Noble (NYSE:NE) Shares Gap Down Following Weak Earnings

Key Points

• Noble shares fell 5.1% after the company reported a third-quarter loss of $0.57 per share, far below the $0.23 analyst consensus. Revenue of $728.76 million beat estimates but declined 8.6% year over year, with a reported $133 million tax bill contributing to the loss.
• Noble declared a quarterly dividend of $0.50 per share, or $2.00 annualized, representing an approximate 4.4% yield. However, its dividend payout ratio is elevated at 215.05%.
• Analyst sentiment remains cautious: Noble has an average “Hold” rating and a $45.29 price target, while the company also adjusted its full-year revenue guidance amid weaker underlying revenue.

Shares of Noble Corporation PLC (NYSE:NE - Get Free Report) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $47.81, but opened at $44.32. Noble shares last traded at $45.1070, with a volume of 291,998 shares traded.

The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.80). The company had revenue of $728.76 million during the quarter, compared to analyst estimates of $713.82 million. Noble had a return on equity of 1.93% and a net margin of 4.88%. The business's revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) earnings per share.

Noble Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Wednesday, November 25th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $2.00 dividend on an annualized basis and a yield of 4.4%. Noble's dividend payout ratio (DPR) is currently 215.05%.

Key Noble News

Here are the key news stories impacting Noble this week:

• Positive Sentiment: Noble declared a quarterly cash dividend of $0.50 per share, equivalent to $2.00 annually and a yield of approximately 4.2%. Shareholders of record on November 25 will receive payment on December 17, 2026. The dividend reinforces the company’s shareholder-return commitment. Noble Corporation Declares Fourth-Quarter Dividend
• Neutral Sentiment: Third-quarter revenue was $728.76 million, exceeding the $713.82 million analyst consensus. This revenue beat suggests operating demand remained relatively resilient despite challenging results elsewhere in the quarter. Noble Corporation Third-Quarter Earnings Results
• Negative Sentiment: Noble reported a $0.57-per-share loss, missing the approximately $0.23 consensus estimate by $0.80 and deteriorating from the prior-year period. The result was driven in part by a reported $133 million tax bill, turning the revenue beat into a deep loss. Noble Q3 2026 Earnings and Tax Charge
• Negative Sentiment: Revenue declined 8.6% year over year, while Noble adjusted its full-year revenue guidance. The combination of weaker underlying revenue, reduced outlook and the earnings miss creates near-term pressure despite the company’s dividend. Noble Swings to Third-Quarter Loss and Adjusts Guidance

Analysts Set New Price Targets

NE has been the subject of several recent analyst reports. Wall Street Zen cut shares of Noble from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Noble in a research report on Thursday. Susquehanna boosted their price target on shares of Noble from $40.00 to $44.00 and gave the company a "neutral" rating in a report on Monday, October 5th. Citigroup restated a "neutral" rating on shares of Noble in a report on Monday, September 7th. Finally, Barclays reduced their price target on shares of Noble from $55.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Noble currently has an average rating of "Hold" and an average price target of $45.29.

Institutional Investors Weigh In On Noble

Several hedge funds have recently bought and sold shares of NE. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Noble during the 2nd quarter valued at about $1,481,000. First Eagle Investment Management LLC increased its holdings in shares of Noble by 2.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 13,957,162 shares of the company's stock valued at $520,602,000 after purchasing an additional 395,316 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Noble in the 3rd quarter valued at about $1,099,000. State Street Corp increased its holdings in shares of Noble by 4.1% in the 2nd quarter. State Street Corp now owns 5,428,507 shares of the company's stock valued at $202,483,000 after purchasing an additional 215,799 shares during the period. Finally, Merrion Investment Management Co LLC purchased a new stake in shares of Noble in the third quarter worth approximately $1,252,000. 68.14% of the stock is owned by hedge funds and other institutional investors.

Noble Stock Down 5.1%

The business's 50-day moving average price is $44.41 and its 200-day moving average price is $43.96. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $7.24 billion, a PE ratio of 48.74 and a beta of 1.00.

About Noble

Noble Corporation plc NYSE: NE is an offshore drilling contractor that provides drilling services to the global oil and gas industry. The company operates a fleet of offshore drilling units, including drillships, semisubmersible rigs and jackup rigs, which are used to explore for and develop oil and natural gas reserves beneath the seabed.

Noble's services include contract drilling, well planning, project management and other related support services. Its drilling units are designed to operate in a range of offshore environments, including deepwater and harsh-environment locations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.