Market Update: Noble Energy Inc (NYSE:NBL) – Noble Energy Enhances Financial Flexibility With Debt Refinancing

[GlobeNewswire] – Noble Energy, Inc. today announced a series of transactions, consisting of a new term loan and cash tender offers for certain outstanding notes, which collectively enhance its financial flexibility. Noble … Read more on this. Noble Energy, Inc. (NBL) , currently valued at $13.49B, started trading this morning at $32.72. Shares have traded today between $31.53 and $32.72 per share with the price of the stock fluctuating between $29.13 to $53.68 over the last 52 weeks. Noble Energy (NBL) shares are currently priced at 420.63x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 2.79x earnings multiple for the same period. And for income investors, the company pays shareholders $0.72 per share annually in dividends, yielding 2.19%. In a review of the consensus earnings estimate this quarter, 32 sell-side analysts are looking at $0.02 per share, which would be $0.36 worse than the year-ago quarter and a $0.01 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $0.08, which would be a $2.28 worse when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.06 Billion. If realized, that would be a 0.93% decrease over the year-ago quarter. More recently, Jefferies upgraded NBL from Hold to Buy (Sep 11, 2015). Previously, BofA/Merrill downgraded NBL from Buy to Neutral. The average price target for NBL shares by the analysts covering the stock is $44.14, which is 34.90% above where the stock opened this morning. See more in (NYSE:NBL) Similar Articles: Stock Update (NYSE:NBL): Noble Energy to Present at Upcoming Energy Conference 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 to Present at Upcoming Energy Conference
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