Guggenheim Starts Stock Coverage on Noble Corp (NE)

By admin | 6 years ago

Investment analysts at Guggenheim began coverage on shares of Noble Corp (NYSE: NE) in a note issued to investors on Tuesday. The firm set a “buy” rating on the stock.

Noble Corp traded down 0.86% on Tuesday, hitting $33.33. Noble Corp has a 52-week low of $27.33 and a 52-week high of $42.48. The company has a market cap of $8.412 billion and a price-to-earnings ratio of 19.57.

Noble Corp last posted its quarterly earnings results on Wednesday, April 18th. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.42 by $0.05. Noble Corp’s revenue was up 37.8% compared to the same quarter last year. Analysts expect that Noble Corp will post $0.71 EPS next quarter.

A number of other analysts have also recently weighed in on NE. Analysts at Macquarie upgraded shares of Noble Corp from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, May 16th. Separately, analysts at FBR Capital (NASDAQ: FBCM) raised their price target on shares of Noble Corp from $55.00 to $61.00 in a research note to investors on Wednesday, April 11st. They now have an “outperform” rating on the stock.

Noble Corporation (Noble) is a offshore drilling contractor for the oil and gas industry. It performa contract drilling services with its fleet of 73 mobile offshore drilling units and one floating production storage and offloading unit (FPSO) located globally.

About the author