Noble Co. (NYSE:NE) was up 6.2% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $4.28 and last traded at $4.26. Approximately 4,601,261 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 8,151,207 shares. The stock had previously closed at $4.01.
The oil and gas company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.04. Noble had a negative return on equity of 3.94% and a negative net margin of 136.22%. The firm had revenue of $329.59 million during the quarter, compared to analysts’ expectations of $285.67 million. During the same period in the prior year, the firm posted ($0.15) earnings per share. The business’s quarterly revenue was down 19.6% compared to the same quarter last year.
Several research analysts recently commented on NE shares. Royal Bank of Canada set a $5.00 price target on Noble and gave the company a “hold” rating in a research report on Thursday, December 21st. Susquehanna Bancshares set a $5.00 price target on Noble and gave the company a “hold” rating in a research report on Friday, February 16th. Zacks Investment Research cut Noble from a “hold” rating to a “sell” rating in a research report on Tuesday, January 16th. ValuEngine cut Noble from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Finally, Barclays set a $4.00 price target on Noble and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Eight analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $4.97.
The stock has a market cap of $982.32, a price-to-earnings ratio of -0.58 and a beta of 2.22. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58.
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Noble 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.
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