Analysts Expect Noble Corporation (NE) to Post -$0.33 EPS

Wall Street analysts expect that Noble Corporation (NYSE:NE) will announce earnings of ($0.33) per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Noble Corporation’s earnings. The highest EPS estimate is ($0.25) and the lowest is ($0.41). Noble Corporation posted earnings of ($0.15) per share in the same quarter last year, which suggests a negative year over year growth rate of 120%. The business is scheduled to announce its next earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Noble Corporation will report full-year earnings of ($1.17) per share for the current fiscal year, with EPS estimates ranging from ($1.31) to ($1.10). For the next fiscal year, analysts anticipate that the firm will report earnings of ($1.41) per share, with EPS estimates ranging from ($1.85) to ($1.11). Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Noble Corporation.

Noble Corporation (NYSE:NE) last issued its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share for the quarter, hitting the consensus estimate of ($0.36). Noble Corporation 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 for the quarter, compared to analyst estimates of $269.61 million. During the same quarter last year, the company earned ($0.23) EPS. The business’s quarterly revenue was down 30.9% on a year-over-year basis.

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada set a $5.00 target price on Noble Corporation and gave the stock a “hold” rating in a research report on Sunday, November 12th. UBS AG upgraded Noble Corporation from a “neutral” rating to a “buy” rating and raised their price target for the stock from $4.00 to $6.00 in a research note on Monday, September 25th. Zacks Investment Research upgraded Noble Corporation from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Wednesday, October 18th. Deutsche Bank AG assumed coverage on Noble Corporation in a research note on Tuesday, October 10th. They set a “hold” rating and a $4.00 price target on the stock. Finally, ValuEngine downgraded Noble Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have assigned a buy rating to the stock. Noble Corporation currently has a consensus rating of “Hold” and an average target price of $5.56.

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Shares of Noble Corporation (NYSE NE) traded up $0.09 during midday trading on Tuesday, hitting $4.13. The stock had a trading volume of 9,951,101 shares, compared to its average volume of 10,365,140. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.64. Noble Corporation has a 1-year low of $3.14 and a 1-year high of $8.37.

Several institutional investors and hedge funds have recently bought and sold shares of NE. Cubist Systematic Strategies LLC acquired a new position in Noble Corporation during the third quarter worth $102,000. HighTower Advisors LLC acquired a new position in Noble Corporation during the first quarter worth $139,000. Tudor Investment Corp ET AL raised its holdings in Noble Corporation by 126.1% during the first quarter. Tudor Investment Corp ET AL now owns 30,300 shares of the oil and gas company’s stock worth $188,000 after purchasing an additional 16,900 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Noble Corporation by 109.3% during the second quarter. Nisa Investment Advisors LLC now owns 31,400 shares of the oil and gas company’s stock worth $125,000 after purchasing an additional 16,400 shares during the last quarter. Finally, Pinebridge Investments L.P. acquired a new position in Noble Corporation during the second quarter worth $117,000. 91.71% of the stock is owned by institutional investors and hedge funds.

About Noble Corporation

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 Corporation (NYSE:NE)

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