Noble Co. PLC (NE) Expected to Announce Quarterly Sales of $275.33 Million

Brokerages expect that Noble Co. PLC (NYSE:NE) will announce $275.33 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Noble’s earnings. The lowest sales estimate is $267.30 million and the highest is $284.30 million. Noble posted sales of $235.16 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.1%. The business is scheduled to report its next earnings results on Wednesday, May 1st.

On average, analysts expect that Noble will report full year sales of $1.09 billion for the current fiscal year, with estimates ranging from $1.06 billion to $1.15 billion. For the next financial year, analysts forecast that the firm will report sales of $1.25 billion, with estimates ranging from $1.12 billion to $1.38 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Noble.

Noble (NYSE:NE) last released its quarterly earnings data on Wednesday, February 20th. The oil and gas company reported ($0.36) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.05. Noble had a negative net margin of 81.74% and a negative return on equity of 9.16%. The firm had revenue of $309.90 million for the quarter, compared to the consensus estimate of $289.04 million. During the same period in the previous year, the company earned ($0.29) earnings per share. The company’s quarterly revenue was down 6.0% on a year-over-year basis.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Noble from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research report on Monday, December 17th. ValuEngine raised shares of Noble from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Pareto Securities raised shares of Noble from a “hold” rating to a “buy” rating in a report on Monday, January 28th. Capital One Financial cut shares of Noble from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 16th. Finally, Societe Generale downgraded Noble from a “buy” rating to a “hold” rating in a research note on Wednesday, December 19th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $5.58.

Several hedge funds have recently made changes to their positions in the company. Capstone Financial Advisors Inc. bought a new position in shares of Noble in the 4th quarter worth $26,000. Creative Planning bought a new position in shares of Noble in the 4th quarter worth $27,000. Wetherby Asset Management Inc. bought a new position in shares of Noble in the 4th quarter worth $28,000. Actinver Wealth Management Inc. bought a new position in shares of Noble in the 4th quarter worth $36,000. Finally, Private Advisor Group LLC bought a new position in shares of Noble in the 4th quarter worth $41,000. 87.65% of the stock is owned by institutional investors.

Shares of Noble stock traded up $0.02 during trading on Tuesday, reaching $2.87. The company’s stock had a trading volume of 5,670,383 shares, compared to its average volume of 4,730,781. The stock has a market cap of $713.78 million, a PE ratio of -1.56 and a beta of 2.68. Noble has a 52 week low of $2.35 and a 52 week high of $7.44. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.80 and a current ratio of 1.80.

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, 2018, the company operated a fleet of 24 drilling rigs consisted of 8 drill ships, 4 semisubmersibles, and 12 jack ups.

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Earnings History and Estimates for Noble (NYSE:NE)

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