Brokerages expect Noble Co. (NYSE:NE) to report earnings per share (EPS) of ($0.35) for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Noble’s earnings, with the lowest EPS estimate coming in at ($0.40) and the highest estimate coming in at ($0.30). Noble reported earnings of ($0.23) per share in the same quarter last year, which would indicate a negative year over year growth rate of 52.2%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, November 2nd.

According to Zacks, analysts expect that Noble will report full year earnings of ($1.18) per share for the current fiscal year, with EPS estimates ranging from ($1.31) to ($1.10). For the next year, analysts forecast that the business will report earnings of ($1.38) per share, with EPS estimates ranging from ($1.63) to ($1.11). Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Noble.

Noble (NYSE:NE) last announced its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.02. The business had revenue of $278.10 million for the quarter, compared to analysts’ expectations of $284.99 million. Noble had a negative return on equity of 3.19% and a negative net margin of 122.04%. The business’s revenue for the quarter was down 68.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS.

A number of analysts have recently weighed in on NE shares. Piper Jaffray Companies reaffirmed a “hold” rating and set a $2.85 price objective on shares of Noble in a research report on Sunday, October 22nd. Deutsche Bank AG assumed coverage on shares of Noble in a research note on Tuesday, October 10th. They set a “hold” rating and a $4.00 target price for the company. Royal Bank Of Canada set a $5.00 price objective on shares of Noble and gave the company a “hold” rating in a research note on Saturday, October 7th. Cowen and Company set a $3.00 price objective on shares of Noble and gave the company a “hold” rating in a research note on Wednesday, October 18th. Finally, UBS AG upgraded shares of Noble from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.00 to $6.00 in a research note on Monday, September 25th. Seven equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $5.56.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Noble by 37.6% during the 2nd quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock worth $117,253,000 after purchasing an additional 8,843,373 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Noble by 16.7% during the 2nd quarter. Vanguard Group Inc. now owns 23,523,527 shares of the oil and gas company’s stock worth $85,155,000 after purchasing an additional 3,371,015 shares in the last quarter. State Street Corp increased its stake in shares of Noble by 31.7% during the 2nd quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock worth $81,248,000 after purchasing an additional 5,405,697 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Noble by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,645,549 shares of the oil and gas company’s stock worth $20,437,000 after purchasing an additional 145,172 shares in the last quarter. Finally, Bridgewater Associates LP increased its stake in shares of Noble by 11.0% during the 2nd quarter. Bridgewater Associates LP now owns 4,043,232 shares of the oil and gas company’s stock worth $14,636,000 after purchasing an additional 401,362 shares in the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Shares of Noble (NE) traded up 0.415% during mid-day trading on Tuesday, reaching $4.117. The company’s stock had a trading volume of 1,917,887 shares. Noble has a one year low of $3.14 and a one year high of $8.37. The stock has a 50 day moving average of $4.08 and a 200-day moving average of $4.03. The stock’s market cap is $1.01 billion.

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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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Earnings History and Estimates for Noble (NYSE:NE)

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