Wall Street brokerages expect Noble Co. PLC (NYSE:NE) to report ($0.47) earnings per share for the current quarter, Zacks reports. Six analysts have issued estimates for Noble’s earnings, with estimates ranging from ($0.51) to ($0.43). Noble reported earnings per share of ($0.49) during the same quarter last year, which would indicate a positive year over year growth rate of 4.1%. The company is scheduled to report its next quarterly earnings report on Thursday, August 1st.
According to Zacks, analysts expect that Noble will report full year earnings of ($1.72) per share for the current financial year, with EPS estimates ranging from ($1.85) to ($1.50). For the next year, analysts anticipate that the business will report earnings of ($1.08) per share, with EPS estimates ranging from ($1.31) to ($0.70). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Noble.
Noble (NYSE:NE) last released its earnings results on Wednesday, May 1st. The oil and gas company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. The firm had revenue of $282.90 million for the quarter, compared to analyst estimates of $273.22 million. Noble had a negative return on equity of 8.75% and a negative net margin of 71.96%. Noble’s revenue was up 20.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.55) earnings per share.
NE has been the topic of a number of research analyst reports. Zacks Investment Research lowered Noble from a “buy” rating to a “hold” rating and set a $2.25 target price on the stock. in a report on Tuesday, June 11th. Goldman Sachs Group initiated coverage on Noble in a report on Sunday, March 10th. They set a “neutral” rating and a $3.50 target price on the stock. SEB Equities lowered Noble from a “buy” rating to a “sell” rating and lowered their target price for the stock from $2.80 to $1.50 in a report on Tuesday, June 18th. ValuEngine lowered Noble from a “hold” rating to a “sell” rating in a report on Thursday, June 13th. Finally, Barclays set a $3.00 target price on Noble and gave the stock a “sell” rating in a report on Friday, May 3rd. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $4.96.
A number of institutional investors and hedge funds have recently modified their holdings of NE. Capstone Financial Advisors Inc. acquired a new stake in Noble during the 4th quarter worth about $26,000. Hellman Jordan Management Co. Inc. MA acquired a new stake in Noble during the 1st quarter worth about $29,000. Actinver Wealth Management Inc. acquired a new stake in Noble during the 4th quarter worth about $36,000. Creative Planning acquired a new stake in Noble during the 4th quarter worth about $27,000. Finally, Evergreen Capital Management LLC acquired a new stake in Noble during the 1st quarter worth about $31,000. 80.91% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:NE traded up $0.08 during mid-day trading on Monday, reaching $1.87. 5,733,895 shares of the stock were exchanged, compared to its average volume of 5,404,548. The business’s fifty day moving average price is $1.96. The company has a market cap of $445.99 million, a price-to-earnings ratio of -1.02 and a beta of 2.65. Noble has a 1-year low of $1.50 and a 1-year high of $7.44. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.77.
Noble Company Profile
Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It provides contract drilling services using mobile offshore drilling units. As of December 31, 2018, the company operated a fleet of 24 drilling rigs consisted of 8 drill ships, 4 semisubmersibles, and 12 jack ups.
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