FY2017 Earnings Forecast for Noble Co. Issued By Jefferies Group (NE)

Noble Co. (NYSE:NE) – Analysts at Jefferies Group upped their FY2017 earnings per share estimates for Noble in a report released on Wednesday. Jefferies Group analyst E. Royes now anticipates that the oil and gas company will post earnings of ($1.12) per share for the year, up from their prior estimate of ($1.13). Jefferies Group has a “Buy” rating and a $6.00 price objective on the stock. Jefferies Group also issued estimates for Noble’s Q4 2017 earnings at ($0.30) EPS, FY2018 earnings at ($1.60) EPS, FY2019 earnings at ($1.75) EPS and FY2020 earnings at ($1.10) EPS.

Several other research analysts have also issued reports on the stock. Royal Bank of Canada set a $5.00 target price on shares of Noble and gave the stock a “hold” rating in a research note on Thursday, December 21st. Zacks Investment Research lowered shares of Noble from a “hold” rating to a “sell” rating in a research note on Tuesday, January 16th. ValuEngine lowered shares of Noble from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Piper Jaffray Companies reissued a “hold” rating and set a $2.85 target price on shares of Noble in a research note on Sunday, October 22nd. Finally, started coverage on shares of Noble in a research note on Thursday, October 19th. They set a “buy” rating and a $5.30 target price on the stock. Eight analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. Noble currently has an average rating of “Hold” and a consensus target price of $5.24.

Noble (NYSE NE) opened at $4.03 on Friday. The stock has a market cap of $1,038.66, a price-to-earnings ratio of -0.55 and a beta of 2.21. Noble has a 12 month low of $3.14 and a 12 month high of $7.76. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.58 and a current ratio of 1.58.

Institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new position in shares of Noble in the third quarter valued at $102,000. Everence Capital Management Inc. purchased a new stake in shares of Noble in the fourth quarter valued at about $127,000. BlueCrest Capital Management Ltd raised its holdings in shares of Noble by 179.0% in the second quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock valued at $154,000 after purchasing an additional 27,365 shares during the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of Noble in the third quarter valued at about $161,000. Finally, ProShare Advisors LLC raised its holdings in shares of Noble by 9.1% in the second quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock valued at $176,000 after purchasing an additional 4,047 shares during the last quarter. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Earnings History and Estimates for Noble (NYSE:NE)

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