Noble (NYSE:NE) Shares Gap Down to $1.82

Noble Co. PLC (NYSE:NE)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $1.86, but opened at $1.82. Noble shares last traded at $1.80, with a volume of 4,679,409 shares traded.

A number of equities research analysts recently issued reports on the stock. HSBC set a $3.00 target price on shares of Noble and gave the stock a “buy” rating in a research report on Monday, July 15th. ValuEngine upgraded shares of Noble from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. SEB Equities cut shares of Noble from a “buy” rating to a “sell” rating and dropped their target price for the stock from $2.80 to $1.50 in a research report on Tuesday, June 18th. 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 target price for the company. Finally, Zacks Investment Research cut shares of Noble from a “buy” rating to a “hold” rating and set a $2.25 target price for the company. in a research report on Tuesday, June 11th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. Noble presently has a consensus rating of “Hold” and a consensus price target of $4.39.

The business’s fifty day simple moving average is $1.61 and its 200 day simple moving average is $2.18. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. The stock has a market cap of $470.90 million, a P/E ratio of -0.98 and a beta of 2.59.



Noble (NYSE:NE) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.11. Noble had a negative net margin of 28.97% and a negative return on equity of 8.14%. The firm had revenue of $292.90 million for the quarter, compared to analyst estimates of $271.59 million. During the same quarter in the prior year, the firm earned ($0.49) EPS. The company’s revenue was up 13.4% on a year-over-year basis. On average, analysts predict that Noble Co. PLC will post -1.65 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Hellman Jordan Management Co. Inc. MA bought a new position in shares of Noble in the 1st quarter valued at about $29,000. Evergreen Capital Management LLC bought a new position in shares of Noble in the 1st quarter valued at about $31,000. Fiera Capital Corp bought a new position in shares of Noble in the 1st quarter valued at about $39,000. First Mercantile Trust Co. boosted its stake in shares of Noble by 32.0% in the 2nd quarter. First Mercantile Trust Co. now owns 36,362 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 8,816 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Noble by 40.2% in the 2nd quarter. LPL Financial LLC now owns 39,081 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 11,214 shares during the last quarter. 77.19% of the stock is currently owned by hedge funds and other institutional investors.

Noble Company Profile (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: What is the price-to-earnings growth (PEG) ratio?

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.