Wall Street brokerages expect Noble Co. (NYSE:NE) to announce earnings of ($0.46) per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Noble’s earnings, with estimates ranging from ($0.52) to ($0.39). Noble reported earnings per share of ($0.31) during the same quarter last year, which would suggest a negative year-over-year growth rate of 48.4%. The business is scheduled to issue its next earnings report on Thursday, August 2nd.

On average, analysts expect that Noble will report full year earnings of ($1.83) per share for the current year, with EPS estimates ranging from ($2.10) to ($1.61). For the next year, analysts anticipate that the company will report earnings of ($1.82) per share, with EPS estimates ranging from ($2.25) to ($1.44). Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Noble.

Noble (NYSE:NE) last issued its quarterly earnings results on Wednesday, May 2nd. The oil and gas company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $228.45 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was down 35.2% on a year-over-year basis.

A number of research analysts recently issued reports on NE shares. Zacks Investment Research downgraded shares of Noble from a “hold” rating to a “sell” rating in a research note on Tuesday, January 16th. Barclays set a $4.00 price target on shares of Noble and gave the stock a “hold” rating in a research note on Tuesday, January 23rd. ValuEngine downgraded shares of Noble from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Susquehanna Bancshares set a $5.00 price target on shares of Noble and gave the stock a “hold” rating in a research note on Friday, February 16th. Finally, Jefferies Group set a $5.00 price target on shares of Noble and gave the stock a “buy” rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. Noble currently has an average rating of “Hold” and a consensus target price of $4.41.

Noble stock traded up $0.09 during trading on Friday, reaching $5.65. The stock had a trading volume of 123,859 shares, compared to its average volume of 6,538,249. Noble has a 52-week low of $5.49 and a 52-week high of $5.61. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $1.33 billion, a P/E ratio of -4.96 and a beta of 2.16.

Several large investors have recently modified their holdings of the company. Zeke Capital Advisors LLC increased its holdings 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 valued at $101,000 after acquiring an additional 11,711 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Noble in the 3rd quarter valued at $102,000. Matarin Capital Management LLC acquired a new position in shares of Noble in the 1st quarter valued at $118,000. Everence Capital Management Inc. acquired a new position in shares of Noble in the 4th quarter valued at $127,000. Finally, Ahrens Investment Partners LLC increased its holdings 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 valued at $131,000 after acquiring an additional 25,000 shares during the period. Institutional investors and hedge funds own 86.82% of the company’s stock.

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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