Noble Corp drops on downbeat FY revenue forecast

Noble

23/02/2024 11:51

** Shares of offshore drilling contractor Noble Corporation
 NE.N  fall 4.2% to $42.31 premarket
    ** Co forecasts FY24 revenue between $2.55 bln to $2.70 bln;
below Wall Street view of $2.78 bln - LSEG data
    ** Q4 adj. EPS of 39 cents misses average analysts'
estimates of 58 cents
    ** Quarterly revenue drops to $643 mln from $697 mln in Q3
2023
    ** Board declares quarterly interim dividend of 40 cents/
share for Q1 2024
    ** 11 of 12 brokerages rate the stock "buy" or higher, one
"hold"; their median PT is $60
    ** In 2023, NE stock advanced ~28%

 (Reporting by Khushi Singh in Bengaluru)
 ((Khushi.Singh@thomsonreuters.com;))