Zacks: Analysts Anticipate Noble Co. (NE) to Post -$0.33 Earnings Per Share

Equities analysts expect Noble Co. (NYSE:NE) to announce ($0.33) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Noble’s earnings, with the lowest EPS estimate coming in at ($0.39) and the highest estimate coming in at ($0.30). Noble posted earnings per share of ($0.15) in the same quarter last year, which would suggest a negative year over year growth rate of 120%. The business is scheduled to announce its next earnings results after the market closes on Wednesday, February 21st.

On average, analysts expect that Noble will report full-year earnings of ($1.17) per share for the current financial year, with EPS estimates ranging from ($1.23) to ($1.12). For the next year, analysts anticipate that the company will report earnings of ($1.52) per share, with EPS estimates ranging from ($1.90) to ($1.24). Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Noble.

A number of analysts have recently commented on NE shares. Jefferies Group set a $6.00 target price on shares of Noble and gave the stock a “buy” rating in a research note on Thursday, January 4th. assumed coverage on shares of Noble in a research note on Thursday, October 19th. They set a “buy” rating and a $5.30 price objective for the company. Zacks Investment Research raised shares of Noble from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research note on Wednesday, October 18th. Cowen set a $5.00 price objective on shares of Noble and gave the company a “hold” rating in a research note on Thursday, January 11th. Finally, Susquehanna Bancshares set a $5.00 price objective on shares of Noble and gave the company a “hold” rating in a research note on Friday, January 12th. Eight research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $4.97.

Shares of Noble (NYSE:NE) opened at $3.95 on Thursday. The company has a market cap of $960.27, a PE ratio of -0.54 and a beta of 2.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.58 and a current ratio of 1.58. Noble has a one year low of $3.14 and a one year high of $7.76.

A number of large investors have recently bought and sold shares of the business. Deutsche Bank AG boosted its holdings in Noble by 45.5% in the 4th quarter. Deutsche Bank AG now owns 2,895,081 shares of the oil and gas company’s stock valued at $13,082,000 after purchasing an additional 905,521 shares during the last quarter. AMP Capital Investors Ltd acquired a new position in Noble in the 4th quarter valued at about $683,000. Renaissance Technologies LLC boosted its holdings in Noble by 141.6% in the 4th quarter. Renaissance Technologies LLC now owns 6,666,800 shares of the oil and gas company’s stock valued at $30,134,000 after purchasing an additional 3,906,800 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in Noble in the 4th quarter valued at about $542,000. Finally, Investors Research Corp acquired a new position in Noble in the 4th quarter valued at about $138,000. Institutional investors own 85.57% of the company’s stock.

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About Noble

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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Earnings History and Estimates for Noble (NYSE:NE)

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