Zacks: Analysts Expect Noble Co. PLC (NE) Will Announce Earnings of -$0.46 Per Share

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Brokerages predict that Noble Co. PLC (NYSE:NE) will announce earnings of ($0.46) per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Noble’s earnings. The lowest EPS estimate is ($0.52) and the highest is ($0.42). Noble posted earnings per share of ($0.31) in the same quarter last year, which would indicate a negative year-over-year growth rate of 48.4%. The company is scheduled to report its next quarterly earnings results on Thursday, August 2nd.

On average, analysts expect that Noble will report full-year earnings of ($1.86) per share for the current year, with EPS estimates ranging from ($2.10) to ($1.61). For the next fiscal year, analysts forecast that the business will report earnings of ($1.83) per share, with EPS estimates ranging from ($2.25) to ($1.44). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Noble.

Noble (NYSE:NE) last released its earnings results on Wednesday, May 2nd. The oil and gas company reported ($0.55) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.02. Noble had a negative net margin of 32.20% and a negative return on equity of 6.29%. The company had revenue of $235.16 million for the quarter, compared to the consensus estimate of $228.45 million. During the same quarter in the previous year, the company earned ($0.17) EPS. Noble’s quarterly revenue was down 35.2% compared to the same quarter last year.

NE has been the topic of a number of research reports. Susquehanna Bancshares set a $5.00 target price on shares of Noble and gave the company a “hold” rating in a research report on Friday, February 16th. Jefferies Financial Group set a $5.00 target price on shares of Noble and gave the company a “buy” rating in a research report on Friday, February 23rd. Seaport Global Securities set a $4.00 target price on shares of Noble and gave the company a “hold” rating in a research report on Monday, February 26th. Piper Jaffray Companies set a $3.00 target price on shares of Noble and gave the company a “sell” rating in a research report on Monday, February 26th. Finally, Argus upgraded shares of Noble from a “hold” rating to a “buy” rating in a research report on Tuesday, March 13th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $4.53.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zeke Capital Advisors LLC grew its stake in shares of Noble by 76.0% in the 1st quarter. Zeke Capital Advisors LLC now owns 27,118 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 11,711 shares in the last quarter. Matarin Capital Management LLC bought a new stake in shares of Noble in the 1st quarter worth $118,000. Ahrens Investment Partners LLC grew its stake in shares of Noble by 245.1% in the 1st quarter. Ahrens Investment Partners LLC now owns 35,200 shares of the oil and gas company’s stock worth $131,000 after acquiring an additional 25,000 shares in the last quarter. Investors Research Corp bought a new stake in shares of Noble in the 4th quarter worth $138,000. Finally, Element Capital Management LLC bought a new stake in shares of Noble in the 1st quarter worth $198,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Shares of Noble stock traded down $0.13 during trading on Thursday, reaching $5.45. 4,720,200 shares of the company traded hands, compared to its average volume of 6,368,318. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.68. Noble has a 1-year low of $3.14 and a 1-year high of $6.33. The company has a market capitalization of $1.45 billion, a PE ratio of -4.78 and a beta of 2.20.

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, 2017, the company operated a fleet of 8 drill ships, 6 semisubmersibles, and 14 jack ups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.

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Earnings History and Estimates for Noble (NYSE:NE)

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