & Co. restated a “sell” rating on shares of Noble Corp. in a research note on Friday, November 4th. Nomura restated a “sell” rating and issued a $4.00 price target on shares of Noble Corp. in a research note on Friday, November 4th. Zacks Investment Research upgraded Noble Corp. from a “sell” rating to a “hold” rating in a research note on Friday, October 21st. Vetr downgraded Noble Corp. from a “strong-buy” rating to a “buy” rating and set a $6.90 price target on the stock. in a research note on Wednesday, September 28th. Finally, BMO Capital Markets restated a “sell” rating on shares of Noble Corp. in a research note on Tuesday, November 8th.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Noble Corp. by 6.9% in the second quarter. Vanguard Group Inc. now owns 30,239,221 shares of the company’s stock worth $249,170,000 after buying an additional 1,947,799 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Noble Corp. by 56.4% in the second quarter. Dimensional Fund Advisors LP now owns 10,805,125 shares of the company’s stock worth $89,037,000 after buying an additional 3,897,284 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Noble Corp. by 11.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 10,233,433 shares of the company’s stock worth $64,880,000 after buying an additional 1,030,587 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Noble Corp. by 4.8% in the third quarter. BlackRock Fund Advisors now owns 9,737,179 shares of the company’s stock worth $61,734,000 after buying an additional 447,307 shares during the last quarter. Finally, State Street Corp increased its position in shares of Noble Corp. by 4.2% in the second quarter. State Street Corp now owns 8,028,403 shares of the company’s stock worth $66,143,000 after buying an additional 324,456 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Noble Corp. (NYSE:NE) traded up 0.17% during mid-day trading on Monday, reaching $5.73. The company’s stock had a trading volume of 3,908,335 shares. The company has a 50-day moving average price of $5.50 and a 200-day moving average price of $6.95. Noble Corp. has a 12-month low of $4.45 and a 12-month high of $13.90. The firm has a market cap of $1.39 billion, a PE ratio of 6.64 and a beta of 2.10.

Noble Corp. (NYSE:NE) last posted its earnings results on Thursday, November 3rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.04. Noble Corp. had a return on equity of 2.14% and a net margin of 7.90%. The firm had revenue of $385.20 million for the quarter, compared to analysts’ expectations of $646.42 million. During the same quarter last year, the company posted $0.72 EPS. The firm’s revenue was down 57.0% on a year-over-year basis. On average, equities research analysts expect that Noble Corp. will post ($0.07) earnings per share for the current year.

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