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

Wall Street brokerages expect Noble Co. (NYSE:NE) to announce earnings of ($0.33) per share for the current quarter, according to Zacks. Seven analysts have made estimates for Noble’s earnings. The lowest EPS estimate is ($0.39) and the highest is ($0.30). Noble reported earnings of ($0.15) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 120%. The firm is expected to report its next earnings report after the market closes on Wednesday, February 21st.

On average, analysts expect that Noble will report full-year earnings of ($1.17) per share for the current financial year, with EPS estimates ranging from ($1.23) to ($1.12). For the next financial year, analysts expect that the company will post earnings of ($1.52) per share, with EPS estimates ranging from ($1.90) to ($1.24). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Noble.

A number of research analysts recently commented on NE shares. Zacks Investment Research lowered Noble from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Cowen set a $5.00 target price on Noble and gave the company a “hold” rating in a research note on Thursday, January 11th. Piper Jaffray Companies restated an “underweight” rating on shares of Noble in a research note on Thursday, January 11th. ValuEngine lowered Noble from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Finally, started coverage on Noble in a research note on Thursday, October 19th. They issued a “buy” rating and a $5.30 target price for the company. Eight investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $4.97.

Noble (NYSE NE) opened at $3.95 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market capitalization of $960.27, a price-to-earnings ratio of -0.54 and a beta of 2.22. Noble has a 12 month low of $3.14 and a 12 month high of $7.76.

A number of institutional investors have recently added to or reduced their stakes in NE. Cubist Systematic Strategies LLC acquired a new stake in shares of Noble in the third quarter valued at $102,000. Everence Capital Management Inc. bought a new position in Noble in the fourth quarter valued at about $127,000. Investors Research Corp bought a new position in Noble in the fourth quarter valued at about $138,000. Sanders Morris Harris LLC bought a new position in Noble in the third quarter valued at about $161,000. Finally, BlueCrest Capital Management Ltd boosted its holdings in 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 acquiring an additional 27,365 shares during the last quarter. Hedge funds and other institutional investors own 85.57% 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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