Noble Outperforms in 4Q, but Our Outlook Holds Firm; Maintaining FVE
No-moat Noble’s fourth-quarter drilling results finished higher than predicted, but our $2.90 fair value is unchanged. The blend of higher floater utilization and settlement payments pushed drilling revenue to $321 million, above our $263 million forecast. Taken together, Noble’s fourth quarter signaled marginal improvements for the driller. Credit facility extensions and repurchased debt eased interim liquidity constraints and pushed maturities past 2023. Further, measures were taken to reinfor...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.