Noble Corporation (NE) Posts Earnings Results, Meets Estimates

Noble Corporation (NYSE:NE) issued its quarterly earnings results on Thursday. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.36), Bloomberg Earnings reports. Noble Corporation had a negative net margin of 136.22% and a negative return on equity of 3.90%. The business had revenue of $266.20 million for the quarter, compared to analyst estimates of $269.61 million. During the same period in the previous year, the business posted ($0.23) earnings per share. The business’s revenue was down 30.9% compared to the same quarter last year.

Shares of Noble Corporation (NYSE:NE) traded down $0.02 during mid-day trading on Friday, reaching $4.09. 7,320,000 shares of the company traded hands, compared to its average volume of 6,622,764. Noble Corporation has a 1 year low of $3.14 and a 1 year high of $8.37. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.62.

A number of research analysts have recently issued reports on NE shares. Piper Jaffray Companies reiterated a “hold” rating and set a $2.85 price target on shares of Noble Corporation in a research note on Sunday, October 22nd. Deutsche Bank AG initiated coverage on shares of Noble Corporation in a report on Tuesday, October 10th. They set a “hold” rating and a $4.00 price objective on the stock. Royal Bank Of Canada set a $5.00 price objective on shares of Noble Corporation and gave the stock a “hold” rating in a report on Saturday, October 7th. Cowen and Company set a $3.00 price objective on shares of Noble Corporation and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, Zacks Investment Research downgraded shares of Noble Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $5.56.

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Noble Corporation Company Profile

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.

Earnings History for Noble Corporation (NYSE:NE)

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