A correction may be in store for Noble Corporation (NYSE:NE) shares?

In the latest session, Noble Corporation (NYSE: NE) closed at 29.97 down -2.57% from its previous closing price of $30.76. In other words, the price has decreased by $-0.79 from its previous closing price. On the day, 1305521 shares were traded. NE reached its highest trading level at $31.42 during the session, while it also had its lowest trading level at $29.80.

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Ratios:

For a deeper understanding of Noble Corporation’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.90 and its Current Ratio is at 1.90. In the meantime, Its Debt-to-Equity ratio is 0.14 whereas as Long-Term Debt/Eq ratio is at 0.14.

Upgrades & Downgrades

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Sep 19 when PACIFIC INVESTMENT MANAGEMENT sold 106,303 shares for $31.85 per share. The transaction valued at 3,385,751 led to the insider holds 18,023,228 shares of the business.

PACIFIC INVESTMENT MANAGEMENT sold 193,697 shares of NE for $6,335,829 on Sep 16. The 10% Owner now owns 18,129,531 shares after completing the transaction at $32.71 per share. On Sep 12, another insider, PACIFIC INVESTMENT MANAGEMENT, who serves as the 10% Owner of the company, sold 119,826 shares for $33.55 each. As a result, the insider received 4,020,162 and left with 18,323,228 shares of the company.

Valuation Measures:

As of this moment, Noble’s Price-to-Earnings (P/E) ratio for their current fiscal year is 29.85, and their Forward P/E ratio for the next fiscal year is 7.76. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.28 while its Price-to-Book (P/B) ratio in mrq is 1.39.

Stock Price History:

Over the past 52 weeks, NE has reached a high of $38.59, while it has fallen to a 52-week low of $22.01. The 50-Day Moving Average of the stock is 30.16, while the 200-Day Moving Average is calculated to be 29.63.

Shares Statistics:

For the past three months, NE has traded an average of 1.09M shares per day and 1.87M over the past ten days. A total of 69.79M shares are outstanding, with a floating share count of 66.83M. Insiders hold about 0.33% of the company’s shares, while institutions hold 93.30% stake in the company. Shares short for NE as of Jul 14, 2022 were 4.85M with a Short Ratio of 4.61, compared to 4.24M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 7.46% and a Short% of Float of 12.15%.

Earnings Estimates

There are 4 different market analysts currently analyzing its stock. The consensus estimate for the next quarter is $0.33, with high estimates of $0.52 and low estimates of $-0.08.

Analysts are recommending an EPS of between $2.74 and $1.45 for the fiscal current year, implying an average EPS of $2. EPS for the following year is $3.6, with 5 analysts recommending between $5.24 and $1.72.

Revenue Estimates

A total of 5 analysts have provided revenue estimates for NE’s current fiscal year. The highest revenue estimate was $1.31B, while the lowest revenue estimate was $998M, resulting in an average revenue estimate of $1.14B. In the same quarter a year ago, actual revenue was $847.81M, up 34.80% from the average estimate. Based on 5 analysts’ estimates, the company’s revenue will be $1.65B in the next fiscal year. The high estimate is $2.52B and the low estimate is $1.05B. The average revenue growth estimate for next year is up 44.20% from the average revenue estimate for this year.