Noble (NYSE:NE) issued its earnings results on Wednesday. The oil and gas company reported ($0.36) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.05, Bloomberg Earnings reports. Noble had a negative return on equity of 8.26% and a negative net margin of 79.51%. The company had revenue of $309.90 million during the quarter, compared to the consensus estimate of $289.04 million. During the same quarter in the prior year, the business earned ($0.29) earnings per share. The company’s revenue was down 6.0% compared to the same quarter last year.
NE stock traded up $0.16 on Wednesday, reaching $3.31. The company’s stock had a trading volume of 6,858,899 shares, compared to its average volume of 3,940,664. Noble has a 52 week low of $2.35 and a 52 week high of $7.44. The firm has a market capitalization of $787.70 million, a price-to-earnings ratio of -2.90 and a beta of 2.69. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.09 and a quick ratio of 2.09.
Several equities research analysts have recently weighed in on NE shares. Tudor Pickering raised Noble from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. Zacks Investment Research downgraded Noble from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Pareto Securities raised Noble from a “hold” rating to a “buy” rating in a research report on Monday, January 28th. ValuEngine upgraded Noble from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Finally, Capital One Financial cut Noble from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 16th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. Noble presently has a consensus rating of “Hold” and an average price target of $5.87.
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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.
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