Zacks: Analysts Expect Noble Co. (NE) to Announce -$0.18 EPS
Wall Street brokerages expect Noble Co. (NYSE:NE) to post earnings of ($0.18) per share for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Noble’s earnings. The highest EPS estimate is ($0.10) and the lowest is ($0.26). Noble reported earnings per share of $0.31 during the same quarter last year, which would indicate a negative year over year growth rate of 158.1%. The firm is scheduled to report its next earnings report after the market closes on Thursday, May 4th.
On average, analysts expect that Noble will report full-year earnings of ($1.25) per share for the current fiscal year, with EPS estimates ranging from ($1.75) to ($0.96). For the next financial year, analysts forecast that the business will report earnings of ($1.38) per share, with EPS estimates ranging from ($1.90) to ($0.90). Zacks’ EPS calculations are an average based on a survey of analysts that cover Noble.
Noble (NYSE:NE) last issued its quarterly earnings results on Thursday, February 9th. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07. The business had revenue of $410 million for the quarter, compared to analyst estimates of $399.02 million. The business’s revenue for the quarter was down 52.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share.
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NE has been the topic of a number of recent research reports. Credit Suisse Group AG set a $10.00 price objective on shares of Noble and gave the company a “buy” rating in a research note on Saturday, February 11th. Capital One Financial Corp. upgraded shares of Noble from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 17th. Seaport Global Securities upgraded shares of Noble from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 7th. Jefferies Group LLC upgraded shares of Noble from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Monday, January 30th. They noted that the move was a valuation call. Finally, Stephens restated an “equal weight” rating and issued a $7.00 price objective on shares of Noble in a research note on Friday, February 10th. Seven investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $7.84.
Noble (NYSE:NE) opened at 5.23 on Thursday. The company has a 50 day moving average price of $6.02 and a 200 day moving average price of $6.27. Noble has a 52-week low of $4.45 and a 52-week high of $12.19. The firm’s market capitalization is $1.28 billion.
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Several hedge funds have recently made changes to their positions in the stock. LS Investment Advisors LLC increased its stake in shares of Noble by 5.6% in the third quarter. LS Investment Advisors LLC now owns 15,695 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 834 shares during the period. Global Endowment Management LP acquired a new stake in shares of Noble during the third quarter valued at about $100,000. Acadian Asset Management LLC increased its stake in shares of Noble by 1,343.9% in the third quarter. Acadian Asset Management LLC now owns 16,114 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 14,998 shares during the period. Advisor Group Inc. increased its stake in shares of Noble by 112.7% in the third quarter. Advisor Group Inc. now owns 15,989 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 8,472 shares during the period. Finally, CAMG Solamere Management LLC acquired a new stake in shares of Noble during the fourth quarter valued at about $102,000. 91.66% of the stock is currently owned by institutional investors.
Noble Company Profile
Noble Corporation is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 79 mobile offshore drilling units and one floating production storage and offloading unit (NYSE:NE) located globally.
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