Zacks: Brokerages Anticipate Cobalt International Energy, Inc. (CIE) to Post -$1.15 Earnings Per Share
Wall Street analysts predict that Cobalt International Energy, Inc. (NYSE:CIE) will report earnings per share (EPS) of ($1.15) for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Cobalt International Energy’s earnings. The highest EPS estimate is ($1.01) and the lowest is ($1.28). Cobalt International Energy posted earnings of ($2.70) per share during the same quarter last year, which suggests a positive year over year growth rate of 57.4%. The company is expected to announce its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Cobalt International Energy will report full-year earnings of ($5.11) per share for the current financial year. For the next financial year, analysts forecast that the business will post earnings of ($5.50) per share, with EPS estimates ranging from ($6.92) to ($4.08). Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Cobalt International Energy.
Cobalt International Energy (NYSE:CIE) last released its earnings results on Tuesday, August 8th. The energy producer reported ($2.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.60) by ($0.79). Cobalt International Energy had a negative net margin of 7,253.08% and a negative return on equity of 1,077.95%. The company had revenue of $13.75 million during the quarter.
A number of analysts have recently weighed in on CIE shares. Capital One Financial Corporation downgraded shares of Cobalt International Energy from an “equal weight” rating to an “underweight” rating in a report on Wednesday, June 21st. ValuEngine raised shares of Cobalt International Energy from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Cobalt International Energy in a report on Friday, July 7th. Citigroup Inc. reaffirmed a “sell” rating and set a $1.00 price target (down previously from $1.50) on shares of Cobalt International Energy in a report on Saturday, July 22nd. Finally, Zacks Investment Research raised shares of Cobalt International Energy from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The company has an average rating of “Hold” and an average target price of $160.25.
Cobalt International Energy (NYSE CIE) traded down 4.10% during midday trading on Tuesday, hitting $1.17. 552,220 shares of the company traded hands. Cobalt International Energy has a 12-month low of $1.17 and a 12-month high of $21.89. The stock’s 50-day moving average price is $1.67 and its 200 day moving average price is $3.43. The company’s market capitalization is $34.55 million.
Institutional investors have recently modified their holdings of the company. KCG Holdings Inc. lifted its holdings in shares of Cobalt International Energy by 314.6% during the 1st quarter. KCG Holdings Inc. now owns 228,718 shares of the energy producer’s stock worth $122,000 after acquiring an additional 173,550 shares during the period. American International Group Inc. lifted its holdings in shares of Cobalt International Energy by 7.0% during the 1st quarter. American International Group Inc. now owns 251,195 shares of the energy producer’s stock worth $134,000 after acquiring an additional 16,490 shares during the period. OZ Management LP bought a new stake in shares of Cobalt International Energy during the 2nd quarter worth approximately $150,000. SG Americas Securities LLC bought a new stake in shares of Cobalt International Energy during the 1st quarter worth approximately $160,000. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Cobalt International Energy by 1.2% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 303,916 shares of the energy producer’s stock worth $162,000 after acquiring an additional 3,501 shares during the period. 79.78% of the stock is owned by institutional investors.
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About Cobalt International Energy
Cobalt International Energy, Inc is an independent exploration and production company. The Company has its operations focused in the deepwater United States Gulf of Mexico. The Company also has a non-operated interest in the Diaba Block offshore Gabon in West Africa. The Company’s exploration efforts in the United States Gulf of Mexico has resulted in four oil and natural gas discoveries including the North Platte, Shenandoah, Anchor and Heidelberg fields.
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