Jefferies Group Comments on Noble Co.’s FY2017 Earnings (NE)

Noble Co. (NYSE:NE) – Research analysts at Jefferies Group raised their FY2017 EPS estimates for Noble in a report issued on Thursday. Jefferies Group analyst E. Royes now forecasts that the oil and gas company will post earnings of ($1.13) per share for the year, up from their previous estimate of ($1.14). Jefferies Group has a “Buy” rating and a $6.00 price target on the stock. Jefferies Group also issued estimates for Noble’s Q4 2017 earnings at ($0.31) EPS, FY2019 earnings at ($1.55) EPS, FY2020 earnings at ($0.90) EPS and FY2021 earnings at ($0.55) EPS.

Noble (NYSE:NE) last released its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.36). Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. The business had revenue of $266.20 million for the quarter, compared to the consensus estimate of $269.61 million. During the same period last year, the firm earned ($0.23) earnings per share. The company’s quarterly revenue was down 30.9% on a year-over-year basis.

NE has been the topic of several other reports. initiated coverage on shares of Noble in a research report on Thursday, October 19th. They set a “buy” rating and a $5.30 price objective on the stock. Zacks Investment Research upgraded shares of Noble from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research report on Wednesday, October 18th. UBS Group upgraded shares of Noble from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.00 to $6.00 in a research report on Monday, September 25th. Cowen set a $3.00 price objective on shares of Noble and gave the company a “hold” rating in a research report on Wednesday, October 18th. Finally, ValuEngine downgraded shares of Noble from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. Six equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Noble has an average rating of “Hold” and a consensus target price of $5.33.

Noble (NYSE:NE) opened at $5.15 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58. Noble has a 52-week low of $3.14 and a 52-week high of $7.80. The firm has a market cap of $1,300.00, a P/E ratio of -0.71 and a beta of 2.34.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC increased its holdings in Noble by 9.1% in the 2nd quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock valued at $176,000 after acquiring an additional 4,047 shares during the last quarter. California Public Employees Retirement System increased its holdings in Noble by 0.8% in the 2nd quarter. California Public Employees Retirement System now owns 1,470,919 shares of the oil and gas company’s stock valued at $5,325,000 after acquiring an additional 11,000 shares during the last quarter. California State Teachers Retirement System increased its holdings in Noble by 2.8% in the 3rd quarter. California State Teachers Retirement System now owns 444,840 shares of the oil and gas company’s stock valued at $2,046,000 after acquiring an additional 12,067 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Noble by 26.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 69,700 shares of the oil and gas company’s stock valued at $252,000 after acquiring an additional 14,590 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Noble by 3.6% in the 3rd quarter. Rhumbline Advisers now owns 489,841 shares of the oil and gas company’s stock valued at $2,253,000 after acquiring an additional 17,231 shares during the last quarter. 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.

Earnings History and Estimates for Noble (NYSE:NE)

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