Noble Co. PLC (NYSE:NE) has been given an average rating of “Hold” by the nineteen research firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $3.79.
A number of brokerages recently weighed in on NE. Scotiabank set a $1.00 price objective on shares of Noble and gave the company a “hold” rating in a research note on Monday, August 26th. Bank of America began coverage on shares of Noble in a research note on Monday, June 10th. They set an “underperform” rating and a $1.25 price objective on the stock. Zacks Investment Research cut shares of Noble from a “buy” rating to a “hold” rating and set a $2.25 price objective on the stock. in a research note on Tuesday, June 11th. HSBC set a $3.00 price objective on shares of Noble and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, ValuEngine upgraded shares of Noble from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.
A number of institutional investors have recently modified their holdings of the business. Piedmont Investment Advisors Inc. grew its position in shares of Noble by 7.0% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 62,850 shares of the oil and gas company’s stock valued at $180,000 after buying an additional 4,123 shares during the last quarter. Comerica Bank raised its stake in Noble by 2.5% during the 1st quarter. Comerica Bank now owns 257,316 shares of the oil and gas company’s stock worth $770,000 after buying an additional 6,274 shares during the period. World Asset Management Inc raised its stake in Noble by 18.0% during the 2nd quarter. World Asset Management Inc now owns 45,695 shares of the oil and gas company’s stock worth $85,000 after buying an additional 6,978 shares during the period. Texas Permanent School Fund raised its stake in Noble by 4.6% during the 1st quarter. Texas Permanent School Fund now owns 168,866 shares of the oil and gas company’s stock worth $485,000 after buying an additional 7,367 shares during the period. Finally, First Mercantile Trust Co. raised its stake in Noble by 32.0% during the 2nd quarter. First Mercantile Trust Co. now owns 36,362 shares of the oil and gas company’s stock worth $68,000 after buying an additional 8,816 shares during the period. Hedge funds and other institutional investors own 77.19% of the company’s stock.
Noble (NYSE:NE) last released its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.11. The business had revenue of $292.90 million for the quarter, compared to the consensus estimate of $271.59 million. Noble had a negative net margin of 28.97% and a negative return on equity of 8.14%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.49) EPS. As a group, sell-side analysts predict that Noble will post -1.65 EPS for the current year.
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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