Noble Co. PLC (NYSE:NE) – Piper Jaffray Companies upped their Q3 2019 earnings per share (EPS) estimates for shares of Noble in a report released on Tuesday, May 21st. Piper Jaffray Companies analyst I. Macpherson now anticipates that the oil and gas company will post earnings per share of ($0.50) for the quarter, up from their previous forecast of ($0.53). Piper Jaffray Companies also issued estimates for Noble’s Q4 2019 earnings at ($0.46) EPS, FY2019 earnings at ($1.84) EPS, Q1 2020 earnings at ($0.37) EPS, Q2 2020 earnings at $0.12 EPS, Q3 2020 earnings at ($0.32) EPS, Q4 2020 earnings at ($0.32) EPS, FY2020 earnings at ($0.89) EPS and FY2021 earnings at ($0.34) EPS.
Noble (NYSE:NE) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. Noble had a negative return on equity of 8.75% and a negative net margin of 71.96%. The company had revenue of $282.90 million during the quarter, compared to analyst estimates of $273.22 million. During the same period in the prior year, the company earned ($0.55) earnings per share. The firm’s revenue was up 20.3% on a year-over-year basis.
A number of other equities analysts have also commented on the company. Pareto Securities raised Noble from a “hold” rating to a “buy” rating in a research note on Monday, January 28th. Argus lowered Noble from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Barclays set a $3.00 price target on Noble and gave the company a “sell” rating in a research note on Friday, May 3rd. Goldman Sachs Group initiated coverage on Noble in a research note on Sunday, March 10th. They set a “neutral” rating and a $3.50 price target for the company. Finally, Credit Suisse Group set a $4.00 price target on Noble and gave the company a “hold” rating in a research note on Tuesday, February 26th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.58.
Shares of Noble stock opened at $1.87 on Friday. Noble has a 12 month low of $1.85 and a 12 month high of $7.44. The company has a market cap of $513.25 million, a P/E ratio of -1.02 and a beta of 2.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.77 and a quick ratio of 0.77.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP purchased a new position in Noble during the 4th quarter worth $44,000. BlackRock Inc. increased its holdings in Noble by 2.5% during the 4th quarter. BlackRock Inc. now owns 39,364,645 shares of the oil and gas company’s stock worth $103,134,000 after purchasing an additional 970,599 shares during the period. LPL Financial LLC increased its holdings in shares of Noble by 16.9% in the 4th quarter. LPL Financial LLC now owns 25,178 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 3,649 shares during the period. CWM Advisors LLC increased its holdings in shares of Noble by 78.1% in the 4th quarter. CWM Advisors LLC now owns 32,018 shares of the oil and gas company’s stock valued at $84,000 after acquiring an additional 14,036 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Noble by 59.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,550,871 shares of the oil and gas company’s stock valued at $4,063,000 after acquiring an additional 578,500 shares during the period. Institutional investors own 83.33% of the company’s stock.
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, 2018, the company operated a fleet of 24 drilling rigs consisted of 8 drill ships, 4 semisubmersibles, and 12 jack ups.
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