Equities analysts expect that Noble Co. (NYSE:NE) will report earnings per share of ($0.32) for the current quarter, Zacks reports. Seven analysts have made estimates for Noble’s earnings. The highest EPS estimate is ($0.30) and the lowest is ($0.36). Noble posted earnings of ($0.15) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 113.3%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, February 21st.
According to Zacks, analysts expect that Noble will report full year earnings of ($1.16) per share for the current financial year, with EPS estimates ranging from ($1.19) to ($1.12). For the next year, analysts anticipate that the firm will report earnings of ($1.52) per share, with EPS estimates ranging from ($1.90) to ($1.24). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Noble.
A number of research analysts have commented on the company. Susquehanna Bancshares set a $5.00 price objective on Noble and gave the company a “hold” rating in a report on Friday. Zacks Investment Research lowered Noble from a “hold” rating to a “sell” rating in a report on Monday, February 5th. ValuEngine lowered Noble from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Barclays set a $4.00 price objective on Noble and gave the company a “hold” rating in a report on Tuesday, January 23rd. Finally, Cowen set a $5.00 price objective on Noble and gave the company a “hold” rating in a report on Thursday, January 11th. Eight analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $4.97.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Noble during the 3rd quarter worth $102,000. Everence Capital Management Inc. acquired a new stake in shares of Noble during the 4th quarter worth $127,000. Investors Research Corp bought a new stake in shares of Noble during the 4th quarter worth $138,000. Sanders Morris Harris LLC bought a new stake in shares of Noble during the 3rd quarter worth $161,000. Finally, BlueCrest Capital Management Ltd lifted its position in shares of Noble by 179.0% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock worth $154,000 after buying an additional 27,365 shares during the last quarter. 85.57% of the stock is currently owned by institutional investors.
Noble (NYSE:NE) opened at $4.10 on Thursday. 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 firm has a market capitalization of $1,004.36, a P/E ratio of -0.56 and a beta of 2.21. Noble has a 1-year low of $3.14 and a 1-year high of $7.39.
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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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