Brokerages forecast that Noble Co. PLC (NYSE:NE) will post ($0.39) earnings per share for the current quarter, according to Zacks. Seven analysts have made estimates for Noble’s earnings, with the lowest EPS estimate coming in at ($0.46) and the highest estimate coming in at ($0.28). Noble reported earnings of ($0.29) per share in the same quarter last year, which would indicate a negative year over year growth rate of 34.5%. The company is expected to issue its next earnings results on Wednesday, February 20th.

According to Zacks, analysts expect that Noble will report full-year earnings of ($1.84) per share for the current year, with EPS estimates ranging from ($1.94) to ($1.63). For the next financial year, analysts expect that the firm will post earnings of ($1.62) per share, with EPS estimates ranging from ($1.96) to ($1.30). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Noble.

Noble (NYSE:NE) last issued its earnings results on Wednesday, October 31st. The oil and gas company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.02. The business had revenue of $279.41 million during the quarter, compared to the consensus estimate of $263.19 million. Noble had a negative return on equity of 8.26% and a negative net margin of 79.51%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.36) EPS.

Several equities research analysts have recently issued reports on NE shares. Piper Jaffray Companies set a $6.00 price objective on Noble and gave the stock a “hold” rating in a report on Tuesday, November 6th. Credit Suisse Group set a $6.00 target price on Noble and gave the stock a “hold” rating in a research report on Friday, November 2nd. Tudor Pickering raised Noble from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. ValuEngine lowered Noble from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 29th. Finally, Cowen started coverage on Noble in a research report on Saturday, October 13th. They set a “hold” rating and a $6.00 target price on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.24.

NYSE:NE traded down $0.18 during trading hours on Friday, reaching $3.68. 9,162,392 shares of the company traded hands, compared to its average volume of 5,840,374. The stock has a market cap of $1.02 billion, a PE ratio of -3.23 and a beta of 2.41. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.09 and a current ratio of 2.09. Noble has a 1-year low of $3.39 and a 1-year high of $7.44.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Noble by 1.4% during the third quarter. Vanguard Group Inc. now owns 24,971,839 shares of the oil and gas company’s stock worth $175,552,000 after buying an additional 345,691 shares during the last quarter. Morgan Stanley lifted its holdings in Noble by 184.6% in the third quarter. Morgan Stanley now owns 2,274,306 shares of the oil and gas company’s stock valued at $15,988,000 after buying an additional 1,475,122 shares during the period. Kentucky Retirement Systems acquired a new position in Noble in the third quarter valued at approximately $784,000. AQR Capital Management LLC lifted its holdings in Noble by 318.9% in the third quarter. AQR Capital Management LLC now owns 169,439 shares of the oil and gas company’s stock valued at $1,191,000 after buying an additional 128,995 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in Noble in the third quarter valued at approximately $435,000. 85.64% of the stock is currently owned by institutional investors and hedge funds.

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, 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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