Equities research analysts predict that Noble Corporation (NYSE:NE) will report earnings per share (EPS) of ($0.36) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Noble Corporation’s earnings, with the lowest EPS estimate coming in at ($0.41) and the highest estimate coming in at ($0.30). Noble Corporation posted earnings per share of ($0.23) during the same quarter last year, which suggests a negative year-over-year growth rate of 56.5%. The business is scheduled to announce its next earnings report after the market closes on Thursday, November 2nd.

According to Zacks, analysts expect that Noble Corporation will report full year earnings of ($1.19) per share for the current fiscal year, with EPS estimates ranging from ($1.31) to ($1.10). For the next year, analysts expect that the business will report earnings of ($1.41) per share, with EPS estimates ranging from ($1.65) to ($1.11). Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Noble Corporation.

Noble Corporation (NYSE:NE) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.02. The business had revenue of $278.10 million during the quarter, compared to analyst estimates of $284.99 million. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. Noble Corporation’s revenue was down 68.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share.

NE has been the subject of several recent research reports. Deutsche Bank AG initiated coverage on Noble Corporation in a research note on Tuesday. They issued a “hold” rating and a $4.00 price target for the company. Royal Bank Of Canada set a $5.00 price target on Noble Corporation and gave the company a “hold” rating in a research note on Saturday, October 7th. Citigroup Inc. downgraded Noble Corporation from a “buy” rating to a “neutral” rating and reduced their price target for the company from $11.00 to $4.70 in a research note on Friday, June 16th. Bank of America Corporation downgraded Noble Corporation from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $7.00 to $2.00 in a research note on Friday, June 30th. Finally, Piper Jaffray Companies set a $4.00 price target on Noble Corporation and gave the company a “hold” rating in a research note on Monday, August 7th. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $5.67.

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Shares of Noble Corporation (NE) traded down 0.52% on Thursday, hitting $3.81. The company had a trading volume of 6,992,378 shares. The firm has a 50-day moving average price of $3.90 and a 200 day moving average price of $4.25. Noble Corporation has a 12-month low of $3.14 and a 12-month high of $8.37. The company’s market capitalization is $933.08 million.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in Noble Corporation by 37.6% during the 2nd quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock worth $117,253,000 after acquiring an additional 8,843,373 shares during the last quarter. Vanguard Group Inc. grew its position in Noble Corporation by 16.7% during the 2nd quarter. Vanguard Group Inc. now owns 23,523,527 shares of the oil and gas company’s stock worth $85,155,000 after acquiring an additional 3,371,015 shares during the last quarter. State Street Corp grew its position in Noble Corporation by 31.7% during the 2nd quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock worth $81,248,000 after acquiring an additional 5,405,697 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Noble Corporation by 57.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 20,624,594 shares of the oil and gas company’s stock worth $127,666,000 after acquiring an additional 7,514,153 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Noble Corporation by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,645,549 shares of the oil and gas company’s stock worth $20,437,000 after acquiring an additional 145,172 shares during the last quarter. Institutional investors and hedge funds own 95.63% of the company’s stock.

Noble Corporation Company Profile

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 Corporation (NYSE:NE)

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