Noble Corp Plc (NYSE: NE) has seen a decline in its stock price by -1.50 in relation to its previous close of 48.61. However, the company has experienced a 2.22% gain in its stock price over the last five trading sessions. Seeking Alpha reported 2023-11-01 that Noble Corporation Plc (NYSE:NE ) Q3 2023 Earnings Conference Call November 1, 2023 9:00 AM ET Company Participants Ian Macpherson – Vice President, Investor Relations Robert Eifler – President & Chief Executive Officer Richard Barker – Chief Financial Officer Blake Denton – Senior Vice President, Marketing & Contracts Conference Call Participants Eddie Kim – Barclays Kurt Hallead – Benchmark Gregory Lewis – BTIG Pelle Bibow – Clarksons Securities David Smith – Pickering Energy Partners Operator Thank you for standing by. My name is Bailey and I will be the conference operator today.
Is It Worth Investing in Noble Corp Plc (NYSE: NE) Right Now?
Noble Corp Plc (NYSE: NE) has a higher price-to-earnings ratio of 15.01x compared to its average ratio. compared to its average ratio and a 36-month beta value of 1.18. Analysts have mixed views on the stock, with 10 analysts rating it as a “buy,” 1 as “overweight,” 1 as “hold,” and 0 as “sell.”
The average price point forecasted by analysts for Noble Corp Plc (NE) is $63.80, which is $15.92 above the current market price. The public float for NE is 107.49M, and currently, short sellers hold a 5.21% ratio of that float. The average trading volume of NE on November 16, 2023 was 1.20M shares.
NE’s Market Performance
NE stock saw a decrease of 2.22% in the past week, with a monthly decline of -1.20% and a quarterly a decrease of -6.68%. The volatility ratio for the week is 2.92%, and the volatility levels for the last 30 days are 3.16% for Noble Corp Plc (NE). The simple moving average for the past 20 days is 0.50% for NE’s stock, with a 7.88% simple moving average for the past 200 days.
Analysts’ Opinion of NE
Many brokerage firms have already submitted their reports for NE stocks, with Citigroup repeating the rating for NE by listing it as a “Buy.” The predicted price for NE in the upcoming period, according to Citigroup is $64 based on the research report published on July 05, 2023 of the current year 2023.
NE Trading at -3.13% from the 50-Day Moving Average
After a stumble in the market that brought NE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -13.48% of loss for the given period.
Volatility was left at 3.16%, however, over the last 30 days, the volatility rate increased by 2.92%, as shares surge +0.40% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.70% lower at present.
During the last 5 trading sessions, NE rose by +2.22%, which changed the moving average for the period of 200-days by +17.67% in comparison to the 20-day moving average, which settled at $47.65. In addition, Noble Corp Plc saw 26.97% in overturn over a single year, with a tendency to cut further gains.
Reports are indicating that there were more than several insider trading activities at NE starting from ALTING CAROLINE, who sale 3,138 shares at the price of $51.96 back on Sep 05. After this action, ALTING CAROLINE now owns 1,553 shares of Noble Corp Plc, valued at $163,050 using the latest closing price.
Denton Blake, the SVP, Marketing & Contracts of Noble Corp Plc, sale 15,719 shares at $40.45 during a trade that took place back on Jun 07, which means that Denton Blake is holding 0 shares at $635,834 based on the most recent closing price.
Stock Fundamentals for NE
Current profitability levels for the company are sitting at:
- +15.79 for the present operating margin
- +21.60 for the gross margin
The net margin for Noble Corp Plc stands at +11.95. Equity return is now at value 17.36, with 12.21 for asset returns.
Based on Noble Corp Plc (NE), the company’s capital structure generated 19.97 points at debt to equity in total, while total debt to capital is 16.65. Total debt to assets is 13.76, with long-term debt to equity ratio resting at 14.88. Finally, the long-term debt to capital ratio is 12.41.
When we switch over and look at the enterprise to sales, we see a ratio of 2.69, with the company’s debt to enterprise value settled at 0.18. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.58.
To put it simply, Noble Corp Plc (NE) has had a mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.