The stock of Noble Corporation Plc (NYSE:NE) increased by $1.2 on Wednesday to $51.84, up 2.37 percent. The last five days have seen an average of 735,827 shares of common stock traded. 29 times new highs were reached in the current year, with a gain of $13.77. The average number of shares traded over the last 20 days was 1,010,497, while the average volume over the last 50 days totaled 1,438,241.
NE stock dropped -0.21% since last month. On 08/23/23, the company’s shares reached a one-month low of $49.43. The stock touched a high of $53.50 on 08/11/23, after rallying from a low of $27.04 in 52 weeks. The price of NE stock has risen by 37.47% or $13.77 this year, reaching a new high 29 times. Still, the stock price is down -3.10% from the 52-week high.
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Insider Transactions
NE stock investors should be aware that Noble Corporation Plc (NE) stock had its last reported insider trading activity 84 days ago on Jun 07. On Jun 07, SVP, Marketing & Contracts Denton Blake sold 15,719 shares at $40.45 each. This transaction resulted in the insider making $635,834. On Jun 07, Kawaja Joey M sold 15,723 shares at a price of US$40.31. After the transaction, the insider now owns 0 shares. VP, CAO and Controller Campbell Laura D. had earlier sold 5,591 shares on Jun 01 for $40.03 a share. The transaction was completed for $223,808.
Valuation Metrics
Noble Corporation Plc (NE) has a trailing price-to-earnings (P/E) ratio of 20.57. Beta for the stock is 1.22. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 3.25, the price-to-book (PB) ratio of 1.92, and the price-to-cash flow ratio of 54.98.
Financial Health
For the three months ended June 30, Noble Corporation Plc’s quick ratio was 1.80, while its current ratio was 1.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 30 is 0.16, and the total debt to equity ratio is 0.16. As far as profitability goes, gross margin for the trailing twelve months is 37.10% percent. Noble Corporation Plc’s EBITDA margin for the year ended June 30 was 26.18%, whereas its operating margin stood at 18.20% for the same period. Based on annual data, it had gross profit of $228.77 million and revenue of $1.41 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. NE’s return on assets (ROA) during the last 12 months has been 7.70%. There was a 4.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 10.90%.
Earnings Surprise
According to Noble Corporation Plc’s quarterly financial report for the quarter that ended June 30. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $638.54 million, while revenues rose by 67.08% to $622.59 million. It was predicted that Noble Corporation Plc’s quarterly earnings would be $0.38, but it ended up being $0.45, beating the consensus by -15.60%. EBITDA was $149.46 million for the quarter. At the end of Noble Corporation Plc’s most recent quarter ended June 30, its liabilities totaled 1.48 billion, while its total debt was $585.39 million. Equity owned by shareholders amounts to $137.08 million.
Technical Picture
Here’s a quick look at Noble Corporation Plc’s (NE) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 55.33%, suggesting the stock is Neutral, with a 18.05% historical volatility rate.
The stochastic %K and %D were 34.61% and 26.11% respectively, while the average true range (ATR) was 1.35. Based on the 14-day stochastic reading of 50.34%, the RSI (14) reading is 56.17%. On the 9-day MACD Oscillator, the stock is at -0.02, and the 14-day reading is at -0.43.
Analyst Ratings
In its analyst report released on July 05, 2023, Citigroup began covering Noble Corporation Plc (NYSE: NE). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Noble Corporation Plc (NE) an Buy rating. NE is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 10 others recommend it as a buy.
What is NE’s price target for the next 12 months?
The current consensus forecast for the stock is between $52.00 and $72.00, with a median target price of $60.00. In analyzing these forecasts, the average price target given by analysts for Noble Corporation Plc (NE) is $61.82.
