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Noble Corp

Noble Corp PLC is an offshore drilling contractor for the oil and gas industry that provides contract drilling services to the international oil and gas industry with its fleet of mobile offshore drilling units. The company focuses on a high-specification fleet of floating and jackup rigs and the deployment of its drilling rigs in oil and gas basins around the world.

Noble

Noble Corp PLC

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Susquehanna analyst Charles Minervino maintains Noble Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) with a Neutral and lowers the price target from $40 to $38.

News

Price Target

Analyst Ratings

Susquehanna Maintains Neutral on Noble Corp, Lowers Price Target to $38

Evercore ISI Group analyst James West maintains Noble Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) with a Outperform and lowers the price target from $67 to $64.

Evercore ISI Group Maintains Outperform on Noble Corp, Lowers Price Target to $64

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Shares of oil and fossil fuel companies are trading higher following the US presidential election. Investors may be weighing the potential impact of Donald Trump's energy policies on the sector.

This authorization does not have a fixed expiration, and may be modified, suspended or discontinued at any time. The program does not obligate the Company to acquire any particular amount of shares.

Buybacks

Noble Corp Says Board Authorized On October 22 An Increased Share Repurchase Authorization Of Up To Additional $400M Of Stock

Guidance

Noble Corp Expects Q4 Total Revenue Of $850M - $890M, Adjusted EBITDA Of $275M - $305M

Noble Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) reported quarterly earnings of $0.58 per share which missed the analyst consensus estimate of $0.79 by 26.58 percent. The company reported quarterly sales of $800.55 million which beat the analyst consensus estimate of $742.59 million by 7.81 percent. This is a 14.78 percent increase over sales of $697.45 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Noble Corp Q3 2024 Adj EPS $0.58 Misses $0.79 Estimate, Sales $800.55M Beat $742.59M Estimate

Crude oil prices plummeted over 6% on Monday, approaching levels not seen since early October, as investors processed news of targeted <a href="https://www.benzinga.com/news/24/10/41567809/oil-etfs-plunge-premarket-after-israels-strikes-on-iran">Israeli airstrikes in Iran</a>.
U.S. energy stocks followed suit during premarket trading in New York, with sector ETFs posting sharp losses at the start of the week. 
Contracts on West Texas Intermediate (WTI) light crude, as tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), fell over 6% to around $67 per barrel on Monday morning, marking what could be the worst one-day drop since July 2022.
The sell-off followed Israeli airstrikes over the weekend that targeted military facilities in Iran but spared the country's oil infrastructure.
According to the Israel Defense Forces, the strikes were "targeted and precise," focusing on Iranian missile production and air defense installations. 
This measured response likely averted a deeper crisis in the oil market, as analysts warned that a broader assault on Iran's energy sector could have risked up to 1.7 million barrels per day (bpd) of Iranian crude exports and led to further regional destabilization. 
U.S. President Joe Biden had cautioned Israel against actions that would directly impact Iran's oil output, warning that such moves could prompt Tehran to retaliate by targeting oil shipping routes in the Middle East.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="503" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28085347/image-274-1024x503.png" alt="" class="wp-image-617043" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28085347/image-274-1024x503.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28085347/image-274-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28085347/image-274-768x377.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28085347/image-274-1536x754.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28085347/image-274.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Analysts Expect Oil Prices To Remain Under Pressure</h3>
Goldman Sachs analysts had previously estimated that a sustained 1 million bpd disruption to Iranian oil supply could have pushed Brent prices up by $10–$20 per barrel. 
With no immediate threat to Iran's oil exports, the bank's forecast for Brent reaching the mid-$80s by late 2025 now appears overly optimistic compared to the consensus view.
The restrained nature of Israel's actions has led some analysts to predict that oil prices will remain subdued, especially in light of broader market dynamics. 
Warren Patterson, head of commodity strategy at ING Group, highlighted that Israel's focused response leaves "the door open for de-escalation," which seems to be reflected in Monday&#8217;s price action.
"If we do see some de-escalation, it would allow fundamentals to dictate price direction once again," Patterson explained, adding that a projected market surplus in 2025 &#8220;would mean that oil prices are&nbsp;likely to remain under pressure.&#8221;
Ole Hansen, head of commodity strategy at Saxo Bank, indicated that crude prices have now retraced most of the gains made in early October, which were fueled by Chinese economic stimulus and concerns over potential disruptions to Iran's supply. Hansen pointed out that "sluggish demand" and the impending reintroduction of OPEC+ barrels could further weigh on oil prices.
<h3 class="wp-block-heading">China's Declining Demand, OPEC+ Production Decisions Add To Bearish Sentiment</h3>
On the demand side, Chinese consumption—accounting for roughly 15% of global oil demand—has been trending downward since May 2024
According to Pascal Devaux, an economist at BNP Paribas, this decline is tied not only to China's economic slowdown but also to structural changes within its energy sector. "Around 45% of new car registrations in China are for electric vehicles, either battery-powered or hybrid," Devaux said, underscoring the impact of the country's low-carbon transition on oil demand.
Capital Economics forecasts that if OPEC+ follows through on its plan to unwind voluntary production cuts initiated in October, an increase in oil supply combined with weak demand growth could drive prices lower throughout the remainder of 2024 and into 2025.
<h3 class="wp-block-heading">US Energy Stocks See Sharp Losses</h3>
Sector ETFs posted notable declines in early trading:
<ul>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), which tracks large-cap U.S. energy companies, was down 2.3% at the start of Monday's session. APA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), and Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>) all registered losses between 3% and 4%.</li>
</ul>
<ul>
<li>SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>), a broader measure of exploration and production stocks, slid 2.8%. Kosmos Energy Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOS#NYSE">KOS</a>) and Vital Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTLE#NYSE">VTLE</a>) are both down 4%.</li>
</ul>
<ul>
<li>VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) dropped 1.7%. Companies like ProPetro Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>), Liberty Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBRT#NYSE">LBRT</a>), and Noble Corporation plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) were hit particularly hard, each falling by about 4%.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41571526/exxon-shell-warren-buffett-backed-occidental-petroleum-and-other-oil-stocks-tumble-in-premarket-afte">Exxon, Shell, Warren Buffett-Backed Occidental Petroleum And Other Oil Stocks Tumble In Premarket After Israel&#8217;s Strikes On Iran</a></li>
</ul>
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Crude Oil Faces Steepest One-Day Drop In Over Two Years, Energy Stocks Plunge: Prices 'Are Likely To Remain Under Pressure,' Analyst Says

Noble Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) underwent analysis by 6 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $50.33, with a high estimate of $60.00 and a low estimate of $40.00. This current average has decreased by 10.65% from the previous average price target of $56.33. 
<img src="https://www.benzinga.com/files/images/story/2024/1729695642_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Noble Corp. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Eddie Kim</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$48.00</td>
<td>$54.00</td>
</tr>
<tr>
<td>Charles Minervino</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$40.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Eddie Kim</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$54.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Nikhil Gupta</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$45.00</td>
<td>$63.00</td>
</tr>
<tr>
<td>Eddie Kim</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$55.00</td>
<td>$59.00</td>
</tr>
<tr>
<td>Kurt Hallead</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$60.00</td>
<td>$60.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Noble Corp. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Noble Corp compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Noble Corp's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
For valuable insights into Noble Corp's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/NE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Noble Corp analyst ratings.</a>
<h2>Unveiling the Story Behind Noble Corp</h2>
Noble Corp PLC is an offshore drilling contractor for the oil and gas industry that provides contract drilling services to the international oil and gas industry with its fleet of mobile offshore drilling units. The company focuses on a high-specification fleet of floating and jackup rigs and the deployment of its drilling rigs in oil and gas basins around the world.
<h3>Noble Corp's Financial Performance</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Noble Corp's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 8.51%. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Energy sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 28.15%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Noble Corp's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 4.94%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Noble Corp's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.54% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Noble Corp's debt-to-equity ratio is below the industry average at 0.16, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
Breaking: Wall Street's Next Big Mover
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Glimpse Into The Expert Outlook On Noble Corp Through 6 Analysts

Barclays analyst Eddie Kim maintains Noble Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) with a Overweight and lowers the price target from $54 to $48.

Barclays Maintains Overweight on Noble Corp, Lowers Price Target to $48

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Guggenheim analyst Howard Ma downgraded the rating for Commvault Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVLT#NASDAQ">CVLT</a>) from Buy to Neutral. CommVault shares gained 0.7% to close at $163.91 on Monday. <a href="https://www.benzinga.com/quote/CVLT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc analyst Jeffrey Hammond downgraded Lennox International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LII#NYSE">LII</a>) from Overweight to Sector Weight. Lennox shares gained 0.4% to close at $606.64 on Monday. <a href="https://www.benzinga.com/quote/LII/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Benchmark analyst Kurt Hallead downgraded the rating for Noble Corporation plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) from Buy to Hold. Noble shares fell 2.7% to close at $34.92 on Monday. <a href="https://www.benzinga.com/quote/NE/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Mizuho analyst Anthony Crowdell downgraded American Water Works Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AWK#NYSE">AWK</a>) from Outperform to Neutral but raised the price target from $131 to $140. American Water Works shares gained 1.1% to close at $140.37 on Monday. <a href="https://www.benzinga.com/quote/AWK/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Macquarie analyst Robert Stein downgraded the rating for Arcadium Lithium plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>) from Outperform to Neutral and announced a $5.85 price target. Arcadium Lithium shares fell 0.4% to close at $5.54 on Monday. <a href="https://www.benzinga.com/quote/ALTM/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying LII stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="508" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15091542/image-115-1024x508.png" alt="" class="wp-image-596098" style="width:623px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15091542/image-115-1024x508.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15091542/image-115-300x149.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15091542/image-115-768x381.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15091542/image-115.png 1337w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read More: 
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<li><a href="https://www.benzinga.com/markets/24/10/41327296/jim-cramer-is-worried-about-this-plane-maker-says-palo-alto-is-a-good-one">Jim Cramer Is Worried About This Plane Maker, Says Palo Alto Is A &#8216;Good&#8217; One</a></li>
</ul>

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This Lennox International Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Tuesday

5 analysts have expressed a variety of opinions on Noble Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Noble Corp, presenting an average target of $50.8, a high estimate of $60.00, and a low estimate of $40.00. A decline of 10.56% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1728993734_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A clear picture of Noble Corp's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Charles Minervino</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$40.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Eddie Kim</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$54.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Nikhil Gupta</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$45.00</td>
<td>$63.00</td>
</tr>
<tr>
<td>Eddie Kim</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$55.00</td>
<td>$59.00</td>
</tr>
<tr>
<td>Kurt Hallead</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$60.00</td>
<td>$60.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Noble Corp. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Noble Corp compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Noble Corp's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Noble Corp's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/NE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Noble Corp analyst ratings.</a>
<h2>Discovering Noble Corp: A Closer Look</h2>
Noble Corp PLC is an offshore drilling contractor for the oil and gas industry that provides contract drilling services to the international oil and gas industry with its fleet of mobile offshore drilling units. The company focuses on a high-specification fleet of floating and jackup rigs and the deployment of its drilling rigs in oil and gas basins around the world.
<h3>Noble Corp: Delving into Financials</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Noble Corp's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 8.51%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Energy sector.
Net Margin: Noble Corp's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 28.15%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Noble Corp's ROE excels beyond industry benchmarks, reaching 4.94%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Noble Corp's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.54% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.16.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings For Noble Corp

Benchmark analyst Kurt Hallead downgrades Noble Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) from Buy to Hold.

Benchmark Downgrades Noble Corp to Hold

Susquehanna analyst Charles Minervino maintains Noble Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) with a Neutral and lowers the price target from $47 to $40.

Susquehanna Maintains Neutral on Noble Corp, Lowers Price Target to $40

Barclays analyst Eddie Kim maintains Noble Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) with a Overweight and lowers the price target from $55 to $54.

Barclays Maintains Overweight on Noble Corp, Lowers Price Target to $54

Across the recent three months, 4 analysts have shared their insights on Noble Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $51.75, a high estimate of $60.00, and a low estimate of $45.00. A negative shift in sentiment is evident as analysts have decreased the average price target by 10.39%. 
<img src="https://www.benzinga.com/files/images/story/2024/1726167621_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The standing of Noble Corp among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Nikhil Gupta</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$45.00</td>
<td>$63.00</td>
</tr>
<tr>
<td>Eddie Kim</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$55.00</td>
<td>$59.00</td>
</tr>
<tr>
<td>Kurt Hallead</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$60.00</td>
<td>$60.00</td>
</tr>
<tr>
<td>Charles Minervino</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$47.00</td>
<td>$49.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Noble Corp. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Noble Corp compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Noble Corp's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Noble Corp's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/NE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Noble Corp analyst ratings.</a>
<h2>Delving into Noble Corp's Background</h2>
Noble Corp PLC is an offshore drilling contractor for the oil and gas industry that provides contract drilling services to the international oil and gas industry with its fleet of mobile offshore drilling units. The company focuses on a high-specification fleet of floating and jackup rigs and the deployment of its drilling rigs in oil and gas basins around the world.
<h3>Understanding the Numbers: Noble Corp's Finances</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: Noble Corp displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 8.51%. This indicates a notable increase in the company's top-line earnings. When compared to others in the Energy sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Noble Corp's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 28.15% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Noble Corp's ROE excels beyond industry benchmarks, reaching 4.94%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 3.54%, the company showcases effective utilization of assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.16.
<h2>The Basics of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Outlook: Noble Corp Through The Eyes Of 4 Analysts

Citigroup analyst Nikhil Gupta maintains Noble Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) with a Buy and lowers the price target from $63 to $45.

Citigroup Maintains Buy on Noble Corp, Lowers Price Target to $45

Noble Corporation plc ("Noble", the "Company") (CSE:<a class="ticker" href="https://www.benzinga.com/stock/NOBLE#CSE">NOBLE</a>, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) today announces the completion of its acquisition of Diamond Offshore Drilling, Inc ("Diamond").&nbsp; This transaction enhances Noble's position as a leading offshore driller, creating the largest fleet of 7th generation dual-BOP drillships in the industry, and adding approximately $2 billion of backlog. Following completion of the acquisition of Diamond, the Company's board of directors has appointed Patrice Douglas from the Diamond board of directors to serve as a new director of Noble.
Noble has filed a form 8-K regarding the completion of the acquisition with the U.S. Securities and Exchange Commission, available at: <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4246179-1&amp;h=1133024503&amp;u=https%3A%2F%2Fbit.ly%2F3WhkDLD&amp;a=https%3A%2F%2Fbit.ly%2F3WhkDLD">https://bit.ly/3WhkDLD</a>.

CSE:NOBLE

Noble Corporation Announces Closing Of Diamond Acquisition; Updates Increase Noble's Current Backlog To $6.7B

Noble Corporation plc ("Noble") (CSE:<a class="ticker" href="https://www.benzinga.com/stock/NOBLE#CSE">NOBLE</a>, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) and Diamond Offshore Drilling, Inc. ("Diamond Offshore") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DO#NYSE">DO</a>) announced today the receipt of clearance from the Australia Competition &amp; Consumer Commission, in relation to the pending transaction between Noble and Diamond Offshore, which is the final required regulatory approval for the transaction. &nbsp;The parties expect to close the transaction on Wednesday September 4th, 2024.

Contracts

Noble Corp And Diamond Offshore Provide Update, Gets Clearance From The Australia Competition & Consumer Commission; The Parties Expect To Close The Transaction On Wednesday September 4th, 2024

Oil futures surged significantly on Monday morning, with West Texas Intermediate (WTI) light crude rising 3% to over $77 per barrel as of 9:00 a.m. ET, amid escalating geopolitical tensions in the Middle East and<a href="https://www.benzinga.com/markets/commodities"> fresh supply disruptions in Libya.</a>
This marks the third consecutive day of oil price gains after hitting their lowest levels since January on Wednesday, Aug. 21. With Monday&#8217;s increase, WTI has climbed more than 7% over the past three sessions, setting the stage for the strongest three-day rally since late March 2023.
What Happened: On Saturday, Aug. 24, the Iran-backed Lebanese militant group Hezbollah launched a large-scale assault against Israel, using rockets and drones in retaliation for the killing of senior Hezbollah commander Fuad Shukr by Israeli forces. The attack involved hundreds of rockets and at least 20 drones targeting various locations in northern Israel.
In response, Israel carried out airstrikes on multiple Hezbollah positions in southern Lebanon, hitting at least 17 sites in an effort to thwart further large-scale attacks. Israeli officials described these strikes as preemptive measures aimed at neutralizing Hezbollah&#8217;s capabilities.
The situation remained volatile on Sunday, with ongoing exchanges of fire, fueling concerns about a broader regional conflict. Israeli Prime Minister Benjamin Netanyahu warned that the strikes against Hezbollah are not &#8220;the end of the story.&#8221;
In Libya, the political and security environment has deteriorated sharply. The eastern government, a rival to the Tripoli-based administration, announced a halt to oil production and exports following a dispute over the leadership of the Central Bank, exacerbating the global supply concerns.
According to Reuters, Waha Oil Company, a subsidiary of the National Oil Corp and operator of a joint venture with ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), announced plans to cut crude production and warned that output could come to a complete stop due to protests and pressures.
Also Read: <a href="https://www.benzinga.com/news/earnings/24/08/40548945/temu-parent-pdd-posts-86-q2-topline-growth-stock-drops-after-ceo-flags-upcoming-challenges">Temu Parent PDD Posts 86% Q2 Topline Growth, Stock Drops After CEO Flags Upcoming Challenges</a>
Why It Matters: The recent rebound in equity markets after the early August selloff was largely driven by fading fears of a U.S. recession. 
Investors also responded positively to central bankers&#8217; signals of potential interest rate cuts, as confidence grew that inflation is moving closer to the 2% target. 
However, the sudden spike in crude oil prices, driven by supply concerns, could dampen the positive investor sentiment toward risk asset and curb further disinflationary gains in the economy. 
Market Reactions: Energy-related companies saw gains in Monday&#8217;s premarket trading. 
The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) rose over 1%. Companies in the oil services sector also benefited, with the VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) up 1.8%. Firms in the upstream market, tracked by the SPDR S&amp;P Oil &amp; Gas Exploration and Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>), were 1.3% higher.
Top premarket movers included: 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Chg %</td>
</tr>
<tr>
<td>Sitio Royalties Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STR#NYSE">STR</a>)</td>
<td>3.8%</td>
</tr>
<tr>
<td>Talos Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TALO#NYSE">TALO</a>)</td>
<td>2.9%</td>
</tr>
<tr>
<td>Transocean Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>)</td>
<td>2.7%</td>
</tr>
<tr>
<td>Petroleo Brasileiro SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBR#NYSE">PBR</a>)</td>
<td>2.2%</td>
</tr>
<tr>
<td>Helix Energy Solutions Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLX#NYSE">HLX</a>)</td>
<td>2.1%</td>
</tr>
<tr>
<td>Murphy Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUR#NYSE">MUR</a>)</td>
<td>1.8%</td>
</tr>
<tr>
<td>Noble Corporation plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>)</td>
<td>1.7%</td>
</tr>
<tr>
<td>EOG Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OEG#NYSE">OEG</a>)</td>
<td>1.7%</td>
</tr>
<tr>
<td>Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</td>
<td>1.5%</td>
</tr>
<tr>
<td>Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>)</td>
<td>1.5%</td>
</tr>
<tr>
<td>ConocoPhillips </td>
<td>1.4%</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
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Photo: Shutterstock

Macro Economic Events

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GPRE

Oil Prices Rally As Middle East Tensions Rise, Libya Warns Of Potential Production Halt: 10 Energy Stocks On The Move Monday

4 analysts have shared their evaluations of Noble Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $55.5, with a high estimate of $60.00 and a low estimate of $47.00. A decline of 2.63% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1723230034_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
The standing of Noble Corp among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Eddie Kim</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$55.00</td>
<td>$59.00</td>
</tr>
<tr>
<td>Kurt Hallead</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$60.00</td>
<td>$60.00</td>
</tr>
<tr>
<td>Charles Minervino</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$47.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Kurt Hallead</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$60.00</td>
<td>$60.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Noble Corp. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Noble Corp compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Noble Corp's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Noble Corp's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/NE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Noble Corp analyst ratings.</a>
<h2>Discovering Noble Corp: A Closer Look</h2>
Noble Corp PLC is an offshore drilling contractor for the oil and gas industry that provides contract drilling services to the international oil and gas industry with its fleet of mobile offshore drilling units. The company focuses on a high-specification fleet of floating and jackup rigs and the deployment of its drilling rigs in oil and gas basins around the world.
<h3>Noble Corp: Financial Performance Dissected</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Growth: Over the 3 months period, Noble Corp showcased positive performance, achieving a revenue growth rate of 8.51% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Energy sector.
Net Margin: Noble Corp's net margin excels beyond industry benchmarks, reaching 28.15%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Noble Corp's ROE excels beyond industry benchmarks, reaching 4.94%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Noble Corp's ROA stands out, surpassing industry averages. With an impressive ROA of 3.54%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.16.
<h2>What Are Analyst Ratings?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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