Noble Corporation Plc (NYSE: NE) is 6.05% higher on its value in year-to-date trading and has touched a low of $22.64 and a high of $45.50 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NE stock was last observed hovering at around $39.17 in the last trading session, with the day’s gains setting it 0.82% off its average median price target of $56.00 for the next 12 months. It is also 38.48% off the consensus price target high of $65.00 offered by 11 analysts, but current levels are 20.02% higher than the price target low of $50.00 for the same period.
Currently trading at $39.99, the stock is 7.39% and 4.75% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.45 million and changing 2.09% at the moment leaves the stock 9.51% off its SMA200. NE registered 19.98% gain for a year compared to 6-month gain of 8.14%. The firm has a 50-day simple moving average (SMA 50) of $2.87 and a 200-day simple moving average (SMA200) of $10.49.
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The stock witnessed a 5.65% loss in the last 1 month and extending the period to 3 months gives it a 5.13%, and is 6.41% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.99% over the week and 4.21% over the month.
Noble Corporation Plc (NE) has around 3800 employees, a market worth around $5.58B and $1.81B in sales. Current P/E ratio is 15.86 and Fwd P/E is 7.48. Profit margin for the company is 17.30%. Distance from 52-week low is 76.63% and -12.11% from its 52-week high. The company has generated returns on investments over the last 12 months (4.60%).
Noble Corporation Plc (NE) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Noble Corporation Plc (NE) is a “Buy”. 11 analysts offering their recommendations for the stock have an average rating of 1.70, where 1 rate it as a Hold and 1 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Noble Corporation Plc is expected to release its quarterly report on 08/03/2023.The EPS is expected to shrink by -66.80% this year
Noble Corporation Plc (NE) Top Institutional Holders
The shares outstanding are 134.75M, and float is at 69.65M with Short Float at 8.38%.
Noble Corporation Plc (NE) Insider Activity
A total of 26 insider transactions have happened at Noble Corporation Plc (NE) in the last six months, with sales accounting for 13 and purchases happening 13 times. The most recent transaction is an insider sale by PACIFIC INVESTMENT MANAGEMENT, the company’s 10% Owner. SEC filings show that PACIFIC INVESTMENT MANAGEMENT sold 334,313 shares of the company’s common stock on Nov 01 at a price of $35.80 per share for a total of $11.97 million. Following the sale, the insider now owns 12.42 million shares.
Noble Corporation Plc disclosed in a document filed with the SEC on Oct 31 that PACIFIC INVESTMENT MANAGEMENT (10% Owner) sold a total of 300,000 shares of the company’s common stock. The trade occurred on Oct 31 and was made at $35.77 per share for $10.73 million. Following the transaction, the insider now directly holds 12.75 million shares of the NE stock.
Still, SEC filings show that on Oct 28, PACIFIC INVESTMENT MANAGEMENT (10% Owner) disposed off 568,253 shares at an average price of $35.38 for $20.1 million. The insider now directly holds 13,054,735 shares of Noble Corporation Plc (NE).