$272.54 Million in Sales Expected for Noble Co. (NE) This Quarter
Equities analysts expect Noble Co. (NYSE:NE) to report sales of $272.54 million for the current quarter, Zacks reports. Seven analysts have made estimates for Noble’s earnings, with the highest sales estimate coming in at $284.00 million and the lowest estimate coming in at $257.00 million. Noble posted sales of $410.16 million in the same quarter last year, which suggests a negative year over year growth rate of 33.6%. The company is expected to issue its next earnings report after the market closes on Wednesday, February 21st.
On average, analysts expect that Noble will report full-year sales of $272.54 million for the current year, with estimates ranging from $1.14 billion to $1.20 billion. For the next financial year, analysts anticipate that the business will post sales of $1.09 billion per share, with estimates ranging from $1.04 billion to $1.16 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Noble.
Noble (NYSE:NE) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.36) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.36). The business had revenue of $266.20 million for the quarter, compared to analyst estimates of $269.61 million. Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. The firm’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.23) earnings per share.
Shares of Noble (NYSE:NE) traded up $0.15 during mid-day trading on Friday, hitting $5.77. 10,661,064 shares of the stock were exchanged, compared to its average volume of 7,990,000. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $1,410.00, a price-to-earnings ratio of -0.79 and a beta of 2.34. Noble has a twelve month low of $3.14 and a twelve month high of $7.76.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC increased its holdings in Noble by 9.1% during the second quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock worth $176,000 after buying an additional 4,047 shares during the last quarter. California Public Employees Retirement System increased its holdings in Noble by 0.8% during the second quarter. California Public Employees Retirement System now owns 1,470,919 shares of the oil and gas company’s stock worth $5,325,000 after buying an additional 11,000 shares during the last quarter. California State Teachers Retirement System increased its holdings in Noble by 2.8% during the third quarter. California State Teachers Retirement System now owns 444,840 shares of the oil and gas company’s stock worth $2,046,000 after buying 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% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 69,700 shares of the oil and gas company’s stock worth $252,000 after buying an additional 14,590 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Noble by 3.6% during the third quarter. Rhumbline Advisers now owns 489,841 shares of the oil and gas company’s stock worth $2,253,000 after buying an additional 17,231 shares during the last quarter. Institutional investors and hedge funds own 86.80% of the company’s stock.
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Noble 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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