Brokerages Expect Cobalt International Energy, Inc. (CIE) Will Announce Earnings of -$1.64 Per Share
Brokerages predict that Cobalt International Energy, Inc. (NYSE:CIE) will report earnings of ($1.64) per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Cobalt International Energy’s earnings, with estimates ranging from ($2.27) to ($1.01). Cobalt International Energy reported earnings per share of ($2.70) during the same quarter last year, which indicates a positive year over year growth rate of 39.3%. The business is expected to report its next quarterly earnings results before the market opens on Tuesday, November 7th.
On average, analysts expect that Cobalt International Energy will report full year earnings of ($6.91) per share for the current fiscal year. For the next fiscal year, analysts anticipate that the company will post earnings of ($5.27) per share, with EPS estimates ranging from ($6.46) to ($4.08). Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Cobalt International Energy.
Cobalt International Energy (NYSE:CIE) last issued its quarterly earnings data 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 return on equity of 1,077.95% and a negative net margin of 7,253.08%. The business had revenue of $13.75 million during the quarter.
CIE has been the topic of a number of recent research reports. Zacks Investment Research lowered Cobalt International Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Cobalt International Energy in a research report on Friday, July 7th. Finally, Citigroup Inc. reiterated a “sell” rating and issued a $1.00 target price (down previously from $1.50) on shares of Cobalt International Energy in a research report on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Cobalt International Energy currently has a consensus rating of “Hold” and a consensus target price of $143.94.
Cobalt International Energy (CIE) opened at 0.98 on Monday. The stock has a 50 day moving average of $1.37 and a 200 day moving average of $2.89. Cobalt International Energy has a 52 week low of $0.92 and a 52 week high of $21.89. The company’s market cap is $28.94 million.
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A number of large investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co. NY lifted its holdings in Cobalt International Energy by 1.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 303,916 shares of the energy producer’s stock valued at $162,000 after acquiring an additional 3,501 shares during the period. American International Group Inc. lifted its holdings in Cobalt International Energy by 7.0% in the first quarter. American International Group Inc. now owns 251,195 shares of the energy producer’s stock valued at $134,000 after acquiring an additional 16,490 shares during the period. OZ Management LP acquired a new position in Cobalt International Energy in the second quarter valued at approximately $150,000. LMR Partners LLP acquired a new position in Cobalt International Energy in the second quarter valued at approximately $170,000. Finally, GSA Capital Partners LLP acquired a new position in Cobalt International Energy in the second quarter valued at approximately $257,000. 79.79% of the stock is owned by institutional investors.
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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