-$0.33 EPS Expected for Noble Corporation (NE) This Quarter
Equities analysts predict that Noble Corporation (NYSE:NE) will announce earnings per share (EPS) of ($0.33) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Noble Corporation’s earnings, with estimates ranging from ($0.41) to ($0.25). Noble Corporation reported earnings of ($0.15) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 120%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 8th.
On average, analysts expect that Noble Corporation will report full year earnings of ($1.17) per share for the current financial 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 Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Noble Corporation.
Noble Corporation (NYSE:NE) last announced its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ 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 company had revenue of $266.20 million for the quarter, compared to analyst estimates of $269.61 million. During the same period in the prior year, the company posted ($0.23) EPS. The firm’s quarterly revenue was down 30.9% compared to the same quarter last year.
NE has been the topic of several recent analyst reports. ValuEngine lowered Noble Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Societe Generale lowered Noble Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Piper Jaffray Companies set a $4.00 price objective on Noble Corporation and gave the company a “hold” rating in a report on Monday, August 7th. Seaport Global Securities reissued a “neutral” rating on shares of Noble Corporation in a report on Monday, August 7th. Finally, Goldman Sachs Group, Inc. (The) raised Noble Corporation to a “sell” rating in a report on Wednesday, August 9th. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the company. Noble Corporation has an average rating of “Hold” and an average target price of $5.56.
Noble Corporation (NYSE NE) opened at $3.97 on Tuesday. Noble Corporation has a 1 year low of $3.14 and a 1 year high of $8.37. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Noble Corporation by 0.9% in the first quarter. Vanguard Group Inc. now owns 20,152,512 shares of the oil and gas company’s stock valued at $124,744,000 after acquiring an additional 188,754 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Noble Corporation by 112.0% in the second quarter. SG Americas Securities LLC now owns 330,546 shares of the oil and gas company’s stock valued at $1,197,000 after acquiring an additional 174,656 shares in the last quarter. River & Mercantile Asset Management LLP lifted its position in shares of Noble Corporation by 15.0% in the second quarter. River & Mercantile Asset Management LLP now owns 1,132,617 shares of the oil and gas company’s stock valued at $4,094,000 after acquiring an additional 147,797 shares in the last quarter. State Street Corp lifted its position in shares of Noble Corporation by 31.7% in the second quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock valued at $81,248,000 after acquiring an additional 5,405,697 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of Noble Corporation in the first quarter valued at approximately $139,000. Institutional investors and hedge funds own 91.71% of the company’s stock.
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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