Noble (NE) Given a $6.00 Price Target at Credit Suisse Group

Noble (NYSE:NE) received a $6.00 price objective from investment analysts at Credit Suisse Group in a research note issued to investors on Friday. The firm presently has a “hold” rating on the oil and gas company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 23.20% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Societe Generale raised Noble from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Friday, October 12th. Zacks Investment Research raised Noble from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Wednesday, August 1st. ValuEngine downgraded Noble from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 29th. Tudor Pickering raised Noble from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Noble in a research note on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. Noble has a consensus rating of “Hold” and an average target price of $6.24.

Shares of NYSE NE opened at $4.87 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -4.27 and a beta of 2.44. Noble has a 12 month low of $3.39 and a 12 month high of $7.44.

Noble (NYSE:NE) last released its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported ($0.43) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.02. Noble had a negative return on equity of 7.97% and a negative net margin of 79.51%. The company had revenue of $279.41 million during the quarter, compared to the consensus estimate of $263.19 million. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts predict that Noble will post -1.94 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. WealthTrust Axiom LLC increased its holdings in Noble by 7.4% in the 3rd quarter. WealthTrust Axiom LLC now owns 151,558 shares of the oil and gas company’s stock worth $1,065,000 after acquiring an additional 10,500 shares during the last quarter. Rhumbline Advisers increased its holdings in Noble by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 593,284 shares of the oil and gas company’s stock worth $3,755,000 after acquiring an additional 11,379 shares during the last quarter. Aperio Group LLC increased its holdings in Noble by 9.6% in the 3rd quarter. Aperio Group LLC now owns 156,697 shares of the oil and gas company’s stock worth $1,102,000 after acquiring an additional 13,757 shares during the last quarter. Welch & Forbes LLC purchased a new stake in Noble in the 3rd quarter worth about $115,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in Noble in the 2nd quarter worth about $229,000. 86.43% of the stock is owned by institutional investors.

Noble Company Profile

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, 2017, the company operated a fleet of 8 drill ships, 6 semisubmersibles, and 14 jack ups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.

Recommended Story: What Are Treasury Bonds?

Analyst Recommendations for Noble (NYSE:NE)

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.

Leave a Reply