-$0.46 EPS Expected for Noble Co. PLC (NE) This Quarter

Wall Street brokerages expect Noble Co. PLC (NYSE:NE) to announce ($0.46) earnings per share for the current quarter, Zacks reports. Seven analysts have made estimates for Noble’s earnings, with the lowest EPS estimate coming in at ($0.53) and the highest estimate coming in at ($0.38). Noble reported earnings of ($0.36) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 27.8%. The business is expected to announce its next quarterly earnings report on Thursday, November 1st.

On average, analysts expect that Noble will report full-year earnings of ($1.89) per share for the current year, with EPS estimates ranging from ($2.00) to ($1.76). For the next financial year, analysts forecast that the firm will report earnings of ($1.76) per share, with EPS estimates ranging from ($1.95) to ($1.44). Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Noble.

Noble (NYSE:NE) last released its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported ($0.49) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.02). Noble had a negative net margin of 81.87% and a negative return on equity of 7.44%. The firm had revenue of $258.40 million during the quarter, compared to the consensus estimate of $256.02 million. During the same period in the prior year, the business earned ($0.32) EPS. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year.

A number of equities analysts have recently commented on NE shares. ValuEngine raised shares of Noble from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. Credit Suisse Group lowered shares of Noble from an “outperform” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research report on Wednesday, May 30th. Sanford C. Bernstein raised shares of Noble from an “underperform” rating to a “market perform” rating and set a $5.00 price target on the stock in a research report on Tuesday, June 5th. Jefferies Financial Group lowered shares of Noble from a “buy” rating to a “hold” rating and set a $5.00 price target on the stock. in a research report on Thursday, June 21st. Finally, Citigroup lifted their price target on shares of Noble from $4.70 to $5.90 and gave the company a “neutral” rating in a research report on Thursday, June 21st. Two 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 stock. The company has a consensus rating of “Hold” and a consensus price target of $5.11.

Noble opened at $6.10 on Monday, MarketBeat.com reports. Noble has a 12 month low of $3.14 and a 12 month high of $6.84. The company has a market capitalization of $1.47 billion, a PE ratio of -5.35 and a beta of 2.19. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.45 and a current ratio of 2.07.

Institutional investors have recently made changes to their positions in the company. Zeke Capital Advisors LLC grew its stake in shares of Noble by 76.0% in the first 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 during the last quarter. Matarin Capital Management LLC acquired a new stake in shares of Noble in the first quarter worth $118,000. Ahrens Investment Partners LLC grew its stake in shares of Noble by 245.1% in the first 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 during the last quarter. LMR Partners LLP acquired a new stake in shares of Noble in the second quarter worth $317,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Noble in the second quarter worth $330,000. Institutional investors and hedge funds own 82.42% 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.

Further Reading: What does earnings per share mean?

Get a free copy of the Zacks research report on Noble (NE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Noble (NYSE:NE)

Receive News & Ratings for Noble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply