Noble (NYSE:NE) Shares Gap Down to $1.21

Shares of Noble Co. PLC (NYSE:NE) gapped down before the market opened on Thursday . The stock had previously closed at $1.05, but opened at $1.21. Noble shares last traded at $1.08, with a volume of 204,875 shares.

A number of equities analysts recently commented on the stock. Barclays set a $3.00 price target on shares of Noble and gave the stock a “sell” rating in a research note on Friday, May 3rd. SEB Equities cut shares of Noble from a “buy” rating to a “sell” rating and dropped their price target for the stock from $2.80 to $1.50 in a research note on Tuesday, June 18th. ValuEngine raised shares of Noble from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Bank of America assumed coverage on shares of Noble in a research note on Monday, June 10th. They set an “underperform” rating and a $1.25 price target for the company. Finally, Zacks Investment Research cut shares of Noble from a “buy” rating to a “hold” rating and set a $2.25 price target for the company. in a research note on Tuesday, June 11th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Noble presently has an average rating of “Hold” and an average target price of $4.65.

The business’s fifty day moving average is $1.81 and its two-hundred day moving average is $2.42. The company has a market cap of $298.98 million, a P/E ratio of -0.55 and a beta of 2.51. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 0.63.

Noble (NYSE:NE) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.34) earnings per share for the quarter, beating 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 company had revenue of $292.90 million during the quarter, compared to analyst estimates of $271.59 million. During the same quarter last year, the business posted ($0.49) EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts expect that Noble Co. PLC will post -1.69 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in NE. Hellman Jordan Management Co. Inc. MA bought a new stake in shares of Noble in the 1st quarter valued at about $29,000. Evergreen Capital Management LLC bought a new stake in shares of Noble in the 1st quarter valued at about $31,000. Fiera Capital Corp bought a new stake in shares of Noble in the 1st quarter valued at about $39,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Noble in the 1st quarter valued at about $50,000. Finally, Atria Investments LLC bought a new stake in shares of Noble in the 2nd quarter valued at about $558,000. Institutional investors own 79.05% of the company’s stock.

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.

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