Noble Corporation (NE) Expected to Post Earnings of -$0.34 Per Share

Wall Street analysts expect Noble Corporation (NYSE:NE) to post earnings per share of ($0.34) for the current quarter, according to Zacks. Four analysts have issued estimates for Noble Corporation’s earnings, with estimates ranging from ($0.39) to ($0.27). Noble Corporation reported earnings per share of $0.01 during the same quarter last year, which would indicate a negative year over year growth rate of 3,500%. The business is scheduled to issue its next earnings report on Wednesday, July 26th.

According to Zacks, analysts expect that Noble Corporation will report full year earnings of ($1.23) per share for the current year, with EPS estimates ranging from ($1.39) to ($1.12). For the next fiscal year, analysts expect that the company will post earnings of ($1.38) per share, with EPS estimates ranging from ($1.65) to ($1.20). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Noble Corporation.

Noble Corporation (NYSE:NE) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. The company had revenue of $363 million for the quarter, compared to analyst estimates of $368.25 million. Noble Corporation had a negative net margin of 65.11% and a negative return on equity of 1.69%. Noble Corporation’s revenue was down 40.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share.

Several brokerages have weighed in on NE. Nomura raised shares of Noble Corporation from a “reduce” rating to a “neutral” rating and set a $5.00 price target for the company in a research report on Thursday, May 18th. Instinet raised shares of Noble Corporation from a “reduce” rating to a “neutral” rating and increased their price target for the company from $4.35 to $5.00 in a research report on Thursday, May 18th. Jefferies Group LLC set a $7.00 price target on shares of Noble Corporation and gave the company a “buy” rating in a research report on Wednesday, May 24th. Deutsche Bank AG increased their price target on shares of Noble Corporation from $6.00 to $7.00 and gave the company a “hold” rating in a research report on Monday, May 8th. Finally, Scotiabank reissued a “hold” rating and set a $8.00 price target on shares of Noble Corporation in a research report on Wednesday, March 22nd. Six investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $6.51.

A number of hedge funds have recently made changes to their positions in NE. World Asset Management Inc raised its stake in shares of Noble Corporation by 1.4% in the first quarter. World Asset Management Inc now owns 21,981 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 295 shares during the period. Advantus Capital Management Inc raised its stake in shares of Noble Corporation by 3.6% in the first quarter. Advantus Capital Management Inc now owns 31,328 shares of the oil and gas company’s stock valued at $194,000 after buying an additional 1,098 shares during the period. Amalgamated Bank raised its stake in shares of Noble Corporation by 3.1% in the first quarter. Amalgamated Bank now owns 38,373 shares of the oil and gas company’s stock valued at $238,000 after buying an additional 1,140 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Noble Corporation by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 85,384 shares of the oil and gas company’s stock valued at $529,000 after buying an additional 1,200 shares during the period. Finally, State Treasurer State of Michigan raised its stake in shares of Noble Corporation by 1.5% in the first quarter. State Treasurer State of Michigan now owns 99,400 shares of the oil and gas company’s stock valued at $615,000 after buying an additional 1,500 shares during the period. Institutional investors own 99.03% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This article was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this article on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.chaffeybreeze.com/2017/07/30/noble-corporation-ne-expected-to-post-earnings-of-0-34-per-share-updated-updated-updated.html.

Shares of Noble Corporation (NYSE NE) traded down 4.885% during trading on Friday, hitting $3.719. 4,796,081 shares of the stock were exchanged. The firm’s market capitalization is $909.98 million. The stock’s 50 day moving average price is $4.09 and its 200 day moving average price is $5.75. Noble Corporation has a 52 week low of $3.35 and a 52 week high of $8.98. Noble Corporation also saw some unusual options trading activity on Tuesday. Stock traders bought 423 put options on the stock. This is an increase of approximately 541% compared to the typical daily volume of 66 put options.

Noble Corporation 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.

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

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

Earnings History and Estimates for Noble Corporation (NYSE:NE)

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

Latest News

Leave a Reply