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Market Update (NYSE:NBL): Noble Energy Announces Successful Early Tender Results

[GlobeNewswire] – Noble Energy, Inc. today announced the early tender results for its previously announced tender offers to purchase up to approximately $1.4 billion aggregate principal amount of its 5.875% Senior Notes … Read more on this. Noble Energy, Inc. (NBL) , with a current value of $11.58B, began trading this morning at $26.13. Today’s price range has been between $25.80 and $27.25 per share with its 52-week range being $23.77 to $53.68. NBL shares are currently priced at 428.67x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.54x forward p/e ratio. And for income investors, the company pays shareholders $0.72 per share annually in dividends, yielding 2.79%. Consensus earnings for the current quarter by the 31 sell-side analysts covering the stock is an estimate of $-0.01 per share, which would be $0.38 better than the year-ago quarter and a $0.02 sequential increase. The full-year EPS estimate is $0.06 which would be a $2.30 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.05 Billion. If realized, that would be a 1.87% decrease over the year-ago quarter. In terms of ratings, Jefferies upgraded NBL from Hold to Buy (Sep 11, 2015). Previously, BofA/Merrill downgraded NBL from Buy to Neutral. Given all the information above, we should disclose to readers that the average price target is $41.17, which is 57.56% above than it opened this morning. See more in (NYSE:NBL) Similar Articles: Market Update: Noble Energy Inc (NYSE:NBL) – Noble Energy Enhances Financial Flexibility With Debt Refinancing Company Update (NYSE:NBL): Noble Energy Announces Filing of Registration Statement for Initial Public Offering of Noble Midstream Partners LP Company Update (NYSE:NBL): Noble Energy Announces Final Results of Exchange Offers
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