Royal Bank Of Canada Analysts Give Noble Corporation (NE) a $5.00 Price Target

Royal Bank Of Canada set a $5.00 price target on Noble Corporation (NYSE:NE) in a research report sent to investors on Saturday. The brokerage currently has a hold rating on the oil and gas company’s stock.

NE has been the subject of a number of other research reports. Cowen and Company reaffirmed a hold rating and set a $3.00 price objective on shares of Noble Corporation in a research report on Tuesday, September 5th. Seaport Global Securities lowered Noble Corporation from a buy rating to a neutral rating and reduced their price objective for the company from $5.00 to $3.50 in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) raised Noble Corporation to a sell rating in a research report on Wednesday, August 9th. Sanford C. Bernstein lowered Noble Corporation from a market perform rating to an underperform rating and reduced their price objective for the company from $7.00 to $2.50 in a research report on Thursday, July 6th. Finally, Citigroup Inc. lowered Noble Corporation from a buy rating to a neutral rating and reduced their price objective for the company from $11.00 to $4.70 in a research report on Friday, June 16th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company. Noble Corporation presently has an average rating of Hold and a consensus target price of $5.80.

Noble Corporation (NYSE NE) opened at 4.03 on Friday. Noble Corporation has a 12 month low of $3.14 and a 12 month high of $8.37. The stock’s market cap is $986.96 million. The company’s 50 day moving average price is $3.86 and its 200 day moving average price is $4.26.

Noble Corporation (NYSE:NE) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.02. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. The company had revenue of $278.10 million during the quarter, compared to analyst estimates of $284.99 million. During the same quarter last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was down 68.9% on a year-over-year basis. Equities analysts forecast that Noble Corporation will post ($1.24) EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC purchased a new position in Noble Corporation during the second quarter valued at $192,000. BlueCrest Capital Management Ltd lifted its position in Noble Corporation by 179.0% during the second quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock valued at $154,000 after purchasing an additional 27,365 shares in the last quarter. State Street Corp lifted its position in Noble Corporation by 31.7% during the second quarter. State Street Corp now owns 22,444,196 shares of the oil and gas compa

NE has been the subject of a number of other research reports. Cowen and Company reaffirmed a hold rating and set a $3.00 price objective on shares of Noble Corporation in a research report on Tuesday, September 5th. Seaport Global Securities lowered Noble Corporation from a buy rating to a neutral rating and reduced their price objective for the company from $5.00 to $3.50 in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) raised Noble Corporation to a sell rating in a research report on Wednesday, August 9th. Sanford C. Bernstein lowered Noble Corporation from a market perform rating to an underperform rating and reduced their price objective for the company from $7.00 to $2.50 in a research report on Thursday, July 6th. Finally, Citigroup Inc. lowered Noble Corporation from a buy rating to a neutral rating and reduced their price objective for the company from $11.00 to $4.70 in a research report on Friday, June 16th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company. Noble Corporation presently has an average rating of Hold and a consensus target price of $5.80.

Noble Corporation (NYSE NE) opened at 4.03 on Friday. Noble Corporation has a 12 month low of $3.14 and a 12 month high of $8.37. The stock’s market cap is $986.96 million. The company’s 50 day moving average price is $3.86 and its 200 day moving average price is $4.26.

Noble Corporation (NYSE:NE) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.02. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. The company had revenue of $278.10 million during the quarter, compared to analyst estimates of $284.99 million. During the same quarter last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was down 68.9% on a year-over-year basis. Equities analysts forecast that Noble Corporation will post ($1.24) EPS for the current fiscal year.

WARNING: This story was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The original version of this story can be accessed at https://ledgergazette.com/2017/10/10/royal-bank-of-canada-analysts-give-noble-corporation-ne-a-5-00-price-target.html.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC purchased a new position in Noble Corporation during the second quarter valued at $192,000. BlueCrest Capital Management Ltd lifted its position in Noble Corporation by 179.0% during the second quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock valued at $154,000 after purchasing an additional 27,365 shares in the last quarter. State Street Corp lifted its position in Noble Corporation by 31.7% during the second quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock valued at $81,248,000 after purchasing an additional 5,405,697 shares in the last quarter. Gotham Asset Management LLC purchased a new position in Noble Corporation during the second quarter valued at $2,517,000. Finally, QCM Cayman Ltd. purchased a new position in Noble Corporation during the second quarter valued at $356,000. Institutional investors own 95.63% of the company’s stock.

About Noble Corporation

Noble Corporation is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 79 mobile offshore drilling units and one floating production storage and offloading unit (NYSE:NE) located globally.

Analyst Recommendations for Noble Corporation (NYSE:NE)

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