$267.23 Million in Sales Expected for Noble Co. PLC (NYSE:NE) This Quarter

Wall Street analysts expect Noble Co. PLC (NYSE:NE) to post sales of $267.23 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Noble’s earnings, with the lowest sales estimate coming in at $259.90 million and the highest estimate coming in at $274.00 million. Noble reported sales of $258.37 million during the same quarter last year, which indicates a positive year over year growth rate of 3.4%. The firm is scheduled to announce its next earnings results on Thursday, August 1st.

On average, analysts expect that Noble will report full year sales of $1.11 billion for the current year, with estimates ranging from $1.07 billion to $1.15 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.27 billion, with estimates ranging from $1.15 billion to $1.38 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Noble.

Noble (NYSE:NE) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.05. The company had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $273.22 million. Noble had a negative net margin of 71.96% and a negative return on equity of 8.75%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period last year, the business earned ($0.55) EPS.

Several equities analysts have recently weighed in on the stock. Credit Suisse Group set a $4.00 price target on shares of Noble and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Barclays set a $3.00 price target on shares of Noble and gave the stock a “sell” rating in a research note on Friday, May 3rd. Goldman Sachs Group assumed coverage on shares of Noble in a research note on Sunday, March 10th. They set a “neutral” rating and a $3.50 price target for the company. Bank of America started coverage on shares of Noble in a research note on Monday, June 10th. They set an “underperform” rating and a $1.25 price target for the company. Finally, Zacks Investment Research downgraded Noble from a “buy” rating to a “hold” rating and set a $2.25 price objective for the company. in a report on Tuesday, June 11th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $4.96.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capstone Financial Advisors Inc. acquired a new stake in shares of Noble in the 4th quarter valued at approximately $26,000. Hellman Jordan Management Co. Inc. MA acquired a new stake in Noble during the 1st quarter valued at $29,000. Evergreen Capital Management LLC acquired a new stake in Noble during the 1st quarter valued at $31,000. Actinver Wealth Management Inc. acquired a new stake in Noble during the 4th quarter valued at $36,000. Finally, Fiera Capital Corp acquired a new stake in Noble during the 1st quarter valued at $39,000. 80.91% of the stock is owned by institutional investors.

Shares of NE opened at $1.64 on Wednesday. The company has a market cap of $423.56 million, a PE ratio of -0.89 and a beta of 2.64. Noble has a twelve month low of $1.50 and a twelve month high of $7.44. The business’s 50 day simple moving average is $2.01. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.77.

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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Earnings History and Estimates for Noble (NYSE:NE)

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