Noble Corporation Plc (NYSE:NE) saw a downside of -1.41% to $50.97 after subtracting -$0.73 on Tuesday. The 5-day average trading volume is 1,330,994 shares of the company’s common stock. It has gained $53.38 in the past week and touched a new high 3 times within the past 5 days. An average of 1,438,364 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,605,001.
NE’s 1-month performance is 9.45% or $4.69 on its low of $45.57 reached on 07/10/23. The company’s shares have touched a 52-week low of $27.04 and high of $53.38, with the stock’s rally to the 52-week high happening on 08/04/23. YTD, NE has achieved 35.16% or $13.17 and has reached a new high 28 times. However, the current price is down -4.51% from the 52-week high price.
Insider Transactions
NE stock investors last saw insider trading activity on Jun 07.Denton Blake (SVP, Marketing & Contracts) most recently sold 15,719 shares at $40.45 per share on Jun 07. This transaction cost the insider $635,834. SVP, Operations, Kawaja Joey M, sold 15,723 shares at a price of $40.31 on Jun 07. Then, on Jun 01, VP, CAO and Controller Campbell Laura D. sold 5,591 shares at a price of $40.03 per share. This transaction amounted to $223,808.
Valuation Metrics
NE stock has a beta of 1.22. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.25 while the price-to-book (PB) in the most recent quarter is 1.85, with the price to cash flow ratio at 66.36.
Noble Corporation Plc’s quick ratio for the period ended June 29 was 1.90, with the current ratio over the same period at 1.90. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.14, while the total debt to equity was 0.14. In terms of profitability, the gross margin trailing 12 months is 37.10%. The trailing 12-month EBITDA margin is 26.18% while for the period ending June 29, Noble Corporation Plc’s operating margin was 10.10%. The firm’s gross profit as reported stood at $228.77 million against revenue of $1.41 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 155.7% to $65.82 million, while revenue of $134.96 million was -105.04% off the previous quarter. Analysts expected NE to announce $0.45 per share in earnings in its latest quarter, but it posted $0.38, representing a -15.60% surprise. EBITDA for the quarter stood at more than $149.46 million. NE stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 1.48 billion, with total debt at $585.39 million. Shareholders hold equity totaling $137.08 million.
Let’s look briefly at Noble Corporation Plc (NE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 51.65% to suggest the stock is trending Neutral, with historical volatility in this time period at 17.96%.
The stock’s 5-day moving average is $51.91, reflecting a -2.06% or -$1.07 change from its current price. NE is currently trading +6.53% above its 20-day SMA, +35.93% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +28.94% and SMA200 by+52.88%.
Stochastic %K and %D was 53.84% and 69.72% and the average true range (ATR) pointed at 1.59. The RSI (14) points at 59.03%, while the 14-day stochastic is at 35.73% with the period’s ATR at 1.57. The stock’s 9-day MACD Oscillator is pointing at -0.18 and -0.02 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Noble Corporation Plc (NYSE: NE), Citigroup launched coverage with a Buy rating. Analysts offering their rating for NE stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate NE as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 10 have offered a “buy” rating.
What is NE’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $52.00 and a high of $65.00, with their median price target at $60.00. Looking at these predictions, the average price target given by analysts is for Noble Corporation Plc (NE) stock is $60.20.
