Brokerages predict that Noble Co. PLC (NYSE:NE) will report $262.56 million in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Noble’s earnings. The highest sales estimate is $276.40 million and the lowest is $257.00 million. Noble reported sales of $279.41 million during the same quarter last year, which indicates a negative year-over-year growth rate of 6%. The firm is scheduled to announce its next earnings report on Wednesday, October 30th.
According to Zacks, analysts expect that Noble will report full-year sales of $1.11 billion for the current financial year, with estimates ranging from $1.07 billion to $1.13 billion. For the next year, analysts forecast that the company will report sales of $1.26 billion, with estimates ranging from $1.16 billion to $1.34 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Noble.
Noble (NYSE:NE) last issued its earnings results on Thursday, August 1st. The oil and gas company reported ($0.34) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.11. The business had revenue of $292.90 million during the quarter, compared to analyst estimates of $271.59 million. Noble had a negative return on equity of 8.14% and a negative net margin of 28.97%. Noble’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.49) earnings per share.
NE has been the topic of several analyst reports. Barclays set a $3.00 price objective on Noble and gave the stock a “sell” rating in a report on Friday, May 3rd. SEB Equities cut Noble from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $2.80 to $1.50 in a report on Tuesday, June 18th. ValuEngine upgraded Noble from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research cut Noble from a “buy” rating to a “hold” rating and set a $2.25 price objective on the stock. in a report on Tuesday, June 11th. Finally, Bank of America began coverage on Noble in a report on Monday, June 10th. They set an “underperform” rating and a $1.25 price objective on the stock. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $4.65.
Shares of NYSE:NE traded down $0.03 during midday trading on Friday, hitting $1.43. The company had a trading volume of 273,384 shares, compared to its average volume of 5,854,049. Noble has a twelve month low of $1.36 and a twelve month high of $7.44. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $376.22 million, a PE ratio of -0.76 and a beta of 2.51. The firm’s 50-day moving average is $1.84.
A number of large investors have recently bought and sold shares of the stock. Hellman Jordan Management Co. Inc. MA acquired a new position in shares of Noble during the first quarter worth approximately $29,000. Evergreen Capital Management LLC bought a new stake in Noble during the first quarter worth approximately $31,000. Fiera Capital Corp bought a new stake in Noble during the first quarter worth approximately $39,000. Mercer Global Advisors Inc. ADV bought a new stake in Noble during the first quarter worth approximately $50,000. Finally, First Mercantile Trust Co. increased its holdings in shares of Noble by 32.0% in the second quarter. First Mercantile Trust Co. now owns 36,362 shares of the oil and gas company’s stock valued at $68,000 after buying an additional 8,816 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.
Noble Company Profile
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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