Noble (NE) Shares Gap Down to $2.79

Noble Co. PLC (NYSE:NE) gapped down prior to trading on Friday . The stock had previously closed at $2.87, but opened at $2.79. Noble shares last traded at $2.64, with a volume of 4986893 shares traded.

A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Noble from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. ValuEngine downgraded shares of Noble from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Capital One Financial downgraded shares of Noble from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 16th. Pareto Securities raised shares of Noble from a “hold” rating to a “buy” rating in a research report on Monday, January 28th. Finally, Barclays set a $3.00 target price on shares of Noble and gave the stock a “sell” rating in a research report on Wednesday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $5.73.

The company has a market capitalization of $688.54 million, a price-to-earnings ratio of -1.43 and a beta of 2.69. The company has a current ratio of 1.80, a quick ratio of 2.09 and a debt-to-equity ratio of 0.83.

Noble (NYSE:NE) last issued its quarterly earnings results on Wednesday, February 20th. 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. The business had revenue of $309.90 million for the quarter, compared to analysts’ expectations of $289.04 million. Noble had a negative net margin of 81.74% and a negative return on equity of 9.16%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.29) EPS. Analysts expect that Noble Co. PLC will post -1.67 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Capstone Financial Advisors Inc. purchased a new position in shares of Noble during the 4th quarter valued at $26,000. Creative Planning purchased a new position in shares of Noble during the 4th quarter valued at $27,000. Wetherby Asset Management Inc. purchased a new position in shares of Noble during the 4th quarter valued at $28,000. Actinver Wealth Management Inc. purchased a new position in shares of Noble during the 4th quarter valued at $36,000. Finally, Private Advisor Group LLC purchased a new position in shares of Noble during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

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Noble Company Profile (NYSE:NE)

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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