-$0.33 Earnings Per Share Expected for Noble Co. (NE) This Quarter

Brokerages expect Noble Co. (NYSE:NE) to post ($0.33) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Noble’s earnings, with the highest EPS estimate coming in at ($0.28) and the lowest estimate coming in at ($0.39). Noble reported earnings per share of ($0.15) during the same quarter last year, which would suggest a negative year over year growth rate of 120%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, February 21st.

On average, analysts expect that Noble will report full-year earnings of ($1.18) per share for the current year, with EPS estimates ranging from ($1.30) to ($1.13). For the next fiscal year, analysts forecast that the firm will post earnings of ($1.48) per share, with EPS estimates ranging from ($1.87) to ($1.24). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Noble.

Noble (NYSE:NE) last issued its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.36). Noble had a negative return on equity of 3.94% and a negative net margin of 136.22%. The business had revenue of $266.20 million during the quarter, compared to analysts’ expectations of $269.61 million. During the same period in the prior year, the firm posted ($0.23) EPS. Noble’s quarterly revenue was down 30.9% compared to the same quarter last year.

A number of equities research analysts recently weighed in on the company. Barclays set a $4.00 price target on Noble and gave the company a “hold” rating in a report on Tuesday, January 23rd. Zacks Investment Research raised Noble from a “sell” rating to a “hold” rating in a report on Monday, January 22nd. Piper Jaffray Companies reaffirmed an “underweight” rating on shares of Noble in a report on Thursday, January 11th. Cowen set a $5.00 price target on Noble and gave the company a “hold” rating in a report on Thursday, January 11th. Finally, Susquehanna Bancshares set a $5.00 price target on Noble and gave the company a “hold” rating in a report on Friday, January 12th. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have issued a buy rating to the stock. Noble currently has an average rating of “Hold” and a consensus price target of $5.36.

Shares of Noble (NYSE NE) opened at $5.04 on Monday. Noble has a twelve month low of $3.14 and a twelve month high of $7.76. The firm has a market capitalization of $1,230.00, a price-to-earnings ratio of -0.69 and a beta of 2.34. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.64.

Hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new position in Noble during the third quarter worth about $102,000. Pinebridge Investments L.P. bought a new position in Noble during the second quarter worth about $117,000. Sanders Morris Harris LLC bought a new position in Noble during the third quarter worth about $161,000. BlueCrest Capital Management Ltd lifted its holdings in Noble by 179.0% during the second quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock worth $154,000 after acquiring an additional 27,365 shares in the last quarter. Finally, OxFORD Asset Management LLP bought a new position in Noble during the third quarter worth about $219,000. Hedge funds and other institutional investors own 86.80% of the company’s stock.

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About Noble

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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