Wall Street brokerages forecast that Noble Corporation (NYSE:NE) will post sales of $260.83 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Noble Corporation’s earnings. The highest sales estimate is $268.40 million and the lowest is $255.72 million. Noble Corporation posted sales of $385.15 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 32.3%. The firm is scheduled to announce its next earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Noble Corporation will report full year sales of $260.83 million for the current financial year, with estimates ranging from $1.14 billion to $1.18 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.08 billion per share, with estimates ranging from $998.00 million to $1.17 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Noble Corporation.

Noble Corporation (NYSE:NE) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.02. The firm had revenue of $278.10 million during the quarter, compared to analyst estimates of $284.99 million. Noble Corporation had a negative net margin of 122.04% and a negative return on equity of 3.19%. The business’s revenue for the quarter was down 68.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.01 EPS.

Several analysts have recently commented on the stock. Cowen and Company restated a “hold” rating and set a $3.00 price objective on shares of Noble Corporation in a research report on Tuesday, September 5th. Seaport Global Securities downgraded shares of Noble Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $5.00 to $3.50 in a research report on Wednesday, June 21st. Goldman Sachs Group Inc upgraded shares of Noble Corporation to a “sell” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada upgraded shares of Noble Corporation from an “underperform” rating to a “sector perform” rating and set a $5.00 price objective on the stock in a research report on Friday, August 25th. Finally, Sanford C. Bernstein downgraded shares of Noble Corporation from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $7.00 to $2.50 in a research report on Thursday, July 6th. Seven equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $5.85.

Noble Corporation (NE) traded up 7.75% on Friday, hitting $4.45. 15,295,776 shares of the stock were exchanged. The firm’s market cap is $1.09 billion. The company has a 50-day moving average of $3.53 and a 200 day moving average of $4.43. Noble Corporation has a 12 month low of $3.14 and a 12 month high of $8.37.

Hedge funds have recently added to or reduced their stakes in the stock. Founders Capital Management boosted its stake in shares of Noble Corporation by 95.9% during the 2nd quarter. Founders Capital Management now owns 30,270 shares of the oil and gas company’s stock worth $110,000 after purchasing an additional 14,820 shares during the period. Pinebridge Investments L.P. purchased a new position in shares of Noble Corporation during the 2nd quarter worth about $117,000. Teacher Retirement System of Texas boosted its stake in shares of Noble Corporation by 16.8% during the 1st quarter. Teacher Retirement System of Texas now owns 19,601 shares of the oil and gas company’s stock worth $121,000 after purchasing an additional 2,816 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Noble Corporation by 109.3% during the 2nd 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 period. Finally, Brave Asset Management Inc. boosted its stake in shares of Noble Corporation by 40.0% during the 2nd quarter. Brave Asset Management Inc. now owns 35,000 shares of the oil and gas company’s stock worth $127,000 after purchasing an additional 10,000 shares during the period. 95.64% of the stock is owned by hedge funds and other institutional investors.

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Noble Corporation Company Profile

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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