Noble (NE) Given a $5.00 Price Target at Royal Bank of Canada

Royal Bank of Canada set a $5.00 price target on Noble (NYSE:NE) in a report published on Thursday. The firm currently has a hold rating on the oil and gas company’s stock.

A number of other equities analysts have also commented on NE. ValuEngine upgraded shares of Noble from a strong sell rating to a sell rating in a report on Friday, September 1st. Cowen reiterated a hold rating and set a $3.00 price target on shares of Noble in a report on Tuesday, September 5th. UBS upgraded shares of Noble from a neutral rating to a buy rating and lifted their price target for the stock from $4.00 to $6.00 in a report on Monday, September 25th. Deutsche Bank initiated coverage on shares of Noble in a report on Tuesday, October 10th. They issued a hold rating and a $4.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Noble from a hold rating to a buy rating and set a $4.50 target price on the stock in a report on Wednesday, October 18th. Six analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $5.62.

Shares of Noble (NYSE NE) traded up $0.17 during trading hours on Thursday, hitting $4.17. 12,651,200 shares of the stock were exchanged, compared to its average volume of 10,094,860. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.64. Noble has a 52 week low of $3.14 and a 52 week high of $7.80.

Noble (NYSE:NE) last issued its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) EPS for the quarter, hitting analysts’ consensus estimates of ($0.36). The company had revenue of $266.20 million for the quarter, compared to analyst estimates of $269.61 million. Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. Noble’s revenue was down 30.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.23) earnings per share. equities analysts anticipate that Noble will post -1.17 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of NE. Cubist Systematic Strategies LLC bought a new stake in shares of Noble during the third quarter worth about $102,000. Pinebridge Investments L.P. bought a new stake in shares of Noble during the second quarter worth about $117,000. BlueCrest Capital Management Ltd increased its position in shares of Noble by 179.0% during the second quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock worth $154,000 after acquiring an additional 27,365 shares in the last quarter. Sanders Morris Harris LLC bought a new stake in shares of Noble during the third quarter worth about $161,000. Finally, ProShare Advisors LLC increased its position in shares of Noble by 9.1% during the second quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock worth $176,000 after acquiring an additional 4,047 shares in the last quarter. 86.80% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Noble (NE) Given a $5.00 Price Target at Royal Bank of Canada” was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international copyright and trademark laws. The correct version of this report can be viewed at https://www.com-unik.info/2017/12/22/noble-ne-given-a-5-00-price-target-at-royal-bank-of-canada.html.

About Noble

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 (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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit