-$0.45 EPS Expected for Noble Co. PLC (NE) This Quarter

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Equities analysts expect Noble Co. PLC (NYSE:NE) to announce earnings of ($0.45) per share for the current quarter, according to Zacks. Six analysts have made estimates for Noble’s earnings, with the highest EPS estimate coming in at ($0.33) and the lowest estimate coming in at ($0.50). Noble posted earnings of ($0.36) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 25%. The business is scheduled to report its next quarterly earnings report after the market closes on Wednesday, October 31st.

On average, analysts expect that Noble will report full year earnings of ($1.92) per share for the current financial year, with EPS estimates ranging from ($2.00) to ($1.82). For the next fiscal year, analysts expect that the firm will post earnings of ($1.68) per share, with EPS estimates ranging from ($1.97) to ($1.39). Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Noble.

Noble (NYSE:NE) last released its earnings results on Thursday, August 2nd. The oil and gas company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.02). Noble had a negative return on equity of 7.44% and a negative net margin of 81.87%. The firm had revenue of $258.40 million for the quarter, compared to analyst estimates of $256.02 million. During the same period last year, the business earned ($0.32) earnings per share. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year.

A number of research firms recently weighed in on NE. Argus raised Noble from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Susquehanna Bancshares set a $8.00 target price on Noble and gave the stock a “hold” rating in a research report on Wednesday, October 10th. Barclays downgraded Noble from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $4.00 to $5.00 in a research report on Thursday, August 9th. BTIG Research began coverage on Noble in a research report on Monday, September 17th. They set a “neutral” rating on the stock. Finally, Royal Bank of Canada reissued a “hold” rating and set a $7.00 target price on shares of Noble in a research report on Monday, July 16th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $6.24.

NE stock traded up $0.01 during trading on Friday, reaching $6.31. 2,659,846 shares of the stock were exchanged, compared to its average volume of 6,114,750. Noble has a twelve month low of $3.39 and a twelve month high of $7.44. The company has a market cap of $1.55 billion, a PE ratio of -5.54 and a beta of 2.25. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.81.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in Noble by 2.0% during the second quarter. Rhumbline Advisers now owns 593,284 shares of the oil and gas company’s stock valued at $3,755,000 after purchasing an additional 11,379 shares in the last quarter. Aperio Group LLC boosted its holdings in Noble by 9.6% during the third quarter. Aperio Group LLC now owns 156,697 shares of the oil and gas company’s stock valued at $1,102,000 after purchasing an additional 13,757 shares in the last quarter. Welch & Forbes LLC acquired a new stake in Noble during the third quarter valued at approximately $115,000. GSA Capital Partners LLP boosted its holdings in Noble by 72.9% during the first quarter. GSA Capital Partners LLP now owns 57,743 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 24,349 shares in the last quarter. Finally, Ahrens Investment Partners LLC boosted its holdings in shares of Noble by 245.1% in the 1st quarter. Ahrens Investment Partners LLC now owns 35,200 shares of the oil and gas company’s stock worth $131,000 after acquiring an additional 25,000 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors.

About Noble

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, 2017, the company operated a fleet of 8 drill ships, 6 semisubmersibles, and 14 jack ups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.

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