Zacks: Brokerages Anticipate Cobalt International Energy, Inc. (CIE) to Post -$1.64 EPS

Equities research analysts forecast that Cobalt International Energy, Inc. (NYSE:CIE) will post earnings of ($1.64) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Cobalt International Energy’s earnings. The highest EPS estimate is ($1.01) and the lowest is ($2.26). Cobalt International Energy posted earnings per share of ($2.70) in the same quarter last year, which would indicate a positive year-over-year growth rate of 39.3%. The business is scheduled to issue its next earnings results on Tuesday, November 7th.

On average, analysts expect that Cobalt International Energy will report full-year earnings of ($9.14) per share for the current financial year. For the next financial year, analysts anticipate that the firm will report earnings of ($5.27) per share, with EPS estimates ranging from ($6.46) to ($4.08). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Cobalt International Energy.

Cobalt International Energy (NYSE:CIE) last issued its quarterly earnings results on Tuesday, August 8th. The energy producer reported ($2.39) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.79). Cobalt International Energy had a negative return on equity of 1,077.95% and a negative net margin of 7,253.08%. The business had revenue of $13.75 million during the quarter.

A number of research analysts recently commented on CIE shares. Zacks Investment Research cut Cobalt International Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Sanford C. Bernstein restated a “market perform” rating on shares of Cobalt International Energy in a research note on Friday, July 7th. Capital One Financial Corporation cut Cobalt International Energy from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, June 21st. Citigroup Inc. restated a “sell” rating and set a $1.00 price target (down from $1.50) on shares of Cobalt International Energy in a research note on Saturday, July 22nd. Finally, ValuEngine upgraded Cobalt International Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $160.25.

Shares of Cobalt International Energy (NYSE:CIE) opened at 1.064 on Tuesday. The stock has a 50 day moving average price of $1.62 and a 200 day moving average price of $3.40. Cobalt International Energy has a one year low of $1.05 and a one year high of $21.89. The stock’s market capitalization is $31.42 million.

Several institutional investors have recently bought and sold shares of the company. Proxima Capital Management LLC increased its position in shares of Cobalt International Energy by 8.5% during the first quarter. Proxima Capital Management LLC now owns 4,800,000 shares of the energy producer’s stock worth $2,560,000 after acquiring an additional 375,000 shares during the period. Bank of New York Mellon Corp increased its position in shares of Cobalt International Energy by 5.4% during the first quarter. Bank of New York Mellon Corp now owns 2,104,313 shares of the energy producer’s stock worth $1,123,000 after acquiring an additional 107,589 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Cobalt International Energy by 10.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,471,488 shares of the energy producer’s stock worth $785,000 after acquiring an additional 141,822 shares during the period. California Public Employees Retirement System increased its position in shares of Cobalt International Energy by 36.7% during the first quarter. California Public Employees Retirement System now owns 1,059,900 shares of the energy producer’s stock worth $565,000 after acquiring an additional 284,700 shares during the period. Finally, Cobalt Capital Management Inc. purchased a new stake in shares of Cobalt International Energy during the first quarter worth $325,000. 79.78% of the stock is currently owned by institutional investors and hedge funds.

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Cobalt International Energy Company Profile

Cobalt International Energy, Inc is an independent exploration and production company. The Company has its operations focused in the deepwater United States Gulf of Mexico. The Company also has a non-operated interest in the Diaba Block offshore Gabon in West Africa. The Company’s exploration efforts in the United States Gulf of Mexico has resulted in four oil and natural gas discoveries including the North Platte, Shenandoah, Anchor and Heidelberg fields.

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Earnings History and Estimates for Cobalt International Energy (NYSE:CIE)

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